Press Release
FOR IMMEDIATE RELEASE
Contact: Craig Page, (916) 444-2647
September 10, 2007
California Land Title Association Urges Governor to Sign Senate Bill 892
Legislation Would Help the Collection of Delinquent Child Support Payments
Sacramento, CA – The California Land Title Association (CLTA) today urged Governor Arnold Schwarzenegger to sign Senate Bill 892 by Senator Ellen Corbett (D-San Leandro). SB 892 would help the state Department of Child Support Services and local child support agencies automate the filing of real property liens against delinquent child support obligors. SB 892 passed through the Legislature without opposition and has been sent to Governor Schwarzenegger for final approval.
"The California Land Title Association strongly supports SB 892 and urges Governor Schwarzenegger to sign this bill into law. SB 892 would improve the recordation process, better enabling title companies to collect delinquent child support payments for the benefit of the children and custodial parents who rely on that income," said CLTA Executive Vice President Craig Page.
Full-protection title insurance relies upon an exhaustive search of the public record to identify and correct liens and encumbrances on property. A recent national study showed that title companies undertake corrective action in more than one out of every three real estate transactions. From a practical perspective, this often results in the collection of delinquent child support, spousal support and tax payments. According to official data from the California Department of Child Support Services, the state's title companies have helped collect more than $330 million of delinquent child support payments since 2002.
Title insurance is used by homebuyers and lenders for protection against back taxes, undisclosed liens, legal judgments, forgeries, fraud and a host of other potential legal/financial problems that can arise when purchasing or refinancing property. Most of the title insurance premium goes towards identifying and eliminating these potential problems before the close of escrow. Consumers pay only once for title insurance - there are no monthly premiums - for coverage that lasts as long as they own the property.
The California Land Title Association (CLTA) is a non-profit corporation founded in 1907, representing member title companies throughout the state of California. The Association’s membership is comprised of title insurance companies and underwritten title companies conducting business in the state. The goals of the CLTA include: expediting the transfer and insurance of title to real property throughout California, increasing the public’s awareness of the value and purpose of title insurance, and finally, protecting private property rights.
