General NCS
What is the National Commercial Services Group? How does it differ from all other Commonwealth Land Title offices?
The National Commercial Services (NCS) Group is the national commercial division of Commonwealth Land Title Insurance Company whose mission is to manage single site and multi-site title insurance transactions in the Philadelphia Metro Area and throughout the United States. Combining its resources within Philadelphia, and its affiliates and agents nationwide, the Philadelphia NCS offers comprehensive title insurance resources in one office. The NCS group works with national and local law firms, real estate investment trusts, banks and investments institutions, commercial, industrial and residential developers, and real estate owned (REO) clients. The Philadelphia NCS professionals are personally committed to developing innovative solutions for complex real estate transactions. From title order placement to final policy issuance, the NCS group offers solutions, resources and service – all with a common sense and personal touch.
The Philadelphia NCS office sets itself apart by being the title insurance provider offering all of the below listed real estate services under one roof.
What products and services are offered by Commonwealth Land Title?
- Title Insurance for the local/regional Philadelphia market
- Title Insurance for all 50 states nationally
- Escrow Closing
- UCCPlus Insurance & Mezzanine Financing
- Earnest Money Escrow & Document Deposit Escrows
- 1031 Exchange & IPEX Tax Deferred Solutions
- National Special Projects including multistate/multisite recording solutions
- National Title Information (www.commonwealth.ntiweb.com) website providing recording related fees and taxes, laws and customs for all 50 states, and sample document forms
What is the function of your commercial underwriting and account management department?
The Philadelphia-based NCS commercial underwriters pride themselves on providing timely, creative and common sense customer service oriented solutions to today’s real estate transactions and issues. Our team of title officers and underwriting counsel specialize in handling transactions from the start with competitive quotes and title order placement through all phases of the deal coordination including the underwriting and escrow closing process and, finally, through the post-closing follow-up, including timely policy issuance.
Our client base is varied including national and local law firms, real estate investment trusts, banks and investments institutions, commercial, industrial and residential developers, investors and real estate owned (REO) clients.
Our team provides seminars for our clients to help keep them apprised of any new developments and coverage changes in the title and real estate industry.
If you do not have a current Commonwealth Land Title contact in our Philadelphia National Commercial Services group handling your transactions, please contact us so that we can discuss how best we can help you.
Do you conduct any informational seminars?
The Philadelphia NCS presents title and escrow related seminars to help our clients keep abreast of coverage options and policy changes in the industry. We assist in introducing new law firm associates and employees of our clients with “Introduction to Title” seminars (see list below) that teach them how to solve title commitment, survey and escrow closing issues.
To schedule one of the below presentations or for more information please call 215-568-9690. If you don’t see the topic you need listed below, we can build a customized presentation for your firm or company.
- Overview of Title Insurance
- The Title Policy
- Abstract, Examination and Commitment to Insure
- Endorsements
- Methods of Holding Title (Individual, T by E, TIC, Partnerships, Corporations, Trusts)
- Regulation & Rating Manual
- ALTA-ACSM Survey Standards
- Condominiums, Cooperatives & Planned Development
- Liens (Mechanics Liens, Judgments, Federal Tax Liens, Real Estate & Municipal Liens)
- Easements
- Covenants, Conditions & Retrictions (CCR)
- Distressed Real Estate (Bankruptcy, Foreclosure, Deeds in Lieu, Marshall Sales, Receiverships)
- Recorder of Deeds & Prothonotary
Title Insurance
What is Title Insurance and what benefits does it provide?
Title insurance is a form of indemnity insurance which insures against financial loss from defects in title to real property and from the invalidity or unenforceability of mortgage loans. With a title insurance policy, you have an indemnity contract that will reimburse you for loss in the event someone asserts a claim against your property that is covered by the policy.
How can there be a title defect if the title has been searched?
Title insurance is issued after a careful examination of documents filed in the public records. Even the most thorough search cannot absolutely assure that no title hazards are present, despite the knowledge and experience of professional title examiners and underwriting practices. In addition to matters shown by public records, other title problems may exist that are not disclosed in a search.
What does Title Insurance protect against?
Here are just a few of the most common hidden risks that can cause a loss of title or create an encumbrance on title:
- Errors or omissions in recorded legal documents
- Mistakes in examining title records
- Fraud or forgery
- Erroneous or inadequate legal descriptions
- False impersonation of the true owner of the property
- Forged deeds, releases or wills, instruments executed under invalid or expired power of attorney
- Misinterpretations of wills and deeds by persons of unsound mind
- Deeds by minors
- Deeds by persons supposedly single, but in fact married
- Liens for unpaid estate, inheritance, income, real estate or gift taxes
What protection does title insurance provide against defects and hidden risks?
The title insurer will defend its insured against any covered lawsuit attacking title, and will either clear up title problems or compensate the insured for its loss. For a one-time premium, an owner's title insurance policy remains in effect as long as you retain an interest in the property.
What does this ultimately mean to you?
The peace of mind in knowing that the investment you've made is a safe one. And, in the event of a title defect, you have a company who has been in business for over 165 years and holds the largest claims reserves in the industry to help protect you against costly Claims event if the claim of a person or entity attaching your title is baseless.
What title companies are affiliated with Commonwealth Land Title Insurance Company?
Commonwealth Land Title Insurance Company is a member of the Fidelity National Title Group. Our Family of Title Insurance underwriters includes:
- Commonwealth Title Insurance Company
- Chicago Title Insurance Company
- Fidelity National Title Insurance Company
- Alamo Title Insurance Company
The Fidelity National Title Group Family of Companies represents the largest title insurance network in the world and our claims reserves are larger than all major competitors combined.
Title Orders
How can I place an order for title insurance?
Title orders can be placed by contacting your Philadelphia NCS representative by phone or email. Our staff will promptly review the transaction details and provide an email confirmation of the request including the assigned Commonwealth Land Title Insurance Company file number for future reference.
What information is needed to initiate a title order?
Please provide as much of the below information that you have to assist our title examination and coordination staff in promptly and properly completing the requested title commitment searches.
- Transaction Type – Sale / Refinance / Construction Financing
- Property Type – Commercial / Residential / Vacant
- Property Address
- Tax Parcel Numbers and / or Legal Description
- Include any Prior Title Policies or Title Commitments, if available
- Purchase Price / Loan Amount
- Transaction Parties: Seller / Borrower / Current Owner of Record / Buyer / Lender
- Proposed Closing Date
- Contact Information for Sellers / Buyers / Borrowers / Lenders / all Attorneys
- Contact Information for any parties who should receive the title work once completed
What are your title insurance rates?
For commercial rates, please contact your Philadelphia NCS representative for a deal specific quote catered to the details of your transaction.