By: Keren Peters Atkinson, Chief Marketing Officer, Madison Commercial Real Estate Services
There are several types of ownership interest in real estate. While the most common is fee simple interest, leasehold interest is also seen often in certain situations and states and with certain types of property. Each type of ownership interest has its benefits and purposes. However, one thing they share in common is a need to protect the purchaser’s investment in the property. Here is why it’s important to protect an investment, regardless of whether the ownership is fee simple or leasehold.
Tags: ALTA, condemnation, covenants, easements, eminent domain, fee simple interest, land use, lease restrictions, leasehold improvements, leasehold interest, leases, lessee, lessor, mortgage, mortgagee, non-disturbance agreements, taxation, the American Land Title Association, zoning
By Michael Donini, Esq.
While time may not always allow an attorney to read through every detail of the boilerplate title insurance policy, a skilled practitioner should definitely know the exact details of the customized portions of the policy and the scope of the title insurance coverage given by endorsements. Why? Because a full understanding of policy endorsements and their benefits will ensure a client’s proper title insurance coverage. Continue reading
Tags: access, ALTA 4, endorsements, lender’s title insurance policy, line of credit, mezzanine loans, non-imputation during a partnership buyout, Owner’s title insurance policy, property contiguity issues, revolving credit, title insurance, title insurance policy endorsements, title insurance underwriter, zoning
By: Danny Wechsler
Zoning disputes vary from conflicts over business parking in residential areas to disagreements over building height and the obstruction of views. While most people are not likely to take a bulldozer to the town hall if their zoning complaints are ignored (See Marvin Heemeyer’s 2004 bulldozer rampage for more details. Or better not.), there does seem to be an intensely personal element to discussions of zoning and the use of private space and public property.
After all, a man’s home is his castle, and if he feels there is a threat to his property or quality of life, he will go up in arms to defend it. The particular nature of zoning disputes sometimes becomes the cause of civil lawsuits resulting in court injunctions or damages awards. These disputes have the potential to impact local populations in numerous ways. Just what are the ethics of zoning disputes? Continue reading
By Eli Schon, Esq., Counsel
Madison Title Agency
City life can be expensive. In some cities, even the air costs money. Indeed, air rights are often bought and sold in major cities.
What are air rights and how is it bought and sold? Continue reading