1. Presented by: Crystal Leyvas Vice President, National Accounts

2. TABLE OF CONTENTS 2 History of Title Insurance - Watson v. Muirhead What is Title Insurance? Why You Need Title Insurance? The Life of a Title Preliminary Report Vesting for CA Statement of Information Title Policy Comparison Financial Strength Property Now App NTI Web smartVIEW Online Qualifications Thank you History of Title Insurance - Watson v. Muirhead What is Title Insurance? Why You Need Title Insurance? The Life of a Title Preliminary Report Vesting for CA Statement of Information Title Policy Comparison Financial Strength Property Now App NTI Web smartVIEW Online Qualifications Thank you

3. History of Title Insurance - Watson v. Muirhead 3 Source: http://www.cbtitlegroup.com/reference/history-of-title-insurancehttp://www.cbtitlegroup.com/reference/history-of-title-insurance In 1868, the celebrated case of Watson v. Muirhead (57 Pa. 161) was filed in Pennsylvania. In that case, Muirhead, a conveyancer, had searched and abstracted a title for Watson, the purchaser of a parcel of real property. In good faith and after consulting an attorney, Muirhead chose to ignore certain recorded judgments and to report the title as good and unencumbered. On the basis of Muirhead’s abstract, Watson went ahead with the purchase, but was subsequently presented with, and require to satisfy, the liens that Muirhead had concluded were not impairments to title. Watson sued Muirhead to recover his losses, but the Pennsylvania Supreme Court ruled that there was no negligence on the conveyancer’s part and dismissed the case. Watson, an innocent purchaser who had suffered financial damages because of the encumbrances on his title, had no recourse. The decision of Watson v. Muirhead demonstrated clearly that the existing conveyancing system could not provide total assurance to purchasers of real property that they would be safe and secure in their ownership. As a result of that decision, the Pennsylvania legislature shortly thereafter passed an act “to provide for the incorporation and regulation of title insurance companies.” The first title company was founded in Philadelphia in 1876. This new type of insurance (called “title insurance”), addressed the concerns raised in Watson v. Muirhead by providing: Responsibility without proof of negligence; Financial protection through a reduction of the risk of insolvency; and The assumption of risks beyond those disclosed in the public records (for which the abstractor was not liable).

4. What is Title Insurance? 4 Title insurance is protection for owners and lenders against financial loss from defects in title and real property. Why do you need title insurance policy? Title insurance protects owners from hidden risks that “are not shown by the public records and, therefore, are not discoverable by a search and examination of the public records”. Title insurance isn’t just for homeowners; they help protect any important investments. Why does the lender need a policy on my property? For the lender, a title policy is a guarantee that it has a valid and enforceable lien (loan or deed of trust) and that the party to whom they are making the loan to does own the property being used as a security for the loan. A lender’s title policy encourages lenders to loan money to investors, developers, and homeowners.

5. What is Title Insurance? Cont’d 5 What is a title search? Before issuing a title insurance policy, the title company must review the numerous public records concerning the property being sold or financed. The purpose of this title search is to identify and clear all problems before the new owner takes title or the lender loans money. What type of policies are there? There are 2 basic types of title policy - an “owner’s policy”, which covers the property owner for the full amount paid for the property; and a “lender’s policy”, which covers the lending institution over the life of the loan. Title insurance policy requires only one moderate premium for a policy to protect you for as long as you own the property. There are no renewal premiums or expiration date. Title insurance is protection for owners and lenders against financial loss from defects in title and real property.

6. Why You Need Title Insurance? 6 A deed or mortgage in the chain of title may be a forgery. A deed or a mortgage may have been signed by a person under age. A deed or a mortgage may have been made by an insane person or one otherwise incompetent. A deed or a mortgage may have been made under a power of attorney after its termination and would, therefore, be voided. The testator of a will might have had a child born after the execution of the will, a fact that would entitle the child to claim his or her share of the property. A deed or mortgage may have been procured by fraud or duress. Title transferred by an heir may be subject to a federal estate tax lien. An heir or other person presumed dead may appear and recover the property or an interest therein. A judgment or levy upon which the title is dependent may be void or voidable on account of some defect in the proceeding Claims constantly arise due to marital status and validity of divorces. Only title insurance protects against claims made by non-existent or divorced "wives" or "husbands."

