A New York management consultancy has published an encyclopedic guide to the laws and customs governing real estate transactions throughout the U.S.
“The Ultimate Real Estate Transaction Compliance Manual,” was published by System 2 Thinking. Its authors include Allen Solomon, CEO and president of System 2 Thinking; Roberto Abreu, chief compliance officer at System 2 Thinking; and Steve Daigle Sr., founder and chairman of Punctual Abstract.
System 2 said the manual is the result of 15 years of work that Solomon began when he was the national managing director at Linear Title and Closing. Abreu and Daigle expanded Solomon’s work into a comprehensive, 51-jurisdiction manual with citations for each statute and regulation.
“If I had this book 25 years ago, I would have kissed it,” Solomon said in a release. “I experienced first-hand the need for this kind of manual, and the need is even greater now as different players, from real estate brokerages, mortgage divisions and title agencies to PropTech companies, are trying to speed up and automate transactions.
“No matter how fast you go, these rules still underpin and structure the
transactions,” Solomon said.
The authors say the 210-page manual is the first state-by-state compliance guide for executives and compliance officers. It provides targeted and essential information, common pitfalls and peculiarities of working in every jurisdiction.
“The goal was to provide a clear view of each state’s recording laws, property tax structure, how title is vested, who can legally close or disburse a transaction, foreclosure law and statute of limitations laws and much more,” said Marc Shaw, president of World Wide Land Transfer Inc., who wrote the manual’s foreword. “The goal was met with this concise, effectively segmented manual.”