Understanding Interim Title Insurance Documents (With Forms)

Title insurance is central to almost every commercial real estate transaction, and ensuring that buyers and/or lenders will have effective title coverage is usually a condition to closing. Buyers and lenders thus have an incentive to make the moment of coverage as late in time as possible so as to p...

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Bibliographic Details
Published inThe Practical Real Estate Lawyer Vol. 27; no. 2; p. 41
Main Authors Earley, Justin Lischak, Jordan, James B
Format Trade Publication Article
LanguageEnglish
Published Philadelphia American Law Institute 01.03.2011
Subjects
Attorneys
Commercial real estate
Insurance coverage
Insurance policies
Jurisdiction
Liens
Risk management
Title insurance
United States > US
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Summary:Title insurance is central to almost every commercial real estate transaction, and ensuring that buyers and/or lenders will have effective title coverage is usually a condition to closing. Buyers and lenders thus have an incentive to make the moment of coverage as late in time as possible so as to pass the risk of a harmful event to the title company. Title insurance is essential to almost every modern-day real estate transaction. Given the present state of the real estate markets - in which distress sales without warranties of title are common, and special-purpose entities who are de facto judgment proof are often the sellers, making warranties of title ring hollow anyway - effective title coverage is more important than ever. Before walking down the aisle of a closing, counsel for all parties to any commercial real estate transaction can benefit by keeping the often unstated legal principles underlying interim title coverage documents in mind.
ISSN:8756-0372
2640-947X