Excel Title Services has begun using eRecording in multiple Ohio counties, including Butler, Clermont, Warren and Hamilton County. eRecording delivers real estate instruments, e.g. deeds, mortgages, etc., electronically to the Recorder, making the recording process faster and more efficient.
Treasury recently released Proposed Regulations providing guidance to those looking to qualify for the new Qualified Opportunity Zone (“QOZ”) tax incentives created by the Tax Cuts and Jobs Act of 2017 (“TCJA”). Congress created this new tax incentive to encourage investments in certain low-income communities that have been designated as “Qualified Opportunity Zones.” In sum, the QOZ rules allow a taxpayer to defer tax on the gain from the sale of property if, within 180 days, the taxpayer invests in a Qualified Opportunity Fund (“QOF”).
ExcelExchanges LLC has entered the market as a Qualified Intermediary in section 1031 tax-deferred exchanges. An affiliate of Excel Title Services and DBL Law, a team of attorneys, real estate and tax professionals have been assembled to assist investors with 1031 exchange transactions.
Excel Title echoes the sentiments reflected in the linked blog. Recently we were assisting a buyer in purchasing a home from a seller who had previously purchased it from a “big” bank. The bank had purchased the property back out of foreclosure. Unfortunately, the title company or law firm assisting in the foreclosure utilized the wrong legal description. This inadvertently omitted some very important portions of the property (vacated alleys).
We suggested that the seller contact the title insurance company from which he had purchased title insurance. The title insurance company accepted responsibility, tracked down the title owners of the omitted parcels and obtained signatures on the required quitclaim deeds. The title insurance company promptly paid the recording cost, resulting in no additional expense to the seller. If the seller had simply relied on an attorney title report when he purchased the property, he would have most certainly incurred the costs of hiring an attorney to correct the problems. The attorney fees would have far exceeded the cost of the title insurance.
Our client did not underestimate the benefit of title insurance. No one should, especially when so much property is now transferring through foreclosure proceedings. Read this article for more about the importance of title insurance.
All commercial real estate transactions require careful due diligence. Without it, a buyer or seller may end up with a lot of headache and hassle–and legal nightmares. Hidden issues are often uncovered by using a professional team including an experienced title agency.
The Great Recession continues to take its toll on our Nation. Many leading business journals predict continuing losses in the commercial real estate market. Although it is hard to see any bright side to this domino’s fall, there is one practical step that owners can take to mitigate the damage – appeal their tax bill.
Introducing Excel Title Services – a full-service title company.
In the current dynamic real estate market, you need an experienced and professional title company to protect your real estate investment and coordinate your title needs. Excel Title Services is the clear choice to meet the full range of your real estate title needs.