Attorney Marc Rovner on Protecting Property Investments in New York
Buying property in New York operates differently than almost anywhere else in the country. The state maintains distinctive procedures that catch unprepared buyers off guard, creating delays and complications that proper guidance could easily prevent. Attorney Marc Rovner has spent years helping clients understand these unique requirements and the protective measures that safeguard major real estate investments.
New York’s Dual-Layer Title System
Most states handle title work through a single channel. New York splits responsibilities between attorneys and dedicated title insurance companies, creating a two-part protection structure that strengthens safeguards but demands clear understanding of who handles what.
Attorneys typically manage the investigative title search process, examining public records to uncover ownership history, outstanding liens, unpaid taxes, and other encumbrances attached to a property. Title insurance companies then provide the actual coverage protecting against defects that escaped detection during the search.
Attorney Marc Rovner points out that New York generally requires attorney involvement in property purchases. Legal professionals guide buyers through intricate procedures, negotiate contract terms, and review documentation to confirm properties stand legally clear before money changes hands. Specialized title closers also attend settlement meetings to oversee document execution and verify proper fund transfers between parties.
The New York State Department of Financial Services regulates insurance rates across the industry, establishing uniform pricing that prevents predatory practices. Buyers can focus on evaluating service quality rather than comparing wildly different premium structures from company to company.
Why Title Searches and Title Insurance Serve Different Purposes
Many buyers confuse these two protective elements or assume one eliminates the need for the other. They actually perform distinct functions that work together.
A title search acts like a background investigation on the property itself. Professionals comb through public records looking for red flags: previous owners with unresolved debts, boundary disputes with neighboring parcels, judgments that could transfer liability to new owners, or recording errors in official documents.
Title insurance provides financial protection against problems the search missed. Forged signatures buried in decades-old transactions, unknown heirs with legitimate ownership claims, and clerical mistakes in courthouse records can all surface years after closing. A single premium paid at settlement keeps coverage active for as long as you or your heirs own the property.
Attorney Marc Rovner regularly sees homeowners benefit from title insurance when unexpected claims emerge from a property’s history. Easements restricting how land can be used, fraudulent deeds executed by imposters, and liens from contractors never paid by previous owners have all triggered coverage that saved current owners from devastating losses.
Selecting Partners Who Know Local Requirements
Working with professionals unfamiliar with New York’s specific procedures invites unnecessary risk. Title agents conduct exhaustive searches, resolve complications that arise during examination, and ensure documentation maintains accuracy throughout submission. Their qualifications and experience levels directly impact whether closings proceed on schedule or face frustrating setbacks.
Gathering quotes from multiple providers helps compare pricing and coverage details. Reading policy specifics reveals exclusions or limitations that could affect protection if issues surface later. Investing time researching options before committing typically produces smoother transactions and stronger long-term security.