Title insurance is a key component of commercial real estate transactions. Title insurance will minimize the risk when purchasing or selling commercial real estate even though the stakes are higher.
Title insurance is different from other policies since it protects you from a transaction which has already occurred, not something that may happen at a future date. The buyer will benefit from the policy whether there is a title defect found right away or years down the line. If there is an issue found, contact a real estate attorney to evaluate any claim you may have.
For over 100 years, title insurance has been an integral part of commercial real estate transactions by protecting real estate investor’s assets.
What is Title Insurance?
Title insurance protects the buyer of a property from issues relating to the title to the property. Since commercial real estate transactions are typically more complex and expensive, it would be foolhardy to proceed without the protections title insurance affords.
The title to a property is the buyer’s right to ownership. If there are clouds on a title, they can render the title unmarketable. When the buyer acquires real property he is entitled to marketable title, and title insurance is the means by which the buyer protects his ownership interest.
The buyer will also pay for the lender’s title insurance policy. The cost of the lender’s policy will be part of the cost of the loan.
Your title company will conduct a title search by examining all recorded documents relating to the property prior to issuing a policy. The search will look at the chain of ownership and for any liens on the property. A detailed report will be prepared before a title insurance policy is issued.
The title company may act as an escrow agent and and closing agent and will control the closing process.
Florida National Title Service
When you are purchasing or selling commercial real estate, Florida National Title will ensure there is a clear title for the property you are selling or buying. We have years of experience in the title business and make commercial real estate transactions possible by making it possible for lenders to accept the risk, buyers to purchase property from sellers they do not know, and to create a smooth closing process for everyone involved.
Expert Title Services Jupiter
Florida National Title has years of experience guiding Florida home buyers through the real estate purchase and refinance experience and have helped them solve the problems that come up in the process. We will decipher the “legalese” and explain what we need and why we need it each step of the way. The blogs to follow will address specific issues to guide buyers to understand the process better and to help them avoid many of the pitfalls. Call us at (561) 408-0729 or visit our website.
Florida National Title Services, LLC
250 S. Central Blvd., Suite 101
Jupiter, Florida 33458
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