ENROLLED
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ACT No. 1028
Regular Session, 2010
HOUSE BILL NO. 807
BY REPRESENTATIVE TIM BURNS
AN ACT1
To amend and reenact R.S. 22:512(17)(b)(introductory paragraph) and (vi)(bb) and (gg),2
relative to title insurance; to require that a title opinion contain a search of the3
mortgage records for a period of twenty years for federal judgments; to require the4
length of the examiner's search for a transaction involving a sale be a minimum5
period of thirty years or longer in order to reach a third-party transfer; to require the6
examiner's search be a minimum of ten years or two links in the chain of title,7
whichever is greater, if only the mortgage is being insured; to provide certain8
exceptions; and to provide for related matters.9
Be it enacted by the Legislature of Louisiana:10
Section 1. R.S. 22:512(17)(b)(introductory paragraph) and (vi)(bb) and (gg) are11
hereby amended and reenacted to read as follows: 12
ยง512. Definitions13
As used only in this Subpart, the following words are defined as:14
* * *15
(17) "Title insurance business" or "business of title insurance" shall mean:16
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(b) Transacting or proposing to transact by a title insurer or a title insurance18
producer agent any of the following activities when conducted or performed in19 ENROLLEDHB NO. 807
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contemplation of or in conjunction with the issuance of a title insurance report or1
policy:2
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(vi) Examining titles; however, any title insurance report or title insurance4
policy relating to immovable property shall be based upon an examination of title5
which shall be conducted only by attorneys duly licensed and authorized to practice6
law in Louisiana. The examination and resulting opinion, if it furnishes the basis of7
a title insurance report or title insurance policy relating to immovable property, shall8
be reduced to writing by the attorney. The title opinion shall contain the following:9
* * *10
(bb) Complete list of all encumbrances, mortgages, judgments, liens, and11
privileges. This list shall contain the name of secured creditors, date filed, amounts,12
and recordation information. For federal judgments, a search of the mortgage13
records shall be made for a period of twenty years. However, such time period14
requirement shall not apply to any transaction made prior to and on January 1, 2013,15
by the Road Home Corporation, The Louisiana Land Trust, or any political16
subdivision, of property originally acquired in connection with the Road Home17
Program.18
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(gg) Length of examiner's search and date of earliest recorded instrument20
reviewed by the examiner. If the transaction being insured is a sale, the minimum21
search period shall be thirty years, or longer, if necessary, in order to reach an arms-22
length sale between unrelated, third parties. If only a mortgage is being insured, then23
the search shall be for a minimum of ten years or two links in the chain of title,24
whichever is greater. However, such minimum search periods for a sale or mortgage25
shall not apply to any transaction made prior to and on January 1, 2013, by the Road26
Home Corporation, The Louisiana Land Trust, or any political subdivision, of27
property originally acquired in connection with the Road Home Program.28
* * *29 ENROLLEDHB NO. 807
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Section 2. The provisions of this Act shall apply to all transactions occurring on or1
after September 1, 2010, except as otherwise provided by R.S. 22:512(17)(b)(vi)(bb) and2
(gg).3
SPEAKER OF THE HOUSE OF REPRESENTATI VES
PRESIDENT OF THE SENATE
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED: