There are many reasons why it’s beneficial to secure title insurance coverage when purchasing commercial real estate. In this article, we are going to discuss two ways in which title insurance protects your commercial property.
Title Insurance Uncovers Defects in the Chain of Title
Commercial real estate properties often have lengthy title histories that date back to when the property was built. Depending on the age of the property in question, the chain of title may not be as clear as you might hope. When you purchase title insurance coverage, one of the first things that your title company will do is conduct a complete review of the chain of title for the insured property. During this review, the title searcher will uncover and resolve any existing defects or errors in the chain of title prior to the closing table.
Title Insurance Protects Against Future Title Claims
When you secure a title policy for your commercial property, it protects your interest in the property against future title claims. If a party brings a claim against your commercial property at some point in the future, your title company will resolve the issue and cover all associated costs, as outlined in your specific policy.
Commercial Transactions Can be Complex – We Make Them Simple
A commercial real estate transaction can be a complex thing. At Commercial Partners Title Company, we do everything we can to make transactions as simple as possible. Let our team of escrow agents, title closers, and title underwriters take care of all the nitty gritty details of your commercial transaction. You can trust our combined two hundred years in the title insurance industry. We have the skills and knowledge to make sure your commercial transaction goes off without a hitch. Contact our team today at our offices in downtown Minneapolis to learn more!