CHICAGO NCS BLOG

Home / Archive by category "CHICAGO NCS BLOG"
How Residential Surveys Affect Title Insurance and the Closing Process

How Residential Surveys Affect Title Insurance and the Closing Process

HOW RESIDENTIAL SURVEYS AFFECT TITLE INSURANCE AND THE CLOSING PROCESS To download the article, click HERE. Surveys are an important part of both residential and commercial real estate transactions, both to the parties involved in the transaction and the title company insuring the land. Surveys provide many important pieces of information needed for the closing…

Continue Reading
Powers of Attorney

Powers of Attorney

Powers of Attorney To download the article, click HERE. Introduction A power of attorney (“POA”) can be granted when an individual, referred to as a principal, appoints another individual, known as an agent, to act on his behalf. Usually this occurs when the principal cannot attend or carry out a specific purpose for himself. (“POA’s”)…

Continue Reading
Covenants, Conditions, and Restrictions

Covenants, Conditions, and Restrictions

Covenants, Conditions, and Restrictions To download article, click HERE. “Covenants, conditions, and restrictions” (hereafter CC&Rs) is a generic term for privately-created rules and regulations that frequently govern the use and improvement of real property.  They are a long-time staple of the real estate market, appearing regularly as exceptions to title. The Basics – CC&Rs Defined…

Continue Reading
Title Insurance 101

Title Insurance 101

Title Insurance 101: Back to the Fundamental Principles By Richard F. Bales Chicago Title Insurance Company The Old Days In the late-eighteenth and early nineteenth centuries, attorneys began hiring abstractors to perform title work.  Abstractors would compile a history of the land, sometimes from the original land patent forward.  (A land patent is a land…

Continue Reading
Karlen’s Korner Special Edition: A Bleachers Story

Karlen’s Korner Special Edition: A Bleachers Story

A Bleachers Story By Douglas M. Karlen, Regional Counsel, Chicago Title Insurance Company If at first you don’t succeed (in the courts), try, try again (in the legislature). This is the story of the Crystal Lake South bleachers. The question decided in this story is: do municipal zoning ordinances govern a school district’s construction of football…

Continue Reading
Understanding the UCCPlus Insurance Policy

Understanding the UCCPlus Insurance Policy

Understanding the UCCPlus Insurance Policy An interview with Gary Zimmerman, Senior Vice President and Chief Underwriting Counsel of Fidelity National Title Group’s UCCPlus Division A UCCPlus Insurance Policy (UCCPlus Policy) is a title insurance product that insures most personal property taken as collateral for a loan. Similar to a lender’s real estate title insurance policy that insures…

Continue Reading
Karlen’s Korner Special Edition: A Revised Limited Liability Act

Karlen’s Korner Special Edition: A Revised Limited Liability Act

A Revised Limited Liability Act By Douglas M. Karlen, Regional Counsel, Chicago Title Insurance Company On July 28, 2016, Governor Rauner signed into law a massive re-write of the Limited Liability Company Act, 805 ILCS 180/1-1 et seq. See Public Act 99-637 (HB 4361), effective July 1, 2017.  This comprehensive revision of the Limited Liability…

Continue Reading
Construction Issues at Closing: A Title Company’s Perspective

Construction Issues at Closing: A Title Company’s Perspective

Construction Issues at Closing: A Title Company’s Perspective Introduction One of the more complex and confusing issues that can rear its ugly head at a real estate closing is that of the existence of past, present, or, in some cases, future contracts for construction on the land. These contracts can create headaches for owners, purchasers,…

Continue Reading
Company Fact Sheet: Mid Year 2016

Company Fact Sheet: Mid Year 2016

Performance that highlights the financial strength of our title insurance business This was a strong quarter for our title operations, as our title operations again led the title industry with a 16.5% adjusted pre-tax title margin.  Our adjusted pre-tax title earnings of $300 million were a $17 million increase over the strong second quarter of…

Continue Reading