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 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 relevant matters:
- What are the issues to consider 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?
Jeffrey R. Escobar
Norton Rose Fulbright US
Mr. Escobar advises horizontal and vertical project owners, real estate companies, joint ventures, institutional... | Read More
Mr. Escobar advises horizontal and vertical project owners, real estate companies, joint ventures, institutional owners, closely held developers, lenders, investors and private equity funds across the U.S. and throughout the Americas on their deployment of capital on their most complex and large-scale projects. From the construction of a professional sports stadium and the only aerial commuter tramway system in the country, to the development and construction of large luxury apartment communities and the engineering of energy facilities, there is no energy, infrastructure, real estate, construction or development project too large or too small that Mr. Escobar has not had experience leading.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