Title insurance for fine art and important collectibles will become an industry standard just like title insurance for real property. Those works that cannot qualify for title insurance will become unmarketable.
Miami, FL (PRWEB) December 15, 2014
The Ivy Family Office Network hosted its December 2014 Family Office Outlook Forum in Miami, FL on December 1st. Judith Pearson, President of ARIS Title Insurance, led a panel discussion on “Art Loans and Transactions of Interest”.
Pearson said, “Private investors are focusing on alternative asset classes. Fine art and other important collectibles have all experienced significant returns when well advised investors have carefully committed capital to these assets.”
“But the escalation of values for fine art and other collectibles are bringing collectors and investors to understand the need for implementing transactional standards in the art market similar to transactional standards that exist in all other asset classes.”
Finally “Ownership and therefore title insurance is the keystone for fine art and other important collectibles to transition from a passion purchase to an asset class. Improper asset management for art can have a significant impact on collectors' tax, trust and estate plans. We believe that title insurance for fine art and important collectibles will become an industry standard just like title insurance for real property. Ultimately those works that cannot qualify for title insurance will become unmarketable.”
Other speakers on the panel included Elizabeth von Habsburg of Winston Art Group, Stephen Brodie of Herrick Feinstein & Annelien Bruins, of Tang Art Advisory.
Ms. Pearson is the co-founder and President of ARIS Title Insurance Corporation, the world leader in guaranteeing legal title to non-real property assets. Ms. Pearson regularly consults to museums, auctions houses, financial institutions, individual collectors and fiduciaries to mitigate the respective financial, liability and tax consequences due to legal title risks that are inherent with fine art and other important collectibles in the global art market.
ARIS Title Insurance Corporation ("ARIS") is domiciled and licensed in the State of New York. ARIS serves the art market and related businesses in the fiduciary banking, legal, museum and non-profit communities. ARIS developed the field of art title insurance and offers the world's first and only title insurance for art and similar tangible personal property.
About The Ivy Family Office Network Forum
IvyFON, is a leading peer to peer global family office network with several hundred family offices attending events internationally every year. Some of the more than 2,500 past speakers include most of the top 10 largest asset allocating consultancies, pre-eminent alternative investment funds, leading institutional investors, best-in-class asset management professionals, family office subject matter experts and world-class family offices. IvyFON is one of the largest global family office networks with more than 3,000 forum attendees annually. The group includes New York City and Los Angeles multi-discipline deal networks. More than 20,000 investment, family office and institutional investment professionals have attended forums globally.
For more information on ARIS Title Insurance Corporation contact Judith Pearson at PH 212 563 3600. For more information on the Ivy Family Office Network, contact us at 646-290-8114 or at ivyfon.com/contact.html.