Alliance makes city a better place.TitleVest, a leading provider of title insurance and related services, and Lawyers Alliance for New York Lawyers Alliance for New York Lawyers Alliance for New York (Lawyers Alliance) is a 501(c)(3) nonprofit organization that provides business and legal transactional services to nonprofit and community development organizations in the U.S. state of New York. , a leading provider of business legal services legal services n. the work performed by a lawyer for a client. for nonprofit organizations, have formed a strategic relationship in which TitleVest will offer its services on a pro bono Short for pro bono publico [Latin, For the public good]. The designation given to the free legal work done by an attorney for indigent clients and religious, charitable, and other nonprofit entities. basis to the nonprofit organizations served by Lawyers Alliance. Where permitted by state law, TitleVest will provide professional title services and support free of charge and will waive all discretionary fees for Lawyers Alliance's affordable housing clients. State law requires that title firms charge mandated fees for some services. Nonetheless, TitleVest's pro bono services on behalf of Lawyers Alliance are expected to result in significant cost savings for New York's nonprofit housing organizations on every one of their real estate transfer transactions. TitleVest will offer title searches, judgment and lien searches, open mortgage searches, bankruptcy and foreclosure foreclosure Legal proceeding by which a borrower's rights to a mortgaged property may be extinguished if the borrower fails to live up to the obligations agreed to in the loan contract. searches, and will prepare real estate transfer documents--all on a pro bono basis. In addition, TitleVest will waive customary fees for escrow escrow Instrument, such as a deed, money, or property, that constitutes evidence of obligations between two or more parties and is held by a third party. It is delivered by the third party only upon fulfillment of some condition. service, document recording service, survey inspections and mortgage payoffs. Bill Baron, President of TitleVest, said, "I firmly believe that pro bono business initiatives, such as ours, improve the city's overall economic health. The city becomes a better place for business." |
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