In one sentence
A title endorsement updating the effective date of coverage to confirm no new matters appeared since the last search.
The longer version
Date-downs re-search title as of a later date, confirming nothing new recorded, and are essential in construction draws where each advance needs assurance of continued priority.
In construction, date-downs run with every draw, making them a recurring title item across the life of the project.
Common questions
- What is a date-down endorsement?
- A title endorsement updating the policy's effective date to confirm no new liens or matters have recorded since the last search.
- When are date-down endorsements used?
- Most often with each construction draw, to confirm no mechanics' liens have recorded before the lender advances more funds, and on loan modifications.
- What happens if a date-down shows a new lien?
- The lender usually requires it to be released or bonded off before funding the next draw.
Keep reading
- The commercial loan closing checklistWhat goes on the list and who owns each line.
- The due diligence checklist, built to be runChecklists as systems, not documents.
- The commercial loan closing processThe five stages from term sheet to funded.
- Commercial loan softwareWhere this sits in the lending stack.