title insurance question

Although cooperative leasehold title insurance has long been available in New York, because the ownership interest being purchased is personal property not real property and, accordingly, coop purchase loans are not secured by leasehold mortgages but rather by pledge agreements secured by UCC 1 filings, such insurance has never become customary.

http://www.firstamny.com/detail.aspx?id=145&mid=9091

Mets 2009 is absolutely correct. Nonetheless, it is advisable to buy "title" insurance for a coop apt. It's relatively inexpensive and protects the buyer in the event of any title issues.

Do not purchase or refinance without contacting Mike Scarsellato at Entitle Direct (a direct title insurance underwriter) for the absolute lowest title insurace rates/premiums. 877-936-8485x6276