Obtaining a correct legal description of your property with the help of a title company is an essential step in a commercial transaction. But why is that the case? In this article, we are going to explain why it is important to obtain an accurate legal description of your property.
Many people will compile their property legal description using prior documents, tax legal descriptions, or other sources. But this can lead to incorrect legal descriptions and land you in hot water. There are a number of potential problems that can arise if you fail to obtain a full and accurate legal description of your property.
One of the most common issues we see arise from inaccurate legal descriptions is the clouding of title. When you have an inexact legal description, it can cloud the title of your neighbor’s property. Ultimately, this can result in costly litigation.
This is why it is always important to work closely with your title insurance company to obtain a full and complete legal description of your property. Doing so can save you a lot of money, frustration, and legal trouble in the future.
Facilitating Commercial Transactions
Commercial Partners Title has decades of experience facilitating commercial transactions for clients, both in Minnesota and across the United States. Our track record of success has led to our recognition as experts in the field of commercial title insurance. Our team of commercial closers, title underwriters, and attorneys can help you through every step of your commercial transaction and make sure that all of your bases are covered. Reach out to our commercial title experts today at our downtown Minneapolis office to talk more about your transaction.