Insured Services Offered
All policies issued are regulated as set forth in New York State Title Insurance Rate Manual (TIRSA). All rates provided are subject to and governed by the qualifications of the TIRSA Rate Manual and are verified with our underwriters prior to closing.
• Owner’s Insurance – An Owner’s Policy of title insurance is issued to the Purchaser or Owner in possession for no less than the greater of the Contract Price or Fair Market Value
• Loan Policy – A Loan Policy of title insurance is issued to a Lender for no less than the full unpaid principal amount or in the case of negative amortization mortgages, the maximum principal amount.
• Simultaneously issued Owner’s and Loan Policy – Provided that the premises to be insured is the same, if an Owner’s and Loan Policy are issued simultaneously, the Loan Policy only shall be calculated at a discount of the applicable loan rate.
• Refinance – When a new Loan Policy is issued and title insurance on the property, whether an Owner’s or Loan, has also been issued within the last ten (10) years, the new loan premium shall be calculated at a discount of the applicable loan rate.
• Leasehold – Leasehold Policy shall receive the Owner’s Policy rate and shall be calculated based upon the amount of insurance selected by the Insured according to the provisions set forth in TIRSA.
• Modification – For Loan Policies insuring previously insured mortgage(s) that is(are) being modified and extended, the charge shall be at a discount of the applicable loan rate.
• Bulk Rate – When insuring the initial sale, loan or lease of a condominium unit or residential subdivision, as shown on a condominium plan or subdivision map respectively, consisting of 10 or more units, the Owner’s Policy premium shall be at a discount of the standard owner’s rate. If there is a simultaneous loan being insured, the Loan Policy charge shall be at a discount of the applicable rate up to the amount of the Owner’s Policy.
• Construction Loan – also known as a Building Loan, Project Loan or any other loan which is advanced in stages and for which the policy is continued with each advance made. The rate includes the first five continuations and a regulated fee in the amount of $200.00 for each of the remaining advances.
• TIRSA Extended Owner’s Protection Policy (TOEPP) – The rate charged shall be 120% of the owner’s rate and may be issued if the transaction involves a 1-4 family residence, the Owner is a natural person or living trust established by a natural person for estate purposes.
Non-Insured Services Offered
All non-insured searches are subject to the accuracy of public record systems.
• Judgment and Lien Search- includes all outstanding judgments and liens affecting real property within a specific time period.
• Attorney Search – includes all outstanding judgments and liens affecting real property dating back to the last deed of record for consideration.
• Business Search - County and State name searches made against a business and/ or its partners, members etc.
• Bankruptcy Search - Open and closed bankruptcy filings made against a specific party.
• Patriot Search - Certified search of the list of “specially designated nationals and blocked persons” published by the Office of Foreign Assets Control of the U.S. Department of Treasury.
• Cooperative Search - all outstanding judgments and liens made against parties owning or purchasing shares of stock in a cooperative unit.
• Corporate Franchise Tax search- made in the Department of State where a Corporation is filed for outstanding corporate taxes.
• Good Standing Search - made in the Department of State where an entity is filed for the purpose of ensuring said entity remains in existence.
• Covenant, Restriction and Easement Search- any agreements of record which may hinder the use and enjoyment of a premises.
• Foreclosure Search- any liens which may have priority over the foreclosing party and certification of the parties in interest.
• UCC Search (County and/or State) - for UCC’s only made in a specific County or Department of State.
• Municipal Search- Building and Fire department searches, such as, Certificate of Occupancy, Housing and Building Violations, Emergency Repair Violations, etc.
• Copies of Recorded Documents - acquired from the county of the premises location.
• Certified Copies of Recorded Documents - acquired from the County of the premises location certified by the County to be true original.
• Document Recording- facilitation of document recordings in the appropriate county.
• Zoning Lot Certifications (Exhibits I through V) Pursuant to Section 12-10 of the Zoning Resolution of the City of New York
• Preparation of Transfer Documents