A title review is an important aspect of commercial real estate operations to help identify potential issues, risks, or concerns before the final closing process. The review is based on documentation that is connected to the property such as mortgages, tax sales, deeds, litigation, etc. – as well as a list of all the owners of the property, the length of ownership, and the transition dates. Obtaining all of the pertinent information on the property, then distilling it down for critical information, is necessary for actionable items and successful deals.
Here is the high-level process for a title review:
- Survey Receipt: After receipt of the survey (which covers the property), a review of the survey in relation to the description of the title commitment (legal description) is done to try and discover any discrepancies.
- Document Receipt: Locate all relevant documents that are found on the title commitment for the property, then collate and confirm receipt and legibility.
- Document Review: Review all documents for any consents necessary to be obtained for the sale of the property ie. mortgages, deeds, etc.
- Issue Resolution: Assess and analyze any potential issues involving the physical property itself such as encroachments, right of ways, encumbrances, floodways, and parking spaces to align with the zonal requirements that are noted on the survey or in the The Planning and Zoning Resource reports (PZR).
- Report: Draft a final checklist of unresolved items for review and what specific steps are necessary to proceed with the deal.
When preparing title review, you should always keep the audience in mind, avoid legal jargon, and present information in a simple, straightforward manner with actionable items in place.
Baer Reed real estate due diligence services can provide efficient and quick turnarounds to keep any deal moving forward in a timely fashion. Contact us today to learn more.
Mr. Reyes graduated with honors from the Ateneo de Manila University, where he received the Procter and Gamble Student Excellence Award. He obtained his Juris Doctor degree from the Ateneo de Manila School of Law. During law school, Mr. Reyes was part of the Philippine delegation to the Willem C. Vis International Commercial Arbitration Moot held in Vienna, Austria. He was also a member of the Ateneo Society of International Law and the St. Thomas More Debate Society. He completed his internship at the Public Attorney’s Office. He wrote a thesis entitled: “To Kill A White Elephant: An Analysis of the Fiduciary Exception to the Corporate Attorney-Client Privilege”. Mr. Reyes is admitted to practice law in the Philippines and the State of New York.
Ms. Lardizabal-Manzano is a graduate of San Sebastian College-Recoletos, where she earned her B.A. in Political Science. In 2003, she received her law degree from Lyceum of the Philippines and was admitted to practice law in 2004.
Matthew Hersh earned a B.A. in Political Science from Columbia University in 1990 and graduated cum laude from Georgetown University Law Center in 1999. He also holds a master’s degree in international relations from the Georgetown University School of Foreign Service.
Cap. Avi Levak (Res. IDF) graduated from from Israel’s prestigious Ben-Gurion University of the Negev with a Bachelor of Science in Computer Science and Mathematics. He is also a Leadership and Communication coach trained in TuT coaching by Alon gal in Israel. Avi specializes in high-level, in-depth analysis of business and client needs, within systems and software strategy and architecture.
Ms. Tyler graduated cum laude from Georgetown University and received her law degree, cum laude, from Georgetown University Law Center. During law school, she interned at the United Nations Economic Commission for Europe. She also worked on The Tax Lawyer journal and was a member of the award-winning Barristers’ Council Mock Trial Team. Ms. Tyler is admitted to practice law in the State of California and the District of Columbia.
Ms. Cruz-Anonuevo graduated cum laude and top nine in her batch from Miriam College with a degree of Bachelor of Arts in InternationalStudies. She obtained her Juris Doctor degree from Ateneo de Manila University School of Law in Rockwell. During law school, she interned in Rivera, Santos, Maranan & Associates. She was also part of Ateneo’s Labor Law Bar Operations. She wrote her thesis on, “Stealing Privacy: Limitations on Media’s Photographic Invasion.,” Ms. Cruz-Anonuevo is admitted to practice law in the Philippines.
Ms. Aquino-Batallones obtained a Bachelor of Arts degree in Development Studies (with Minors in Global Politics and Hispanic Studies) from the Ateneo de Manila University. In 2011, she received her Juris Doctor degree from Ateneo de Manila University School of Law. During law school, she interned at Romulo Mabanta Buenaventura Sayoc & de los Angeles then became an intern of Ateneo Legal Services Center’s Clinical Legal Education Program.
Mr. De Guzman graduated from San Beda College with a degree of Bachelor of Arts Major in Economics and received his law degree from San Beda College of Law. He is multilingual and is fluent in three languages: Chinese, Filipino, and English. He was admitted to the Philippine Bar in 2003.