Construction Loan Funding and Title Insurance: Best Practices in Disbursement and Documentation
Drafting Effective Future Advance, Budgeting and Draw Provisions; Lien Waivers, Title Updates and Endorsements
Recording of a 90-minute CLE webinar with Q&A
This CLE webinar will examine the mechanics of construction loan funding and the interplay of construction advances with title insurance through the life of a construction loan. The panel will discuss drafting of budgeting and construction draw provisions, and best practices for preserving the lender's lien priority and title insurance protection for future advances.
- Construction loans
- Budgeting—adjustments, retainage
- Draw procedures
- Mechanics liens—lien waivers, lien subordinations
- Title coverage and construction endorsements
- Future advance clause, title updates
- Survey coverage
- Owner’s policy
The panel will review these and other key issues:
- What issues must be considered in drafting construction draw provisions?
- How do construction draw provisions address variations from the construction budget?
- How does title insurance for a construction loan differ from title insurance for a permanent loan?
- What is the purpose of lien waivers or subordinations required with construction draws, and what are the standard forms?
Peter G. Freeman
Pillsbury Winthrop Shaw Pittman
Mr. Freeman represents lenders, developers, private equity funds and real estate investment trusts (REITs) in... | Read More
Mr. Freeman represents lenders, developers, private equity funds and real estate investment trusts (REITs) in connection with the financing, acquisition, construction, disposition, leasing and asset management of commercial properties. He has closed many complex transactions involving multifamily, retail, hotel, entertainment, industrial and office properties. He also advises on commercial and residential bulk loan sales, distressed asset dispositions, joint ventures, restructurings and mortgage servicing rights transfers. Further, he provides pro bono transactional counsel to Washington-area nonprofits.Close
Kleinberg Kaplan Wolff & Cohen
Mr. Ung primarily represents real estate investors, owners and lenders in partnership, LLC and joint venture... | Read More
Mr. Ung primarily represents real estate investors, owners and lenders in partnership, LLC and joint venture transactions (including real estate fund formation), bond, mortgage and mezzanine financing transactions, and transactions involving the acquisition, disposition, development, management, and leasing of office, retail, commercial, mixed-use and hotel properties. He also advises hedge funds and private equity funds on the purchase and sale of real estate mortgage and mezzanine debt, and the negotiating and structuring of complex workout arrangements in connection with the ownership or foreclosure of real property assets.Close
Other Formats— Anytime, Anywhere
CLE On-Demand Video