There are a lot of potential problems that can crop up throughout the course of a title search. In this article, we are going to discuss a few of the more common title insurance issues that can arise in commercial transaction and how you can deal with them.
Missing Documents & Signatures
Throughout the course of a property’s history, important documents can be misfiled or misplaced. It’s also possible that certain parties fail to sign the correct documents. All of these things can cloud the chain of title to a property and (potentially) put your ownership interest in the property at risk. This can particularly be a problem with older properties wherein the chain of title goes back hundreds of years.
Unpaid Taxes or Other Liens
Unpaid taxes or other liens (for example, a subcontractor who worked on the property but was never paid in full) are other such issues that may appear when doing a title search. It’s absolutely essential that these issues be cleared by before you purchase your property so that you don’t get stuck with any unexpected bills that should have been paid by former owners.
Find a Commercial Title Company Near You
Are you about to embark on a commercial real estate transaction? Find a commercial title company near you for help navigating the process of executing a commercial real estate transaction. Commercial Partners Title Company has decades of combined experience that we can put to use on your next transaction. Over the course of our time in the industry we have built a well-earned reputation as being experts in commercial title transactions. Our team consists of title searchers, closers, escrow agents, and more who are here to guide you through every stage of your commercial real estate transaction.