Many people assume that every title insurance policy is basically the same, but this is not true at all. Each and every title insurance policy is different because each transaction is different. In this article, we are going to outline some of the basic differences between title insurance policies and how to find one that meets your unique needs.
Differences Between Title Insurance Policies
There are several different categories of title insurance policies. The biggest two categories are lender’s title insurance and owner’s title insurance. These two types of policies are very different in that they insure completely different parties. The lender’s policy insures the lender, while the owner’s policy insures the owner. Within the realm of owner’s title insurance, there is even more variety. Because each property is different, some policies may require a number of endorsements, while others may not need any endorsements.
Communicate with Your Title Insurance Company
The best thing you can do to ensure the success of your commercial title transaction is to communicate openly and honestly with your title insurance company. Explain to them the details and the needs of your property so they can put together a title policy to meet your specific needs.
Get Help with Your Next Commercial Transaction
Get the help you need with your next commercial transaction by contacting the experts at Commercial Partners Title Company. For decades, we have been facilitating commercial title transactions of all shapes and sizes in Minnesota and across the United States. We have a strong reputation in the commercial title industry and can help you through the ins and outs of your commercial transaction. Reach out to us today at our Minneapolis office to see how we can help you through your next commercial transaction!