Title Commitment

(Also referred to as a Preliminary Report, Initial Search or Starter)

 

We review the documents from the past that have recorded on the subject parcel to prepare a Report or Commitment with a current effective date.  We search back in time in title plants to the last time there was a Title Insurance Policy issued on that land. 

 

This gives us the starting point with all the pertinent exceptions and encumbrances.  This is also called a Starter.  From this point in time we retrieve copies of all the documents that may have an effect on the title to the property that have recorded since the date of the Starter.  These documents are examined and then a Report or Commitment is prepared based upon this search or examination.

 

Title Commitment Update

(Also referred to as Date Downs)

 

Ordering an update on a Title Commitment can be critical.  We review the title since the date of the Commitment to the current date to discover if anything new has been filed against the property which may affect the transaction. 

 

 

Sales Commitment

 

Similar to a Title Commitment, the Sales Commitment is commonly issued to the Buyer on auction sales of foreclosed properties.  A Sales Commitment has a number of prior encumbrances deleted due to the foreclosure.  (The foreclosure wipes out various junior encumbrances.)  You should reasonably expect normal encumbrances or exceptions in every policy.  Common examples include: liens for real estate taxes, easements, Covenants, Conditions & Restrictions.

 

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