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Products and Services

Title Insurance

Mortgage Policy Sometimes referred to as a 'Loan Policy.' This policy insures a lender making a loan secured by a mortgage against loss due to the impairment or invalidity of the lien of the mortgage, or by reason of defects in, superior liens on or the unmarketability of the title to the land.

Fee Policy Often referred to as an 'Owner's Policy.' This policy insures the owner of real estate against any loss incurred by defects in or liens against the owner's title, as well as the unmarketability of the title. It protects not only against loss due to record chain of title problems, but also against such non-record problems as fraud, forgery and the like.

Leasehold Policy Insures either the owner of a leasehold estate or a lender making a loan secured by a mortgage on the leasehold estate with respect to the title to the property.

Mortgage Foreclosure Guarantee A mortgage foreclosure guarantee is a written guaranteed history of all transactions which affect a particular parcel of real property based upon a search of all public records which is prepared for a bank or other mortgagee which anticipates foreclosing its mortgage on that particular piece of real property. A mortgage foreclosure guarantee includes a certification of the title to or ownership of the land in question, a legal description of the mortgaged land, a description of the mortgage to be foreclosed, a listing of necessary parties or defendants to be named in the foreclosure action, all exceptions to title recorded subsequent to the record date of the mortgage being foreclosed and all real property tax information concerning the premises to be foreclosed. In New York State the amount of insurance contained in a mortgage foreclosure guarantee is limited to a maximum of $10,000.

Title Searches

Full Title Search A full title search is a condensed written history of all transactions which affect a particular parcel of real property based upon a search of the public records which are located in a County Clerk's Office, County Surrogate Court and Federal Court. The purpose of a full title search or abstract of title is to provide a document pursuant to which the reader may determine that the person purporting to hold a legal or lien interest in a particular piece of real property has the actual legal ownership of that interest. The period covered by a full title search may either be 40 or 60 years in length depending on the standards of the local county bar association in the county where the real property is located.

Redated Title Search A redated title search is a condensed written update of all new transactions which affect a particular parcel of real property and have occurred since the last certification date of an existing full title search.

Last Owner Search These searches, provided in a unique easy to read format, begin with the date the current record owner took title and end with the present.

Bankruptcy Search A search of the Federal bankruptcy records for any party having an interest in the subject property.

Stub Search Begins with an arbitrary date or designated instrument and ends with a subsequent date.

Guaranteed Tax Search A search of all local taxes of record which are levied against the subject property.

Franchise Tax Search A search of the New York State franchise tax records against any corporate party having an interest in the subject property.

Judgment Search A search of the judgment books against all individuals and corporations in the chain of title to the subject property.

UCC Search A search of Uniform Commercial Code Financing Statements filed against designated real and/or personal property.

Mortgage Foreclosure Guarantee A mortgage foreclosure guarantee is a written guaranteed history of all transactions which affect a particular parcel of real property based upon a search of all public records which is prepared for a bank or other mortgagee which anticipates foreclosing its mortgage on that particular piece of real property. A mortgage foreclosure guarantee includes a certification of the title to or ownership of the land in question, a legal description of the mortgaged land, a description of the mortgage to be foreclosed, a listing of necessary parties or defendants to be named in the foreclosure action, all exceptions to title recorded subsequent to the record date of the mortgage being foreclosed and all real property tax information concerning the premises to be foreclosed. In New York State the amount of insurance contained in a mortgage foreclosure guarantee is limited to a maximum of $10,000.

Document Recording Monroe processes and records documents affecting real estate in the appropriate recording office.

Escrow Monroe serves as escrow agent or 'facilitator' for Internal Revenue Code - Section 1031 tax free exchanges of commercial real property. General escrow services for any aspect of a real estate transaction.

Courier Service Courier service within the market area of Monroe's offices. Free pick-up and delivery at most offices. Convenient pre-paid mailers.


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