7. The Life of a Title Search 7

8. Preliminary Report 8 Taxes CC&R Easements Agreements Trust Deeds Encroachments Notice of Violation Court Orders / Judgments Bankruptcy Notice of Pending Action Statement of Information Red Flags to look out for:

9. Vesting for CA 9 Title to real property in California may be held by individuals, either in Sole Ownership or in Co-Ownership. Co-Ownership of real property occurs when title is held by two or more persons. There are several variations as to how title may be held in each type of ownership. The following brief summaries reference seven of the more common examples of Sole Ownership and Co-Ownership. This chart is for reference purposes only. How title is vested has important legal consequences, and this chart should not be relied upon to make that decision. You should consult an attorney to determine the most advantageous form of ownership for your particular situation. Someone who is not an attorney cannot give advice regarding how to hold title because doing so would constitute the unlawful practice of the law. (05/14 CLTC) Information may vary state to state.

10. Statement of Information 10 It is routinely requested from the buyer, seller, and borrower in a transaction where title insurance is sought. A properly completed SI will allow the title company to differentiate between parties with the same or similar names when search documents recorded by name. A statement of information (SI) provides title companies with the information they need to distinguish the buyers and sellers of real property from others with similar names

11. Assessor’s Plat Map 11

12. Title Policy Comparison 12

13. Financial Strength As the leading provider of title insurance, with $ 1.9 billion in reserve insurance, we have the industry’s largest reserve for claim losses thus our underwriters offer the best protection for our policyholders. Security of our policyholders is always our main priority, and that’s why we have an A+ rating in claims paying ability. 13 Source: ALTA

14. NiteOwl PRO App 14 Legal description Parcel and tract information Tax information Property characteristics Transfer history Comparable sales Plat maps Search and locate property profile information like:

15. smartVIEW Online 15 State-by-state underwriting, recording and tax information- so you can avoid contacting multiple filing offices and websites. Powerful search capabilities to find the information you need. FREE: NTI is available at no cost to you. www.commonwealth.ntiweb.com

16. smartVIEW Online 16 This document management system provides the ability to post, view collaborate, edit, share and download documents. www.smartviewonline.net

17. Qualifications | Crystal Leyvas 17 Crystal Leyvas has built an impressive portfolio of specialties in the commercial title industry including multi-state, multi-family housing, resorts, and international deals in just eight years. As Vice President, National Accounts at Commonwealth Land Title Company, Crystal has navigated through numerous and complex areas of commercial real estate. Whether her clients are dealing with a multi-site, multi-family housing, or storage operation, Crystal applies her expert skills and business savvy to meet their needs. Commonwealth Land Title Company is elated to have her join their team of highly skilled account executives. It began in 2006, when Crystal launched her career to the title industry. She realized her potential to utilize her talents as a title account executive, which could offer the integrity and professionalism that clients have come to expect. From that point on, the velocity of her career has proven to be impressive. Her experience has included transactions from multi-unit housing to commercial storage properties. Her clients appreciate her desire to take on new challenges, where she consistently offers her credible talent for closing deals with her proactive approach. Crystal is aware of the complexities of the broad scope of each her client’s needs. Handling complex financial and international deals are no challenge for her. Crystal excels at communication and collaborating side by side with real estate brokers, escrow, attorneys, and underwriters. Her clients describe her as customer service oriented and going above and beyond their needs. She values each of the relationships she builds and handles each client with thoughtfulness and professionalism. Crystal is affiliated with nationally recognized groups, such as the International Council of Shopping Centers (ICSC), the National Association for Industrial and Office Parks (NAIOP), and she is a member of the American Hotel and Lodging Educational Institute. Crystal is also associated with Commercial Real Estate Women (CREW), which advances the achievement of women in real estate. She is also a proud member of the LEED Energy Group. Crystal currently resides in the Inland Empire with her children. Her daughter is currently in high school, while her son is attending the University of Arizona. Crystal understands the importance of helping her community, and is passionate about having her family offer aid to the homeless. When she’s not spending time with her family, Crystal enjoys her creative knack for interior design. (213) 330-3059 mailto:Cleyvas@cltic.com

18. 18 Crystal Leyvas Vice President, National Accounts