New York Title Insurance

If you are conducting any type of real estate transaction in NY State, you should know that closing a real estate purchase in New York works much differently than it does anywhere else, and that includes communities outside the city like Buffalo, NY, and Carmel, NY. Having a diligent, meticulous buyers attorney as well as a reputable NY Title Insurance company by your side is imperative to a successful, efficient, and smooth closing. This is true whether you are a buyer or a lender who needs lender’s title insurance in Saratoga County, NY.


Purchasing a Property in New York

Because the laws regarding real estate transactions are different in New York, including Westchester County, NY, than they are in other states, you will need counsel to assist you with any transactions conducted there. Obtaining buyer’s counsel will help ensure that all of your rights are protected during any real estate transaction in NY state and NYC boroughs like Brooklyn, NY, and Queens, NY. Most NY buyer attorneys will assist you with all of the following:

Buyers counsel will help ensure that all of your rights are protected.  Most NY buyer attorneys will assist in all of the following:

  1. Review the contract of sale with you
  2. Negotiate the contract of sale with the seller’s attorney when needed
  3. Verify that all terms of the contract, dates, etc. are complied with
  4. Assist in dealings with bank counsel and facilitate the obtaining of the mortgage financing
  5. Work hand and hand with the NY title insurance company in making sure a clean title is being provided
  6. Solidify the logistics of the closing with the NY title insurance company and other related parties to the transaction
  7. Preparation of Closing Statement

Major Differences in NY Title Insurance

One of the biggest differences in a NY real estate transaction is that a NY Title Insurance company typically does not disburse the proceeds from their settlement escrow account. Title insurance companies that have not done business in communities like Syracuse, NY, and Middletown, NY may not understand how this process works.

Title insurance services in New York This stems from Circular Letter No. 18, issued by the NY Insurance Department in December 1992. This prohibits NY title insurance companies from issuing closing protection letters in New York State. The department states “that [NY Title Insurance companies] lack authority to issue a CPL to a lender insofar as that lender’s attorney is concerned, because its purported protection falls beyond the scope of the monoline title insurer’s license and writing authority that is exclusively confined to Section 1113 (a)(18) of the Insurance Law.”

Since this ruling, NY title insurance companies have been prohibited from issuing these letters for lenders’ counsel. Since the disbursements are not additionally insured by the underwriters via a CPL, which is customary in many other surrounding states, it is the bank’s counsel that typically disburses funds under the settlement statement in a NY real estate transaction. If there is no bank involved, then typically the buyer and seller counsel will handle disbursements out of their settlement trust accounts, independent from their respective title companies. This applies to all transactions throughout the state, whether they occur in the Big Apple or in upstate communities like Buffalo, NY.

The mortgage tax in a NY purchase or refinance transaction is much higher than in most other states. The majority of states do not even have a mortgage tax, while the state of NY taxes the financing of home purchases heavily. In doing so, the state has provided a way for a borrower to avoid getting taxed on the same money twice. A CEMA (Consolidation Extension Modification Agreement) allows a borrower to consolidate their new mortgage financing with their old mortgage if the old lender allows it. Conducting the transaction in this manner allows the borrower to escape paying the same tax twice and only be taxed on new money from the new mortgage. Please see our page on Breaking Down a CEMA for more information.

Attorney Referral

Having proper representation at your closing is imperative. If you need a suggestion for the best local counsel that will provide you with the type of meticulous representation that you deserve, we work with dozens of attorneys in the area and would be happy to make an introduction to legal counsel for your upcoming purchase. Whether you are doing business in Brooklyn, NY or in an upstate community like Albany, NY, we can help you find the right attorney. When you provide us with the region in which you are buying, we can send you information for an appropriate attorney, whether you are looking for a title insurance agency in NJ or the neighboring states.

    Key Considerations for Obtaining Title Insurance

    The company you choose to provide your policy is one of the most important considerations you will need to make when purchasing title insurance. Working with the right agency will ensure you get a fair price, whether you need an owner’s policy or lender’s title insurance. Buying a title policy in NYC or other New York communities can also be complex, so having an experienced agent to walk you through the process will be helpful. A top agency like World Wide Land Transfer will also be able to provide other services that will be useful to lenders, buyers, and sellers alike.

