| | |  | **ALTA Best Practices Compliant  ·  Ohio Land Title Association Member** |  | | --- | --- | --- | | | --- | --- | --- | --- | |
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|  | | **Call Us Today:**(216) 589 - 8399 | | --- | |
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| |  | | --- |   |  | | --- |  | | Proudly Compliant with ALTA Best Practices The American Land Title Association (ALTA) recently established seven best practices, including title insurance agencies & procedures, to serve as a benchmark for the real estate settlement and mortgage lending industries. Subsequently, ALTA developed an independent certification process for title insurance agencies that complied with these requirements by August 2015.  We are proud to announce that on January 23, 2015, Surety Title Agency, Inc. received its Certification of Compliance with the ALTA Best Practices and Procedures. We are not aware of any other title agency in Ohio that has received this certification to date.  We understand the tremendous pressure mortgage lenders are under to meet their responsibilities to protect non-public personal information under the Gramm-Leach-Bliley Act. It is also our understanding that the act requires financial institutions to oversee their service providers by "taking reasonable steps to select and retain service providers that are capable of maintaining appropriate safeguards for the customer information at issue," and "require service providers by contract to implement and maintain such safeguards." ALTA introduced the Best Practices & Procedures in part to assist lenders in fulfilling this responsibility.  The ALTA Best Practices address seven main areas ranging from controls regarding escrow and trust funds to protecting customers' non-public personal information and responding to complaints.  **1**. Establish and maintain current licenses.**2**. Adopt and maintain appropriate written procedures and controls for escrow trust accounts, allowing for electronic verification of reconciliation.**3**. Adopt and maintain a written privacy and information security plan to protect non-public personal information as required by local, state, and federal law.**4**. Adopt standard real estate settlement policies and procedures.**5**. Adopt and maintain written procedures related to title policy production, delivery, reporting, and premium remittance.**6**. Maintain appropriate professional liability insurance and fidelity coverage.**7**. Adopt and maintain procedures for resolving consumer complaints. | | --- | | | --- | --- | |
| **Surety Title Agency, Inc.**   * * * * * *   * 1120 Chester Ave.   #400 * Cleveland * OH * 44114  * Phone: (216) 589 - 8399 |
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| |  | | --- |   |  | | --- |  | | Defer Taxes on Property Transfers Successfully with 1031 Exchanges If you own property and decide to sell, under Section 1031 of the Internal Revenue Code, you can defer your capital gains taxes by using the profits from the sale to purchase another piece of property of equal or greater value. To help clients with these types of transactions, Surety Title Agency, Inc. established Surety 1031 Exchange, Inc. to act as a qualified intermediary. This agency ensures that property owners meet the requirements listed under Section 1031 in order to defer taxes on the transfer successfully. How Can Surety 1031 Exchange, Inc. Help? Surety 1031 Exchange, Inc.'s attorneys work with your legal and tax advisors to develop successful exchange strategies. They provide the necessary documents you can use to structure the deferred exchange successfully; however, our attorneys encourage all clients to confer with their own legal and tax advisors to make sure they receive the maximum benefits. The attorneys also work with the escrow or closing agent selected by the parties for both the relinquishing of the original property and the acquisition of the replacement property. Downloadable Forms View and print any of the forms below using Adobe Acrobat Reader.   | •  | •  | • •  | | --- | --- | --- | | | --- | --- | --- | --- | | | --- | --- | --- | --- | --- | |
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| | | Contact Thank you for your interest. We look forward to hearing from you soon.   | | **Phone**(216) 589 - 8399  Hours of OperationMonday – Friday,8:30 a.m. – 5:00 p.m. | | --- | |  | | | **Address**1120 Chestr Ave. #400Cleveland, OH 44114  **Service Area**Ohio | | --- | |  | | | **Share** | | --- | |  | | | --- | --- | --- | --- | --- | --- | --- | --- | --- |  |  |  | | --- | --- | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |
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