Purchaser's Title Insurance: Contract to Post-Closing (Commercial Real Estate) (IL) | Practical Law

Purchaser's Title Insurance: Contract to Post-Closing (Commercial Real Estate) (IL) | Practical Law

A Practice Note discussing the process of evaluating title to Illinois commercial real estate throughout a purchase and sale transaction while addressing the need for title insurance. This Note identifies the steps involved in obtaining an owner's policy of title insurance and title insurance endorsements from when the purchaser's counsel negotiates the purchase and sale agreement until completion of post-closing tasks. The steps described include review of a title insurance commitment, survey, zoning information, search reports, and an insured closing letter.

Purchaser's Title Insurance: Contract to Post-Closing (Commercial Real Estate) (IL)

Practical Law Practice Note w-019-3452 (Approx. 59 pages)

Purchaser's Title Insurance: Contract to Post-Closing (Commercial Real Estate) (IL)

by Practical Law Real Estate
MaintainedIllinois
A Practice Note discussing the process of evaluating title to Illinois commercial real estate throughout a purchase and sale transaction while addressing the need for title insurance. This Note identifies the steps involved in obtaining an owner's policy of title insurance and title insurance endorsements from when the purchaser's counsel negotiates the purchase and sale agreement until completion of post-closing tasks. The steps described include review of a title insurance commitment, survey, zoning information, search reports, and an insured closing letter.