HLS 12RS-313 ORIGINAL
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
Regular Session, 2012
HOUSE BILL NO. 1087
BY REPRESENTATIVE ABRAMSON
INSURANCE: Repeals certain provisions relative to searches of the mortgage or public
records for title insurance purposes
AN ACT1
To amend and reenact R.S. 22:512(17)(b)(vi)(gg), relative to required search periods of2
mortgage and public records for title insurance purposes; to repeal the requirement3
of a minimum search period in certain circumstances; and to provide for related4
matters.5
Be it enacted by the Legislature of Louisiana:6
Section 1. R.S. 22:512(17)(b)(vi)(gg) is hereby amended and reenacted to read as7
follows: 8
ยง512. Definitions9
As used only in this Subpart, the following words are defined as:10
* * *11
(17) "Title insurance business" or "business of title insurance" shall mean:12
* * *13
(b) Transacting or proposing to transact by a title insurer or a title insurance14
agent any of the following activities when conducted or performed in contemplation15
of or in conjunction with the issuance of a title insurance report or policy:16
* * *17
(vi) Examining titles; however, any title insurance report or title insurance18
policy relating to immovable property shall be based upon an examination of the19
public records or a personal examination of an abstract. Such examinations shall be20 HLS 12RS-313 ORIGINAL
HB NO. 1087
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are additions.
conducted and title opinion rendered only by an attorney duly licensed and1
authorized to practice law in Louisiana as provided in R.S. 37:212. The examination2
and resulting opinion, if it furnishes the basis of a title insurance report or title3
insurance policy relating to immovable property, shall be reduced to writing by the4
attorney. The title opinion shall contain the following:5
* * *6
(gg) Length of examiner's search and date of earliest recorded instrument7
reviewed by the examiner. If the transaction being insured is a sale, the minimum8
search period shall be thirty years, or longer, if necessary, in order to reach an arms-9
length sale between unrelated, third parties. If only a mortgage is being insured, then10
the search shall be for a minimum of ten years or two links in the chain of title,11
whichever is greater. However, such minimum search periods for a sale or mortgage12
shall not apply to any transaction made prior to and on January 1, 2013, by the Road13
Home Corporation, The Louisiana Land Trust, or any political subdivision, of14
property originally acquired in connection with the Road Home Program.15
* * *16
DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part
of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute
part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
Abramson HB No. 1087
Abstract: Repeals the requirement of minimum search periods of mortgage and public
records for certain transactions being insured by title insurance.
Present law requires that any title insurance report or title insurance policy relating to
immovable property be based upon an examination of the public records or a personal
examination of an abstract, and requires that the title opinion contain, among other
requirements, a minimum search period of 30 years, or longer, if necessary, in order to reach
an arms-length sale between unrelated, third parties. If only a mortgage is being insured,
then the search shall be for a minimum of 10 years or two links in the chain of title,
whichever is greater.
Present law provides that the minimum search periods for a sale or mortgage shall not apply
to any transaction made prior to and on Jan. 1, 2013, by the Road Home Corporation, The
La. Land Trust, or any political subdivision, of property originally acquired in connection
with the Road Home Program. HLS 12RS-313 ORIGINAL
HB NO. 1087
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are additions.
Proposed law repeals the 30-year and 10-year minimum search periods and the exemptions
from such minimum search periods.
(Amends R.S. 22:512(17)(b)(vi)(gg))