Chicago Title employs a staff of specially trained technicians to examine, report, guarantee and insure the condition of title for all types of subdivision developments. In addition, as a member of the developer's team, we see our job as working closely with the developer, project engineer and attorney in order to anticipate and resolve the many title related issues that arise throughout the course of a project.
We prefer, if possible, to begin our work as a member of your team prior to the acquisitions of the land for development. This is recommended so we can work with your team in examining and proposing solutions to title issues such as:
The above listing represents just a few of the issues which may delay, hinder or otherwise impair the proposed project development plans. We recognize that we may not always be the title company for the land acquisition. However, since we will be working with you and your team thereafter, consider seeking our input prior to close of the land acquisition escrow nonetheless. We will be happy to help when and where possible.
- "Blanket", "floating" or otherwise undefined or unlocated easements
- Implied or actual rights of surface entry for the development of existing oil or mineral rights
- Recorded covenants, conditions and restrictions (CC&R's) which limit or prohibit the proposed development
- Boundary documents which may create gaps or overlaps with the description or establishment of the boundaries of the subject property
- Easements of record which may, based on their location or use, impair or otherwise limit the proposed development
- Issues involving primary or secondary access to the project site
During the mapping stage of your project, your Chicago Title Subdivision Title Officer will provide the following services to you, your project engineer, attorney and Department of Real Estate (DRE) processor as follows:
When you are ready for construction loan financing, contact your Chicago Title Sales Representative to open a title order for this purpose. The reports referred to in this section will form the basis of a Preliminary Report for the benefit of you and your lender.
- Tentative map and boundary review for your engineer.
- Provide engineer with boundary deeds, vesting deed(s), recorded maps, recorded easements and other recorded documents necessary to prepare and process the subdivision map.
- Subdivision reports are provided to you, your engineer, the City and County, as well as other interested parties. These reports and the subsequent Subdivision Guarantee are provided to the City and County for recordation of your subdivision map. They include the current owners and the nature of all recorded title interests that appear on the title sheets of the map, in accordance with the requirements of the Subdivision Map Act and local ordinances.
- Some Counties require the preparation of a 5 year tax history along with a large scale copy of the assessor's map for tax bond applications.
- If the project is a condominium, we obtain the condominium plan from your engineer and review it for accuracy and consistency with the proposed covenants, conditions and restrictions (CC&R's) as prepared by your attorney.
- If DRE processing is required, we provide the attorney and the DRE processor with a title report containing the title information required by the DRE for the Public Report application.
- Your Chicago Title Subdivision Title Officer will review and record the approved project documents and prepare a final title report for the DRE and the Chicago Title Sale-Out Title Officer.
- For projects of a complicated nature, such as mixed use, high-rise, master planned developments, modular style phasing and adaptive re-use projects, your title officer will meet with and work closely with your engineer, attorney and other team members to address and clarify all mapping and title insurance issues from initial development to the recording of all project documents.
Your Chicago Title Construction Loan Title Officer will work with you and your lender to:
If you intend to start work on the project property prior to the recording of your construction loan, consult with your Chicago Title Sales Representative or Title Officer before work begins on your subdivision site. Your lender requires that their title insurance policy insure against loss due to any mechanics' lien having priority over their loan. The start of work, even as minor as demolition, grading or contracting for temporary power poles, fencing, port-a-potty or other rented preconstruction equipment can be considered a break in priority. In order to provide this insurance to your lender, you will need to provide an indemnity acceptable to Chicago Title. We recommend that you notify us of any start of work on your project site at once, but no later than 48 hours before your construction loan is expected to record. This will give us the minimum time necessary to prepare and process your indemnity for approval. In any event, it is always best not to start until after the loan records.
- Provide a Preliminary Title Report
- Plot recorded easement locations as may be required
- Provide recorded document copies as may be required. In most cases, the documents will be hyperlinked to the report for ease of emailing the entire report and documents to lender's attorney and all related parties.
- Resolve any title insurance issues or needs raised
- Provide Proforma Policy and endorsements as may be required
- Review, record and insure the construction loan documents
If Chicago Title will be handling the processing of a Public Report from the Department of Real Estate (DRE), contact your Chicago Title DRE Consultant to review the status of your DRE filing. Upon completion of construction, recordation of all necessary project documents and the issuance of any required DRE Final Public Report (White), you are ready to open and close escrows for the sales of completed lots or units. Your Developer Services Title Officer at Chicago Title will open a title order for each lot or unit in your development as requested by your escrow.
Your Title Officer will:
- Provide title reports and any requested document copies to your escrow and any buyer's lender
- Provide legal descriptions for use by escrow or buyer's lender on their documents
- Order inspection for verification of address and (if a condominium) parking assignment list
- Consult with you, your escrow or buyer's lender to resolve any issues or needs that may arise
- Request sale-out mechanic's lien Indemnity for closings prior to the expiration of the lien period
- Review, record documents and issue policies of title insurance to your buyers and their lenders
Additional services and information available to your through your Chicago Title Sales Representative include but are not limited to the following: Coordination and consultation with you and the rest of the development team to assure good communication and quality of service to you from Chicago Title throughout the entire development and sale-out process; provide 'Builders Bulk Rate' title insurance premium rate quotations for your subdivision needs (acquisition, construction loan and sale-out policies of title insurance); and set up online Premier Services for property profile information 24/7.