Affidavits are a commonly used tool in commercial title insurance. But they come in several different forms. In this article, we are going to discuss some of the most common types of affidavits used in commercial title transactions.
Affidavits Used as Evidence
One of the most common types of affidavits used in commercial title transactions are affidavits used as evidence that are filed in the real estate records. Within this category, there are numerous types of affidavits that may be allowed to be filed in the real property records, and there is a lot of variance from state to state. For example, an affidavit of scrivener’s error is allowed in Wisconsin, but not in Minnesota. This illustrates why it’s so important to work with a title company who understands the customs of the location in which your transaction is occurring.
Affidavits Used to Establish Facts
Another common type of affidavit is an affidavit used to establish certain facts. These are often used by the title company when putting together a title insurance policy in order to provide specific coverages to the buyer.
Contact Commercial Partners Title Company
If you need help with a commercial title transaction, you’ve come to the right place! Commercial Partners Title Company has been facilitating commercial transactions in Minnesota and across the country for decades. During our many years in the industry, we have built up a reputation for being experts in commercial title transactions. Our team can help you through the details of your next transaction and ensure you are fully prepared for the closing table. Contact us today to learn more about our services and see how we can help you through your next commercial transaction!