Title Insurance

In New York State, Insurance Law § 1113 (8) defines title insurance as insuring owners of, and other persons lawfully interested in, real property and chattels real against loss by reason of defective titles and insuring the correctness of searches for all instruments liens or charges affecting title to such property. Lender’s insurance: Insures the priority of a lien on specific property subject to the terms of the ALTA 2006 Lender’s Policy. Owner’s insurance: Insures ownership against loss by reasons of items specifically recited in the ALTA 2006 Owner’s Policy. For more detailed information, contact us! Also try viewing the Title Insurance Rate Service Association website at www.tirsa.org

Abstracts

An abstract of title is the chronological presentation of the history of the ownership and liens against a parcel of land as recorded in the county clerk’s office. The starting point for the abstract typically is established by contract between a buyer and seller and can vary from county to county. The abstract is not an official document and is prepared by an abstract company.

New Abstracts

A new is a search starting from scratch when nothing has been provided. The beginning point of the search will vary somewhat from county to county. For example, in Onondaga County the standard contract requires that the search must begin with a warranty in at least 1945. In Oswego the contract requirement is forty years. You need a new abstract when selling your property, and you cannot locate the existing search.

Continuation

A continuation is adding new search work to an existing abstract to bring it up to date.

Additional Services

  • Certificate of Good Standing
  • Franchise tax searches
  • Abstract locates
  • Last owner/stub searches
  • UCC searches
  • Patriot act searches
  • Bankruptcy searches
  • Tax searches