Commercial Services

Service Level Commitment

• Dedicated, experienced and proactive team of Title & Escrow professionals.
  
• Daily/weekly communication of transaction status based on clients needs.
  
• Fast, dependable title searches within 1-3 business days.
  
  
  • Copies of all documents reflected in title search (i.e. Grants, Declarations, Deeds) included with search.
    
  • Title search package includes proforma endorsements & plotted locatable easements on maps.
    
• Competitive and negotiable pricing for title and escrow services to be provided within 8 hours.
  
• Flexible, innovative underwriting with quick local decision-making and responses within 24 hours.
  
• Same day responses for customer service inquiries.
  
• Experienced commercial senior escrow officers available.

Underwriting Diversity
Island Title is proud to be affiliated with two of the largest title insurance underwriters in the
Nation providing the customer with flexibility and choice.

• First American Title Insurance Company
  
• LandAmerica (Commonwealth Land Title Insurance Company, and the Lawyers Title Insurance Company)

Island Title has adopted a philosophy of utilizing creativity and innovation to find a way to insure almost any property.

Island Title uses local decision- making and implementation to provide our clients with the highest levels of quality service.

ALTA Commercial Endorsements
The following are brief descriptions of the 2003 and 2004 ALTA Commercial Endorsements. Additional charges may be applicable.

ALTA 15 - Non-Imputation - Full Equity Transfer Endorsement
The ALTA 15 was designed for situations where the entire ownership of the entity owning the land has changed hands.

ALTA 15.1 - Non-Imputation - Additional Insured Endorsement
The ALTA 15.1 is similar to the ALTA 15, but is formatted for situations where the existing entity is the named insured in the policy and landholder to protect an incoming partner, member or shareholder.

ALTA 15.2 - Non-Imputation - Partial Equity Transfer Endorsement
The ALTA 15.2 is also similar to the ALTA 15, but is formatted for an incoming partner, member, or shareholder, as the named insured in its own policy, where the landholder is a partnership, limited liability company or corporation.

ALTA 16 - Mezzanine Financing Endorsement
The ALTA 16 is designed for use with the new ALTA Owner's policies where the equity interests in the insured entity are being pledged as security for a "mezzanine" loan or as secured guaranty by the equity holders of some of other indebtedness.

ALTA 17 - Access and Entry Endorsement
The ALTA 17 insures that the land abuts a public street; the insured has actual "vehicular and pedestrian access", and has the right to use existing curb cuts or entries.

ALTA 17.1 - Indirect Access and Entry Endorsement
The ALTA 17.1 is used for land not abutting a public street. It insures when the policyholder has access to the public streets over an easement.

ALTA 18 - Single Tax Parcel Endorsement
The ALTA 18 is a conventional tax parcel endorsement that insures against loss if the tax parcel includes more land that is described in the policy, or does not include all of the land described in the policy.

ALTA 18.1 - Multiple Tax Parcel Endorsement
The ALTA 18.1 adds indemnification against loss where "the easements, if any, described in the policy are cut off or disturbed by the non-payment of real estate taxes assessed against the servient estate.

ALTA 19 - Contiguity - Multiple Parcels Endorsement
The ALTA 19 is a conventional contiguity endorsement for insuring the contiguity of two or more parcels described in the policy.

ALTA 19.1 - Contiguity - Single Parcel Endorsement
The ALTA 19.1 is designed for insuring that the land described in the policy is contiguous to adjacent land not insured by the policy.

ALTA 20 - First Loss Endorsement
The ALTA 20 is requested by lenders in some multi-property transactions to accelerate the payment of a loss under a loan policy if the value of one of the properties is diminished by a matter covered by the title insurance.

ALTA 21 - Creditor's Rights Endorsement
The ALTA 21 is designed to insure over a loss if a court avoids the estate, interest or lien of the mortgage insured against by the policy by finding a fraudulent conveyance or preference in a transaction.