Commercial title insurance can be complex and intimidating for those who are dipping their toes in for the first time. It’s easy to feel a sense of overwhelm when dealing with a commercial transaction, but if you have an understanding of the basics, you will feel more informed and comfortable about the process. In this article, we are going to discuss a few essential things to remember when working in the realm of commercial title insurance.
Title Insurance Comes in Several Forms
It’s important to remember that there are several different types of title insurance. When it comes to commercial real estate, there are two basic types of title insurance:
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Lender’s Title Insurance. This type of title insurance protects the lender’s interests in the property and is often required in commercial transactions.
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Owner’s Title Insurance. This type of title insurance protects the owner’s interests in the property and is not always required (but is usually a good idea to have).
There are other elements that differentiate title insurance policies as well. Indeed, every title insurance policy is unique and should be treated as such by your title company!
Partner with a Title Company early in the Process
Another essential tip when doing a commercial real estate transaction is to partner with a title company early on in the process. There are a lot of moving parts in a commercial transaction and a lot of documents that need to be prepared for closing. The more time you can give your title company the better off everyone will be!
Contact Commercial Partners Today
Reach out to the commercial real estate professionals at Commercial Partners Title Company today to talk about the intricate details of your next commercial real estate transaction. Our team of experts has more than 200 years of combined experience working with clients throughout the United States on all types of commercial real estate transactions. No matter how complex your transaction, we have the skills and experience to ensure your success. Contact us today at our offices in downtown Minneapolis to set up a time to talk with a member of our team.