Many people conducting commercial real estate transactions have questions about what their title insurance policy will cover. In this article, we are going to discuss a few things that commercial title insurance covers and, perhaps more importantly, what it does not cover.
What Commercial Title Insurance Covers
Commercial title insurance protects your ownership interests in the property you are purchasing. When a title company furnishes you a title insurance policy, they have done a thorough search through the property chain of title and resolved any outstanding issues that could cause issues in the future. Once you have a title insurance policy, you can rest assured that your interests are covered and that your title company will handle any claims that arise in the future.
What Commercial Title Insurance Does Not Cover
A common misconception is that title insurance protects you against property damage or injury claims. This is not true. These types of claims are usually covered by a different type of policy (for example, a homeowner’s policy). It’s important to understand what your title policy does and does not cover so that you can plan for additional coverage should you need it.
Hire Commercial Partners Title for Your Next Commercial Transaction
Don’t fret about your commercial transaction! Leave the details Commercial Partners Title Company. Our team is here to help you navigate all the obstacles of a commercial transaction. We can answer all of your questions and prepare your documentation prior to closing. We have title closers, underwriters, escrow agents, and more – all ready and waiting to assist you with your commercial transaction. Contact us today to get a better understanding of the services we offer and see how we can help with your next commercial real estate deal.