Practices
Title Services
Our Title Services group is comprised of professionals and paraprofessionals with a combined total of over 55 years of experience in the real estate and timeshare industry, including registration, insurance, inventory and recordkeeping.
A number of attorneys in the firm participated in the creation of a land development company in the mid-60’s, and the firm soon began working with the developer handling various legal issues facing the young company in the land development business. The firm was involved in overseeing the registration of properties and creating regimes, as well as overseeing financing and securities issues experienced by the land development company. Working with the developer, the firm was instrumental in arranging financing, filing registrations with HUD and state Real Estate and Securities Departments, preparing covenants and restrictions for the various properties being developed, and in the acquisition and financing of developments in other states.
In the late 70’s, the developer decided to become involved in a new resort product-timeshare. The firm prepared the legal documentation for creation, registration and financing of the project regimes, and the developer became one of the pioneers in the timeshare industry. In the mid-80’s, a new timeshare concept was created, an undivided ownership interest, or UDI. It has now become the primary type of timeshare interest sold by the developer.
Since the mid-70’s, Warner Smith Title Services has continually sought to expand its title insurance role, handling over 93 projects and issuing in six states for many commercial clients. It has developed a computerized program wherein it is able to monitor deeded inventory and issue title insurance based upon its records. It has created property databases for both new and existing projects, consisting of owner and residential timeshares, unit weeks and UDI (undivided interest) transactions. It has become efficient in the issuance of title insurance, and in the accounting practices necessary and involved in acceptable reporting to its underwriters, Lawyers Title Insurance Corporation, Lawyers Title of Nevada and Stewart Title Guaranty Company. Warner Smith Title Services also handles deeding and required supporting documentation for developers in the states where it issues title insurance.
Warner Smith Title Services is uniquely positioned to offer varied, valuable experience to timeshare developers, from deeded inventory control, development of regimes, registration with state agencies, preparation and maintenance of inventory databases, preparation and recording of deeds, resales and issuing title insurance.