title-commitment

name	title-commitment
title	Title Commitment and Policy
description	Drafts ALTA-compliant Title Commitment documents for commercial real estate transactions including Schedule A, Schedule B Parts I and II. Use when preparing title commitments, preliminary title reports, title insurance policies, or pre-closing title documents.
author	CaseMark
author_url	https://github.com/CaseMark/skills/tree/main/skills/legal/title-commitment
license	Apache-2.0
version	0.1.0
execution_mode	open
jurisdiction	us
practice	real-estate
language	en
tags	["agreement","drafting","transactional"]

Title Commitment and Policy

Drafts an ALTA-standard Title Commitment identifying state of title, requirements for policy issuance, and exceptions to coverage.

Prerequisites

Collect before drafting:

• Property — legal description, APN, county, state
• Transaction — purchase price or loan amount, policy type (Owner's/Loan/Leasehold), closing date
• Vesting — current owner(s) of record with recording reference
• Title search — all encumbrances, liens, easements, CC&Rs, judgments from examination
• Parties — proposed insured(s), full legal names with entity designations
• Encumbrances — mortgages, deeds of trust, tax status, assessments to address at closing

Document Structure

Header

• Title: "COMMITMENT FOR TITLE INSURANCE"
• Issuing company: full legal name, jurisdiction-licensed
• Commitment number: [YEAR]-[OFFICE CODE]-[SEQ]
• Effective date: date through which title search was conducted

Schedule A — Transaction Details

Draft in order:

1. Policy type — ALTA Owner's (2006), Loan, or Leasehold; specify form version
2. Policy amount — purchase price (owner's) or loan amount (lender's); format $X,XXX,XXX.00
3. Proposed insured — full legal names with entity designations; specify ownership percentages if multiple
4. Current vesting — owner(s) per most recent deed with recording reference (instrument number or book/page)
5. Legal description — verbatim from deed or survey; jurisdiction-appropriate format (metes and bounds, lot/block, government survey); include plat references; separate multiple parcels

Schedule B, Part I — Requirements

List all conditions for policy issuance in closing-timeline order:

1. Premium and fees payment
2. Purchase price / loan funding confirmation via settlement statement
3. Conveyance instrument — deed executed, acknowledged, recorded
4. Existing lien releases — payoff statements + recorded satisfactions for all non-surviving mortgages, DOTs, judgment liens, tax liens
5. Owner's affidavit — possession, mechanic's liens, unrecorded interests, recent improvements
6. Entity authority — good standing, resolutions, incumbency certificates (if entity parties)
7. Survey — current ALTA/NSPS if needed to remove standard survey exception