Chicago Title NCS Chicago: SYFCREC 2021

Surviving Your First Commercial Real Estate Closing I Mechanic’s Lien Risks & Construction Escrow Determining Priority During Construction There are four (4) types of statutory schemes for determining a Lender’s priority over potential mechanic’s lien claimants. 01 Factual Priority 02 No Priority 03 Incremental Priority 04 Absolute Priority 5 Surviving Your First Commercial Real Estate Closing I Mechanic’s Lien Risks & Construction Escrow Types of Mechanic’s Lien Coverage o Covered Risk 11(a) of the 2006 ALTA Loan Policy o ALTA 32/33 Endorsement Series o State-specific interim coverage 6 5 6 76