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Land Development

Master Policies and Take-off Policies

A Master Owner's Policy may be issued to insure land intended to be divided into two or more condominium units or parcels of real estate for subdivision, construction or resale owned by the same individual or legal entity. The rate to be charged is computed the same as owner's policies. The amount of insurance on a Master Owner's Policy may be increased by endorsement if the title remains insurable. The rate for the additional coverage will be computed the same as owner's policies.

A "take-off" policy is an owner's policy issued on the sale of a unit or lot already insured under a Master Policy. The rate for a take-off policy is a minimum of $125.00 and a maximum of $250.00.

The Master Owner's Policy must be issued prior to any take-off policies or commitments on any portion of the real estate and such policy must contain the following wording:

"It is stipulated that owner's, loan, leasehold owner's and leasehold loan take-off policies or commitments therefore may be issued from this policy and that the amount of all policies or commitments so issued shall be deducted from the amount of this policy. Liability under this policy will be reduced by the cumulative amount of such take-off policies."

Other Charges

Additional charges may be made by the Company or Policy Issuing Agent when unusual conditions are encountered, special risks insured against or special services required. Special services may include cancellation fees that otherwise would have been included as a component of premium upon closing.

New Construction

Assurance Title Takes the Hassle Out of New Construction Escrow Management

Our role at Assurance Title is to act as an escrow closing agent and construction escrow manager on new construction projects. We see that all involved parties needs are met: the homeowner, the lender and the builder.

Our construction escrow management system can minimize risk and save time. We've developed a thorough and effective system for handling the intricacies of each construction escrow project.

For the Builder

Assurance Title has established a great rapport with many area builders by sharing and providing up to date accounting tools to monitor project details. Both new and veteran builders can benefit from our construction escrow management system.

For the Lender

We have the necessary experience to meet the new compliance guidelines required of lenders. By a careful review of the lender instructions, we see that all necessary documents are executed and the project is fully monitored.

For the Homeowner

We explain the construction process and your vital role with the "Assurance Title Escrow Agreement". You will know in advance how the draw process works and understand the loan documentation. We realize that this is not just a project; this is a life changing event.

Our dedicated team can handle the construction escrow needs for all involved parties. Trust the title company that can provide the level of service you need.

Assurance Title: Protecting life's largest investments, both residential and commercial.

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We have endorsed and adhere to the "Title Insurance and Settlement Company Best Practices Policies".