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DID YOU KNOW? # 2

DID YOU KNOW?

Subject: Matricula Consular Cards

Most states in the U.S. require federal or state issued identification for notary purposes as long as it was issued within the last five years and contains a photograph, signature, physical description of the bearer and identifying number. Examples include a driver's license, ID card issued by the Department of Motor Vehicles or a foreign passport stamped by U.S. Immigration and Naturalization.

In the past two years, use of Mexican Matrícula Consular ID cards has increased tremendously and they are now being presented to notaries across the nation. Matrícula Consular is an identification card issued by the government of Mexico through its consulate offices. The card certifies the holder is a Mexican national living outside of Mexico, and states his or her birthplace and U.S. address. The card costs about $29 and is valid for five years.

The U.S. government has decided that, at this time, these cards are not a reliable form of identification due to the inability to verify the true identity of the card holder. Here are the primary concerns:

· The government of Mexico does not have a centralized database to coordinate the issuance of the Matrícula Consular ID cards. This results in multiple cards being issued with the same information.

· The government of Mexico issues the card to anyone who can produce a Mexican birth certificate and one other form of identity, including documents of very low reliability. There is a huge business involving forged Mexican birth certificates believed to be fueled by the demand for Matrícula Consular cards.

DID YOU KNOW? #1

DID YOU KNOW?

Subject: Transfer Fee Rights

We have probably all heard that a title is composed of a bundle of rights. We are familiar with the fee simple title to real estate, and we understand that the title could be subject to easements, mortgages, restrictions, leases, mining rights and numerous other rights and interests. But, have you heard of a Transfer Fee Right?

We wanted to alert you to a scheme currently in operation in Texas by Freehold Development, Inc. to market “Transfer Fee Rights”. Marketing materials describe the “Transfer Fee Right” as an owner’s right to recapture the future value of the improvements made to his/her property. According to Freehold Development, Inc., “there is the present value and the future income value of your improvements and under the current outdated system, you are not being compensated for this future value when you sell.”

How does it work? By the use of a recorded Declaration of Covenants, Conditions and Restrictions, property owners are being encouraged to encumber their property with a covenant that will require payment to the owner of a sum equal to one percent (1%) of the gross sales price of the property with each non-exempt transfer of all or part of the property. With this use of the covenant, every time the property is sold, the closing agent will have the responsibility to collect the transfer fee and remit the fee directly to the property owner. The marketing scheme also allows realtors’ commissions.

For more information, a website is available at www.FreeholdDevelopment.net.



First Tipton Title Company, LLC is a registered agent of Fidelity National Title Insurance Company and will publish the “DID YOU KNOW” mailings on a semi-regular basis.

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