When you purchase or inherit property, eventually you will secure the deed to the property. The deed is a document that details the transfer of ownership from someone else to you. If you ever need to prove ownership or you’re getting ready to sell your commercial property, having your commercial property deed will come in handy.
With that said, we understand how easy it is for important documents to get lost. Maybe it got misplaced during a move, it got lost in a fire or you simply can’t track it down even though you swore that you stored it in your home safe. What should you do if you can’t track down the deed to your commercial property? We explain what steps you should take in today’s blog.
I Lost My Commercial Deed - Getting Another One
Misplacing your commercial property deed isn’t ideal, but at the same time, it’s not a huge problem either. It’s not like someone can find the deed, write their name on the document and claim that they now own your property. Although the deed is a document that showcases the transfer of ownership, simply writing your name on the deed does not constitute an official transfer of the property’s title. However, you probably want another copy of the deed for your records, so what’s the best way to do that?
There are a few different ways you can secure an official copy of your commercial title if you’ve lost the original. For starters, you may be able to obtain a copy by heading to your local registrar’s office. They will need to verify your identity and prove that you are the named individual on the deed, so you’ll likely need to visit their office in person in order to secure another copy. Depending on the county, there may also be a small fee associated with reissuing an unofficial or a certified copy of your deed.
If you obtained the property with the help of a title service company, you may also be able to reach out to them. They likely have copies of the deed on file and may be able to send you an unofficial copy for your records. They can also walk you through the steps of obtaining a certified copy if you need an official version. A title company can be a great resource if you need assistance with a deed, title or official documents associated with a property if you have worked with them in the past.
If we helped with your commercial acquisition or property inheritance, we can help you track down lost records or documents when you need them. Give the team at Commercial Partners a call if you have any questions or need assistance with another commercial real estate matter. Connect with us today at (612) 337-2470.