Contrary to what some might think, not all commercial title insurance policies are the same. In this article, we are going to talk about why all commercial title policies are different and investigate a few common differences between title insurance policies.
Commercial Title Policy Differences
Before we get any further, we need to make a distinction between the lender’s title insurance policy and the owner’s title insurance policy. The lender’s title insurance policy protects the lender, while the owner’s title insurance policy protects the property owner. Within owner’s title insurance policies, there are a lot of differences as well.
Each and every commercial title insurance policy is different because every property is unique. For example, certain properties may need specific endorsements to account for conservation easements or railways. Other properties may not require any endorsements at all. When crafting a title insurance policy, it all comes down to the specific property in question and the unique needs of the purchaser.
Communicate with Your Title Insurance Company
To ensure the success of your commercial transaction, the best thing you can do is communicate openly and effectively with your title company. Explain your unique needs so that they can draft a title insurance policy that is right for your situation.
Work with a Commercial Title Expert
It’s important to work with an experienced title company on every commercial transaction. Commercial Partners Title Company has been facilitating commercial real estate transactions of all stripes for decades. Over that time we have built up a reputation as experts in the field of commercial title insurance in Minnesota and across the country. Contact us today to learn more about our services and how we can help guide you through the ins and outs of your next transaction.