When you’re purchasing real estate, the topic of title insurance is bound to come up. Many people have questions about how title insurance operates. In this article, we are going to discuss how owner’s title insurance protects your property from the time you close until the time you eventually sell the property.
The Benefits of Owner’s Title Insurance
When you purchase an owner’s title insurance policy, you (the owner of said property) are protected from any future claims that someone might bring against your property. Despite the best efforts of all involved, sometimes there are errors or defects in the chain of title to your property that may have been overlooked during a title search. If this happens and someone brings a claim against your property, an owner’s title insurance policy will protect your interests in the property. That means if a claim arises, your title insurance company will cover legal expenses and other associated fees required to resolve the claim. These potential fees can add up significantly and cause a huge headache for the property owner. That’s why most people purchase an owner’s title policy for their property – especially considering that the cost of a title insurance policy is nothing compared to the costs associated with having to defend a title claim.
Commercial Title Company
Commercial Partners Title Company has been facilitating commercial real estate transactions for decades in Minnesota and across the United States. Our team consists of escrow agents, title closers, and more. We are recognized as experts in the field of commercial title insurance and can put our experience to work on your next transaction. Contact us today to learn more about our service portfolio and see how we can help walk you through the details of your commercial real estate transaction.