September 11, 2025
In This Issue:
- Texas Legislature: New Law Barring Certain Foreign Nationals From Buying Land Went Into Effect Sept. 1. New Seller Impersonation Fraud Bill Pursued by TLTA Passed by Lawmakers During Second Special Session.
- Virginia Insurance Commissioner Issues Warning Regarding AOLs
- FTC Abandons Non-Compete Rule and Simultaneously Initiates Targeted FTC Noncompete Enforcement Action
- TDI Compliance Reminder: Agent's TS-1 Due by Sept. 30
- TLTA FinCEN Compliance Clinic Sept. 15 - Sign Up Now. Extensive New Residential Reporting Requirements To Be Implemented Dec. 1.
Texas Legislature: New Law Barring Certain Foreign Nationals From Buying Land Went Into Effect Sept. 1. New Seller Impersonation Fraud Bill Pursued by TLTA Was Passed During Second Special Session.
TLTA | Sept. 11, 2025
Foreign Ownership Law Effective Sept. 1
Senate Bill 17, which prohibits people, companies and government-linked entities from China, Iran, North Korea and Russia from acquiring most types of real estate in Texas, became law Sept. 1. This new law is the result of a multi-session conversation among lawmakers on how to address the politically volatile topic of foreign ownership of U.S. land.
TLTA's Advocacy Team is grateful to report that we successfully worked with legislators to include in the new law these title industry protections:
- No policing by title agents
- Notice in Real Property Records
- “Savings Clause” to preserve title
Learn more in TLTA's 89th Regular Session Report »
ICYMI: Seller Impersonation Fraud Bill Pursued by TLTA Passed by Lawmakers During Second Special Session
Among the bills approved by lawmakers before the special session concluded is
SB 16, which was expanded to create a new, specific offense for seller impersonation fraud.
In recent years, seller impersonation fraud has plagued the title industry and resulted in claims including full policy loses. We extend our industry's sincerest gratitude to SB 16's author, Sen. West, along with his senate coauthors and the bill's House sponsors, including Rep. Dyson. Their leadership on this important new criminal statute that TLTA advocated for will encourage prosecution of seller impersonation fraud and ultimately help stop this growing threat.
SB 16 is currently on Gov. Abbott's desk for his signature or veto.
Contentious Second Special Session Concluded Last Week
The 89th Texas Legislature's second special session, 89(2), ended last week. Congressional redistricting and camp safety were among the bills that passed, but the much debated property tax reform proposal,
SB 10, died after the House and Senate could not reach agreement on the terms for limiting growth of local government property tax collections year over year. We expect to see this issue revived in a future session.
Virginia Insurance Commissioner Issues Warning Regarding AOLs
HousingWire | Sept. 10, 2025
Scott White, Virginia’s commissioner of insurance, has issued a warning to both title insurance companies and consumers in his state about attorney opinion letters (AOLs).
In a letter sent Tuesday addressed to all title insurance companies, agents and entities in the state of Virginia, White explains the applicable law, differences between title insurance and AOLs, and where certain AOL offerings may violate the state’s Code by crossing the line into the unlicensed business of insurance.
“Consumers should be aware AOLs are being offered as substitutes for title insurance but they do not, and legally cannot, offer the same protection as title insurance,” the letter states. “The gap in coverage may leave consumers without protection that they believe they purchased."
Read more »
FTC Abandons Non-Compete Rule and Simultaneously Initiates Targeted FTC Noncompete Enforcement Action
National Law Review | Sept. 10, 2025
On September 4, 2025, the FTC announced an enforcement action and proposed settlement with Gateway Pet Memorial Services (the “Company”), a pet cremation company, over the Company’s overuse of post-employment non-competes with certain terms it found concerning. At nearly the same time, the FTC withdrew its appeals pending in the Fifth and Eleventh Circuits of district court rulings issued last year, which enjoined the FTC from enforcing its final rule banning most non-competes nationwide.
In an accompanying statement, Chair Andrew Ferguson, joined by Commissioner Melissa Holyoak, emphasized their dissent to the non-compete final rule (issued by the FTC during the previous administration), and signaled that, going forward, the FTC will step away from broad rulemaking in this area and instead pursue a “steady stream” of enforcement actions to define, case by case, the boundaries of lawful non-compete agreements under the FTC Act and the Sherman Act.
This enforcement action and the FTC’s decision to withdraw its appeals of the lower court rulings enjoining its non-compete final rule reflect a shift from broad rulemaking to a case-by-case enforcement approach to delineate the boundaries of lawful versus unlawful non-compete agreements.
Read more »
Compliance Reminder: Agent's TS-1 Due by Sept. 30
TLTA | Sept. 1, 2025
Form T-S1, Title Agent's Unencumbered Assets Certification, must be submitted annually to TDI between Sept. 1 and Sept. 30 of each year.
Please submit your TS-1 by Monday, Sept. 30 to
[email protected]
TLTA FinCEN Compliance Clinic Sept. 15 - Sign Up Now. Extensive New Residential Reporting Requirements To Be Implemented Dec. 1.
TLTA | Sept. 3, 2025
The clock is ticking! Less than 3 months until
FinCEN's new reporting rule takes effect. Are you and your team prepared internally to respond to this significant compliance change? TLTA is hosting a
special compliance clinic Sept. 15 to help you prepare for the significant new reporting requirement.
Starting December 1, new federal reporting requirements will significantly impact how title professionals handle certain residential transactions. This isn’t just a policy update, it's a major operational change that requires planning, training, and workflow adjustments.
This advanced, two-hour compliance clinic builds on our popular Conference session, featuring returning expert Leslie S. Johnson, CTIP, now joined by TLTA Regulatory Committee Chair Roland Love, CTIP. Together, they'll answer your questions and help you translate the rule into an actionable internal response.
Register for New Compliance Clinic Now »