A commercial title search involves scouring the entire history of title for a specific property in order to ultimately offer the buyer or lender a title insurance policy. In this article, we are going to talk about what we (as a commercial title insurance company) look for when conducting a title search on a commercial property.
Defects & Clouds
Anything that clouds the chain of title to a particular property must be identified and addressed in the initial title search prior to offering a title insurance policy. We are well verse in title searches and can quickly identify and resolve title defects and clouds.
Errors & Omissions
Errors and omissions are two additional things we keep an eye out for when conducting a title search. If a previous owner forgot to sign a document in the history of title, or a specific document wasn’t filed correctly decades in the past, it could impact your interest in the property. A title search can identify and resolve these issues.
Outstanding Debts & Liens
We’re also on the lookout for any outstanding liens on the property. For example, if a contractor performed work on the property but was never fully paid, that could become an issue. Or if there is an outstanding tax lien on the property – that can also be an issue. We’ll get all of these sorted out before issuing your title insurance policy.
Commercial Partners Title Company – Minneapolis, MN
Commercial Partners Title Company is your go-to source of information for all things related to your commercial real estate transaction. Whether you need help with construction disbursement, title underwriting, or something else – we’ve got you covered! Contact our team of commercial real estate experts today to get to know more about how we can help you through the many details of your next commercial transaction. Find us at our Minneapolis office to set up a time to chat about how we can help!