There are many reasons why it is important for a real estate owner and mortgage lender to purchase title insurance. Title insurance protects owners and lenders from hidden hazards resulting from liens, encumbrances and defects in the title to the property. These hidden hazards threaten the investment in the real estate, which oftentimes is substantial.
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A recent lawsuit in Ohio provides a reminder about the importance of properly executed notary clauses and exercising caution when using “stand-alone signature pages.” The lawsuit involves two companies which failed to make payments on a multi-million dollar promissory note. Ultimately, the lender obtained a judgment for a loan default against the borrowing companies.
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With outdated condominium laws that lacked consistency in governance, Kentucky legislators recently passed the new Kentucky Condominium Act (KCA). The KCA goes into effect January 1, 2011 and will provide a lot more direction for condo associations and developers. This post provides a summary of the KCA and its implications for condominium stakeholders.
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This week Old Republic Title Insurance Company announced that it would no longer insure foreclosed homes. This was in response to several large mortgage companies suspending foreclosures while irregularities in foreclosure filings are being investigated.
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Since 2008, the commercial real estate market has been challenging for all involved. Although we are not completely past the turbulence, we are beginning to see more stability on the horizon.
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The Great Recession continues to take its toll on our Nation. Many leading business journals predict continuing losses in the commercial real estate market. Although it is hard to see any bright side to this domino’s fall, there is one practical step that owners can take to mitigate the damage – appeal their tax bill.
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Introducing Excel Title Services – a full-service company meeting your changing needs for commercial real estate titles. In the current dynamic real estate market, you need an experienced and professional title company to protect your real estate investment and coordinate your title needs. Excel Title Services is the clear choice to meet the full range
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The good news is that lenders are beginning to make commercial real estate loans again. The bad news—lending standards are strict. Only the most credit-worthy borrowers will qualify for these loans for the foreseeable future. Required Equity Contributions and Higher Interest Rates Your first hurdle is to determine how much equity you will contribute. In
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A mechanic’s lien filed against a private construction project in Kentucky has many undesirable effects. It will cloud title to the property and interrupt financing for the project, if you are the owner. If a lien is filed by a subcontractor, it will likely result in the owner freezing payments to the general contractor. Making
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Courts across the country are increasingly denying policyholders coverage for construction defect claims. Construction companies need to ensure that their policies sufficiently protect them against construction defects claims. Often, defects can result in multi-million dollar claims. Without appropriate coverage, a company risks paying for such claims, or at least a substantial part of the claim,
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