Title searchers perform an essential function throughout the course of commercial real estate transactions. But much of their work happens behind the scenes so many people aren’t aware of what exactly they do. In this article, we are going to discuss the important part title searchers play in a commercial title insurance transaction.
What Does a Title Searcher Do?
First off – what exactly does a title searcher do? A title searcher has the important job of performing a title search on a property before it’s sold or purchased. During a title search, the title searcher goes back through the chain of title on the property (essentially the history of who previously owned the property) and searches for any issues or defects that may have an impact on the new transaction.
The Importance of a Title Searcher
Why is a title search so important? That’s a great question that we hear a lot. A title search is an absolute necessity in any commercial real estate transaction as it clears up any inconsistencies or defects in the chain of title. This ensures that the buyer of the property will be the full legal owner when they close and that there are no unresolved liens on the property. If a title search is not done, there may be unresolved defects in title that could jeopardize your ownership rights in the future.
Commercial Title Company in Minneapolis, MN
Commercial Partners Title Company has been facilitating commercial title transactions for decades. We put our extensive knowledge and experience to work on each and every transaction we facilitate. Our team consists of escrow agents, title closers, and more who are waiting to walk you through the details of your next commercial title transaction. Contact us today at our downtown Minneapolis office to learn more about our services and see how we can help you through your commercial transaction.