While commercial title insurance is an invaluable aspect of any transaction, it’s important to understand that title policies have their limits. In this article, we discuss the potential limits of a commercial title insurance policy.
Possible Limitations
In essence, a title insurance policy protects you from potential claims brought against your ownership interest in the property you purchase. That being said, not every commercial title policy will cover every single thing you can think of. For example, there may be easement rights, or use restrictions that are not covered in a standard commercial title insurance policy. Depending on the details of your transaction, it may be possible to cover these items, but would likely necessitate supplemental coverage.
This is why it’s extremely important to communicate early and often with your commercial title company so that they can account for any additional coverage that’s needed. Being on the same page as your title company at all stages of the process is the best way to ensure that your commercial transaction goes off without a hitch. Your title company is there to guide you through the process and answer any questions you may have so don’t hesitate to ask questions as they arise!
Commercial Partners Title Company – Minneapolis, MN
At Commercial Partners Title Company, our entire focus is on making your commercial transaction a success. With over two hundred years of experience among our team, we are experts in commercial title transactions. No matter how big or complex the transaction, we have the skills and experience needed to prepare everything for the closing table. Reach out to our team of title closers, underwriters, and escrow agents today to learn more about the commercial title process, our commitment to customer service, and how we can guide your commercial transaction from the early planning stages to the finish line.