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Madison Abstract
Madison Direct
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Madison Toolbox
670 White Plains Road
Scarsdale, NY 10583

Tel: (914) 725-7200
Fax: (914) 725-7724
info@madisonabstract.com
July 29, 2010
At Madison, we are highly experienced in commercial real estate titles including apartment complexes, shopping centers, and office buildings, and conduct multi-state, multi-property, and/or complex commercial transactions on a daily basis.

Madison also offers innovative and flexible underwriting via three nationally ranked underwriters: First American Title Insurance Company, Stewart Title Insurance Company, and Lawyers Title Insurance Company, as well as rapid resolution to a range of issues via the expertise of in-house counsel members. The company is skilled concerning securitized transactions and conventional bank financing, and provides expedited services on municipal issues via established connections between our executives and County/Borough officials.

Approximately eighty percent (80%) of our closings are done by our knowledgeable, in-house closers who are familiar with your file prior to closing, and who are able to execute the transfer or financing with efficiency and confidence. Additionally, Our comprehensible title reports can be made available in as little as four business days and are available for review on-line as they are being developed. Learn more about our Title Online.

We also provide industry updates including interesting news, people and/or places of relevance to the Real Estate/Title Industry via our monthly on-line newsletter Madison Abstractions. Visit our Newsletter Archive.
Madison Abstractions
Top Deals
$2.5M purchase of a Bronx apartment building

$2.0M purchase of a manhattan condo

$1.8M purchase of a Nassau residence
Tip of the Month
A religious corporation cannot sell, mortgage or lease for a term exceeding five years, any of its real property without applying for and obtaining leave of the Court. A court order is also necessary for mortgages with terms less than five years. Religious entities are subject to the same Not-for-Profit laws as not-for-profit corporations so in addition to court approval, the consent of two-thirds of the directors to the sale must be obtained. Strict compliance with the order approving the transaction is required, so if there is an amendment to the terms of the mortgage, the court order must also be amended. Since not-for-profit corporations are exempt from paying a transfer tax, the purchasers of said properties may have to pay the transfer tax by default.