The title company plays an integral role in any commercial real estate transaction. However, many people don’t understand what exactly the title company’s role is and why they are necessary. With that in mind, in this article, we are going to explain what exactly your title company does during the course of your real estate transaction.
In a Nutshell
In very basic terms, the title company has two roles in a commercial real estate transaction:
That all sounds very simple, but it can end up being more complicated than it seems.
The first step in this process is the title search. The title company will search through the historical records that make up the chain of title to make sure that there are no errors or issues with the past ownership of the property. If they do uncover any issues they will resolve them during this process.
Based on the title search, the title company then provides the owner (or lender) with a preliminary title report detailing the findings.
Then the title company works with the insured to develop a title insurance policy that fits their particular needs.
Minnesota Title Company
At Commercial Partners Title, we are recognized in Minnesota and across the country as experts in title insurance. Regardless of the details of your transaction, we can work with you from start to finish to ensure a smooth process. Our team consists of escrow agents, title closers, underwriters, and more who are all equipped to advise you on the details of your transaction. Contact us today at our office in downtown Minneapolis to discuss the details of your commercial transaction and see how our title experts can help!