Title Company

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American Homes Title Agency can provide comprehensive title and settlement services for any real estate transaction associated with a purchase, construction, refinance or equity loan. Backed by the assurance of First American Title, each transaction will be completed in accordance with the state-specific underwriting standards and regulatory requirements.

Our offices and agents utilize fully-trained staff to provide you with the most comprehensive insurance coverage and professional service available in the industry today.

A search is performed for the subject property and a title insurance commitment is developed which identifies those items found in the real estate records that describe the property, who owns the property, as well as any requirements that must be met in order to issue a title insurance policy.

What Is Title Insurance?

Title insurance is a contract which indemnifies against loss arising through defect in the title to real property. If the title is insurable, the title company will guarantee against loss due to any defects in title not specifically set forth in the policy and pay all expenses in defense of any lawsuit which attacks the title as insured within the terms of the policy.

Two Kinds Of Title Policies

Owner's Policy - To protect against the many possibilities of loss due to title defects, a buyer of real property should purchase an owner‘s policy.

Lender's Policy - Nearly all residential mortgages originated today are sold to investors and the mortgage will likely require a lender's policy to protect only the lender.

Property Information - If no insurance is required, the local title office or agent can perform a search to identify the current information on the subject property.

Hidden Risks Covered By Title Insurance

There may be defects in title which an examination may not disclose. A title policy protects against all of these hidden risk, and more:

• Errors, gaps or omissions in chain of title
• Marital property rights not disclosed of record
• Mistakes in recording
• Confusion of names
• Conveyances altered before recording
• Voiding or limiting seller's record of title
• Deeds by minors
• Deeds by persons supposedly single but secretly married
• Deeds by persons of unsound mind
• Deeds delivered after death of grantor or grantee, or without consent of the grantor
• Defective foreclosures of mortgages
• Errors made by administrators and executors
• Errors in copying and indexing
• False representations in appointment of guardians and administrators
• Falsification of records
• Forged deeds, releases, or wills
• Fraud, duress, or coercion in securing essential signatures
• Illegal acts of trustees
• Incompetence
• Instruments executed under expired or fabricated power of attorney
• Impersonations by fraudulent persons
• Legal costs to defend claim to title
• Liens for unpaid estate, inheritance, income, and gift taxes
• Undisclosed or missing heirs
• Risks not appearing of record

Some important points to know about title insurance:

• A premium is paid only once, customarily at time of closing
• Coverage for risks occurring prior to policy date
• Coverage in force from policy date until sold
• Full value of mortgage for lender
• Full value of purchase price for buyer
• Can be increased in value later

Settlement Services

The main purpose of title insurance is risk avoidance. American Homes Title Agency examines all state, county, and local records with great care to search for and cure possible defects in title. Title insurance insures against things that have occurred prior to the issuance of the policy.

We provide expert services to complete a sale of property, foreclosure of property, construction loan or refinance. Working in partnership with the realtor, lender and borrower, American Homes Title Agency will utilize their expertise to coordinate the transaction in a professional and smooth manner.

Commercial Services

American Homes Title Agency's Commercial Services division serves customers from across Long Island. We offer single-point service for every client, regardless of size, complexity or geographic diversity or the properties in a transaction.

Our service includes expert handling of the simplest commercial transactions to the most complicated multi-property / multi-state transactions, providing personalized and individualized service for every client and every situation.

Experienced underwriting teams have unlimited national underwriting authority. This guarantees a creative, competent, and client-focused approach to the transaction translating into timely closings and reduced transaction costs.

TITLE CHARGES

Municipals for refinance” Municipals for purchase" Bankruptcy Search

Patriot Search Certificate of Occupancy (town fee extra) Tax Search Duplicate Tax Bill - Oyster Bay Survey Locate Survey Inspection (downstate / upstate) Franchise Tax / Cert. of Inc. or Good Standing Escrow Service Charge Courier Fee for Purchase f Refinance Certified Copies

Copies

ACRIS Preparation / Coop Westchester Prep

COUNTY SEARCHES Attorney Search (includes tax and bank.) Continuation Search Continuation Search (1 year) Coop Search CR and Easement Search Deed Chain (25 years) Extra Chain Charge (per lot) Foreclosure Search Judgment & Lien Search (10 year-per name) Judgment & Lien Search mortgages Last Deed of Record Last Owner and Mortgage Search - Surrogate Search

Search

Zone 1 Search Charge Zoning Lot Cert. Ownership Statement

395 (445 Upstate)

445 35 (per name) 25 (per name) 75 60 10 50 175 / 200 75 / 150 75 60 / 30 statutory county charge plus 50 service charge statutory county charge plus 25 service charge 175

350 60 125 500 250 150 150 500 75 175 75 250 75 60 per jurisdiction 250 550

RECORDING FEES

Deed (Residential) (4 pages) Deed (Commerical / Vacant Land) (4 pages) Mortgage (25 pages)

CEMA (35 pages)

255 253 Affidavits Assign. Satis. Subord. (3 pages) Assignment of Leases & Rents (10 pages) UCC-1 1 UCC-3 (add 40 for filing in Albany) Power of Attorney (12 pages) Each Additional Page

Each Additional Lot

Each Additional Block ACRIS Filing Fee (Coop) / Filing Service Fee Satisfaction of Judgment Filing Service Fee Recording Service Fee per Document Affidavit (255, 253, etc) Filing Service Fee UCC Filing Service Fee Tax Map Verification Fee per document Peconic Bay Region Transfer Tax Fee

Bronx, Kings,

Nassau

150

Suffolk

Upstate

200 325 175 225 10 75 (50 each add. Mtg. for sat) 100 45 100 5