- The city accepts only Title Insurance Commitment for proof of Title.
- The title commitment must cover the whole project site, just as if the city were a commercial real estate developer who was going to buy the whole site from whoever owns it today.
- All submittals must include a complete Schedule A and B.
- The City of Scottsdale must be listed as the proposed insured.
The title information must not be more than 30 days old at the time of the dedication.
- Title information for single family residential dedications is to be provided at the time of the first submittal
- Title Insurance Commitment for commercial dedications is to be provided with the first submittal and title information must not be more than 30 days old at the time of dedication – so new title/updated information is required prior to final approval
The Schedule B requirements must call for:
- A deed from the current owner to the city.
- Releases of all liens, as if the city were going to pay cash for the land and not assume any liens or take subject to any liens.
- Termination of all leases. (Leases with 24 or fewer months remaining in their term may be listed in the Schedule B exceptions instead.)
- Any other specific payments or specific document recordings that the title insurer would normally call for (such as payment of delinquent property taxes).
The Schedule B exceptions must show any other specific title matters that may exist.
The applicant MUST cure any title problems the city requests.
If the title information shows any unpaid deeds of trust, mortgages, HOA assessments, back property taxes, or other liens, the Applicant must provide the City with a copy of the recorded release of the lien or the dedication must include a signed and notarized Confirmation of Dedication.
The title information can be submitted without copies of the legal documents mentioned in the information. However, if the City of Scottsdale has questions about such documents, the city may require such copies and may delay processing the application until the copies are provided.
Both “standard coverage” and “extended coverage” title commitments are acceptable. (The title information on an extended coverage commitment must be identical to the title information that would be on a standard coverage commitment. The only difference is that the Schedule B requirements for an “extended coverage” commitment will call for a survey and will allow the title company to add Schedule B exceptions or requirements for any problems the survey reveals.)
There is no need to open an escrow to make a routine dedication. The city will record the dedication directly without sending it through the title company. Often, the city will not actually buy the title insurance described in the commitment or require the applicant to buy it. But, if the city decides to do it (or require the applicant to do it), then the city or the applicant will follow up with the title insurer to pay the insurance
The applicant shall inform city staff in writing of any and all title changes that occur after the title commitment is issued.
The City of Scottsdale reserves the right to request additional information, up to and including a requirement that the Applicant secure a new title insurance policy in favor of the City of Scottsdale. For more information check out : https://www.scottsdaleaz.gov/bldgresources/planreview/title
Please note that this Scottsdale Real Estate Blog is for informational purposes and not intended to take the place of a licensed Scottsdale Real Estate Agent. The Szabo Group offers first class real estate services to clients in the Scottsdale Greater Phoenix Metropolitan Area in the buying and selling of Luxury homes in Arizona. Award winning Realtors and Re/MAX top producers and best real estate agent for Luxury Homes in Scottsdale, The Szabo group delivers experience, knowledge, dedication and proven results. Contact Joe Szabo at 480.688.2020, [email protected] or visit https://scottsdalerealestateteam.com to find out more about Scottsdale Homes for Sale and Estates for Sale in Scottsdale and to search the Scottsdale MLS for Scottsdale Home Listings.