Title insurance is essential in any commercial real estate transaction and it’s a great way to protect yourself from any potential issues that may arise in the future. In this article, we are going to talk about how title insurance is a great way to avoid future legal problems down the line.
Owner’s Title Insurance
An owner’s policy of title insurance also protects you (as the owner of the property) from any potential claims that are brought on the property in the future. Even if there is some error in the chain of title that the title insurance company missed during their title search, you will still be covered by your policy (depending on your specific situation). If a person brings a claim on your property, your title company will cover any expenses and legal fees required to resolve the claim. In essence, owner’s title insurance is the title company saying “we’ve searched through the chain of title and are confident that there are no errors. And if there are errors, we will cover the insured to resolve these.” These potential legal fees can be quite costly and pale in comparison to the cost of obtaining an owner’s policy of title.
Commercial Title Experts
Commercial Partners Title is recognized across the United States as the go-to expert for commercial real estate transactions. Our team of title closers, underwriters, escrow agents, and more will help you navigate the ups and downs of your real estate transaction so you feel confident and secure. No matter what the details of your transaction, we provide top-notch service to each and every one of our clients. Give us a call today to discuss the details of your transaction, or visit us at our downtown Minneapolis office.