    Navigating Through the Escrow Process

    Lenders and real estate agents may want to take advantage of the escrow services we offer. Real estate transactions are some of the largest purchases a person can make, so they want to do business with a professional title company they can trust. Any time you need funds to be held by a third party, WWLT is the right choice for you.

    Professional Title Insurance Company in NYC

    escrow new yorkWorld Wide Land Transfer has been facilitating real estate transactions in NY and all around the country since 2003. If you are buying a property, selling a property, or acting as a lender, and you need an experienced title insurance agency, our name should be at the top of your list. During our time as a title insurance company, we have completed countless transactions, and our team will always go the extra mile to ensure everything goes smoothly.

    We deal with all types of transactions from residential to commercial. We also specialize in working with lenders, and as an experienced title company in that regard, we understand the needs of lenders better than other title insurance companies operating in communities like Long Island and Bronx, NY. We can also provide additional escrow services to facilitate any type of transaction in NYC or the surrounding state. We have worked with all types of clients in the past, from residential buyers to some of the largest companies in the state. If you are involved in a real estate deal in an NYC borough like Queens, NY, or in another community like Westchester, NY, World Wide Land Transfer is the title company with the experience it takes to help you complete your deal successfully.

    Why Do You Need Title Insurance in New York?

    There are many reasons to purchase title insurance in NY, whether you are buying, selling, or lending.

    Home Buyers:

    Buying a home in an area like Brooklyn, NY or Long Island is a great investment, and although a title policy is not required in the state, it is a good way to protect the investment you are making. Your policy protects you from any defects that may come up from the time of purchase to the time you sell the property.


    Again, while insurance is not required to complete a sale, those who frequently sell homes, like house flippers, would be smart to look into purchasing a policy. Your policy can protect you from sustaining financial losses due to defects up until the point you sell the property. For a flipper, this could mean the difference between turning a profit and losing money on a deal.


    Lender’s title insurance is required any time a mortgage is taken out, so lenders in Carmel, NY, Albany, NY, and other communities in the Empire State need to find a reliable title insurance company to work with. Some title companies in Westchester County, NY, and surrounding areas do not have much experience working with lenders, but at World Wide Land Transfer, it is our specialty. Of all the title insurance companies out there, we are the most well-equipped to assist you as a lender.

    No matter which side of the deal you are on, protecting yourself with insurance will keep you from having to pay to resolve unexpected defects. When you speak with a title insurance agent, you can find out more about the types of defects that can come up. Call World Wide Land Transfer today if you are interested in finding out more about the cost of title insurance in New York, or if you have any other questions about title insurance companies.

    Professional Escrow Services in New York

    In addition to serving as your title insurance company, World Wide Land Transfer can help you with escrow as well. Certain funds need to be set aside during the completion of a real estate deal, and our team would be happy to provide that service for you. Call us today if you need escrow service in Bayside, NY, in Mineola, NY, or anywhere else in the area.

    Contact Us Today for a Quote!

    For those conducting real estate transactions in Saratoga, NY, Kingston, NY, and other communities in the empire state, there are many land title insurance companies to choose from. You may be tempted to choose a large title insurance company or one that was recommended by your attorney or real estate agent. If you find yourself in that situation and are looking for title insurance online, we encourage you to shop around and check out World Wide Land Transfer. With nearly two decades of experience, our efficiency and professionalism can’t be matched by other mortgage title insurance companies in Saratoga Springs, NY, and Buffalo, NY. In addition, our customer service sets us apart from land title insurance companies in Syracuse NY, and Watertown, NY.

    Call us today to speak with a title insurance agent about lender’s title insurance or any other title service you need in Saratoga County, NY, or anywhere in the country.

    *Please note pricing is subject to change for additional municipality fees

    We provide comprehensive NY Title Insurance in all of the following Cities and Counties:

    • Buffalo
    • Bronx
    • Brooklyn
    • Queens
    • Westchester County
    • Saratoga County
    • & More

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