At Tower Title, we provide our clients with support, answers, and resources at every step of our partnership.
A detailed property records search is completed reviewing all relevant title documents recorded within the land records and tax assessor database.
Tower’s Title Examination team performs a verification of a full and complete legal description for the subject property, confirmations of all necessary links in the chain of title, a review of all liens and encumbrances to ensure they will not conflict with the intended use of the property.
The examiner will compile all data and documents to create a deliverable property report or title commitment. The package will include a detailed report or commitment with full copies of the search documents. This package will be delivered to the client via the method of their choice: email, upload, ftp, etc.
Each closing is assigned to a member of Tower Title’s Closing team who is well versed in commercial and telecommunications transactions. The Closer will assist with scheduling of all parties, preparation of settlement statements, and perform all communication to smoothly close the deal.
After all parties have signed the Settlement Statement, Tower Title’s Closing team works with our in-house Escrow team to perform the Receipt & Disbursement of Funds process. This includes the facilitation of money movement between the appropriate parties involved in the transaction. Typically, Tower acts as the escrow agent and receives money from the buyer and disburses that money to the seller and other parties who are being paid as part of the settlement process.
As part of the Closing process, the Closing department works with Tower Title’s in-house Recording department to record the appropriate legal instruments to formally complete the transfer of property from the seller to the buyer. In the final step of the closing process, Tower will issue a title insurance policy to the buyer, which insures the buyer against any future claims or disputes related to legal rights to the property.
Every securitization is analyzed prior to processing. Tower Title will organize the assets to be securitized resulting in verification of all necessary components to complete our client’s securitization process are present and expectations can be set. An audit is completed of the asset data to ensure proper entity is on record, troubleshoot and resolve any title defects, and issue a final title commitment with the new entity and appropriate mortgage information.
Inventory & Recordation
Tower Title’s Recording team is responsible for inventory management of documents and is equipped with a secure process for document handling. Recording of leases and any transfer documents necessary to transfer the asset to the borrowing entity are processed. Additionally, ensuring any exemptions for transfer taxes are considered to reduce unnecessary recording expenses.
To conclude the transaction, a title insurance policy and any applicable endorsements are issued for the new entity for all assets being securitized.
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