Chicago Title NCS Chicago: SYFCREC 2021

Surviving Your First Commercial Real Estate Closing I Mechanic’s Lien Risks & Construction Escrow Mechanic’s Lien Coverage Surviving Your First Commercial Real Estate Closing I Mechanic’s Lien Risks & Construction Escrow How does Construction Affect Title Insurance? o Mechanic’s liens can pose a risk to a Lender if the priority of the mortgage can be challenged in the future. o The priority of a mortgage is determined by state law. o The availability of mechanic’s lien coverage is determined by the state law, the facts surrounding the project, and by the Title Company’s risk management policies. 4 3 4 75