Transactional law governs the transactions taking place between individuals or corporations. A Transactional Law Paralegal drafts in-state and out-of-state registrations related to subdivision, condominium and timeshare. They organize recording procedures for large-scale recording and prepare drafts of opinion letters. Duties include: performing financial calculations like amortization, discounting, APR, and net present value; conducting title searches or ordering title search and updates; and preparing a preliminary abstract of title and opinion on the title. Work activities also include: title insurance coverage negotiations; tax receipt compilation; property tax closing adjustments; assistance in recording mortgages; arrangements for title insurance purchase; capital gains tax affidavit preparation; assisting attorneys at closings; equalization forms preparation; discharge of mortgage arrangements; real and personal property tax calculation; and follow up on post-closing items, including preparation of closing index and binder. A transactional law paralegal may also draft disclosure statements related to Truth-in-Lending; deeds of trust and other loan documentation; and leases, assignments, extensions, and amendments. An Associates degree in paralegal studies or a Bachelors degree with a certificate in paralegal studies is required for paralegal jobs. Notary license is preferred. Familiarity with CCRs, easements descriptions, escrow instructions, grant deeds, liens and recorded judgments, policy of title insurance, preliminary title search, and trust deeds, is essential. Knowledge of basic accounting is required.
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