Torrens property comes with many idiosyncrasies when underwriting title insurance. In this article, we are going to talk about how to deal with errors in title recording with Torrens property.
Recording Errors
If an instrument is not recorded on the Certificate of Title it’s (with some exceptions) considered that that item does not legally affect title to the property.
In the event that there was an error by the Torrens office that caused a loss – say the owner that was shown on the Certificate really was not the owner of the property – the state is responsible for that error and there’s a fund that pays for errors that occur on title Certificates due to mistakes by the Torrens office.
Torrens aren’t necessarily unique to Minnesota – there are 10 other states in the United States that have some form of the Torrens system. But each state differs in their particular rules and procedures.
Commercial Partners Title Company
At Commercial Partners Title Company, we handle commercial title transactions of all shapes and sizes. No matter how simple or complex your transaction, we have the knowledge and experience to help! Our team has decades of experience and has gained a reputation for being the experts in commercial title transactions. Contact us today at our Minneapolis office to learn more about our services and see how we can help!