It’s a scary thing when someone brings a title claim against your property. Many people don’t know what to do or where to start in such a situation. In this article, we are going to discuss the recommended steps you should take if another party brings a title claim against your property.
Write a Letter to Your Title Company
If another party brings a title claim against your property, the first thing you should do is write a letter to your title insurance company informing them of the situation. This letter should describe the issue and include backup documentation about the nature of the claim and who is bringing the claim.
Let the Title Company Investigate
Upon receiving your letter, the title company will begin their investigation into the claim. This process may involve:
After the investigation is complete, your title company will respond and advise if your claim has been accepted, denied, or if additional time is required before making a determination.
Commercial Partners Title Company
Are you searching for a title company to help with your next commercial real estate transaction? If so, you’ve come to the right place. Commercial Partners Title Company has decades of experience facilitating commercial transactions of all shapes and sizes. Our team of title closers, escrow agents, and underwriters can help you understand the ins and outs of your transaction and ensure you are fully prepared when it comes time to close. Contact us today at our Minneapolis office to learn more about our services and how we can help!