Land Preparation & Protection
Chicago Title’s professionals offer unique partnerships with our developers, providing expertise, support and specialized builder services in land acquisition transactions. Our solutions compliment the lengthy land development process, from prior to land acquisition, through development to sale-out.
There are three types of land acquisition deals:
- Unentitled: Land that is unentitled has no current approvals for development and will need to go through significant planning, mapping, and legislative approvals before construction may begin.
- Entitled: Land that is entitled has government or legislative approvals for a particular development but still needs to go through mapping and final map recordation before construction may begin.
- Fully Improved Lots: In this situation, the land has all the entitlements and legislative approvals.
Prior to Land Acquisition
By engaging Chicago Title to work as a member of your team prior to the acquisition of the land for development, we can begin the work of title examination, and propose solutions to title related issues such as:
- Prepare a Preliminary Title Report, which identifies:
- "Blanket Floating" or otherwise undefined or unlocated easements
- Implied or actual rights of surface entry for the development of existing oil or mineral rights
- Recorded covenants, conditions and restrictions (CC&R's) which limit or prohibit the proposed development
- Boundary documents which may create gaps or overlaps with the description or establishment of the boundaries of the subject property
- Easements of record which may, based on their location or use, impair or otherwise limit the proposed development
- Issues involving primary or secondary access to the project site
- Prepare Proforma Policies and/or Guarantees
- Provide final title insurance policies for owners and lenders
- Obtain a Public Report from the Bureau of Real Estate (BRE)
- Assist the Builder/Developer with clearing entitlement issues
The above listing represents just a few of the issues which may delay, hinder or otherwise impair the proposed project development plans. However, since we will be working with you and the development team thereafter, consider seeking our input prior to closing the land acquisition escrow.