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ARTICLE · 23 FEBRUARY 2025

Yes, You Need An ALTA Survey – Here's Why (Significant Changes To Title Insurance And Affirmative Coverage)

Cuddy & Feder LLP
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Most commercial real estate owners and developers don't spend much time worrying about title insurance. After all, that's what lawyers are for, right? However, recent changes to New York title insurance...

United StatesInsurance
Thomai (Amy) Natsoulis
Thomai (Amy) Natsoulis
Matthew McAllister
Matthew McAllister

Most commercial real estate owners and developers don't spend much time worrying about title insurance. After all, that's what lawyers are for, right? However, recent changes to New York title insurance, effective October 1, 2024, deserve attention—particularly for real estate owners and developers.

On October 1, 2024, the Title Insurance Rate Service Association, Inc. (TIRSA) adopted a revision to the Title Insurance Rate Manual, which guides New York State Title Insurance Agencies in issuing policies to real estate owners and lenders. The revised manual introduces new policy forms that enhance readability and clarify previous ambiguities. Notably, standard premium rates remain unchanged.

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