Many people wonder whether they need to involved title insurance with a Torrens property. In this article, we are going to discuss the importance of working with a title insurance company on your Torrens property.
Errors on the Certificate of Title
While the Torrens system is supposed to be the gold standard for what title is, it is not perfect. Below are a handful of the errors we see in the certificate of title with Torrens property:
- Old mortgage documents that don’t affect title.
- Documents that were accidentally dropped from successive Certificates of Title.
- Missing parcels on the Certificate of Title.
- Too many parcels on the Certificate of Title.
- Documents recorded against the wrong Certificate of Title.
- Incorrect dates, recording dates and document numbers.
- Incorrect description of the document.
- The wrong owner shown on the Certificate of Title
- The wrong legal description on the Certificate of Title
- The wrong instruments recorded against a certificate of title
Fixing These Errors
When these errors arise, it’s important to address them in a timely manner. Your title company can work with the Examiners of Title to have these items corrected. This can be a drawn out process as we search through the history of the title and go back and forth with the examiner of title to correct the certificate of title.
Commercial Title Insurance Company
If you are looking for a commercial title insurance company, you’ve come to the right place. At Commercial Partners Title Company, we are known throughout the industry as experts in commercial title transactions. Our team of escrow agents, title closers, and more can help guide you through the details of your commercial transaction – answering all of your questions along the way. Contact us today to learn more about our services and how we can help with your next commercial real estate transaction.