Commercial Real Estate
Commercial real estate transactions are often complex and time consuming. In order to complete a smooth transaction many entities must work together. Our Minnesota Title Company and Agents can help coordinate your title work making the transaction simpler and less stressful. In addition to coordination, we also offer services involving escrow, title information, and much more.
The added complexities of a commercial closing require the knowledge and experience to adapt to ever-changing circumstances. Our commercial service professionals assist land developers, attorneys, commercial loan officers and others to underwrite all types of complex commercial real estate transactions.
Services, in addition to those listed in Residential Mortgage Closings, include:
- Reviewing of special purchase agreements
- ALTA surveys
- Zoning issues
- UCC-1 filings
- Security agreements
- Agricultural land regulations
- Other legal requirements
Closings for our commercial department have included industrial facilities, office and apartment buildings, resorts, outfitters, motels, and subdivisions.
What is Commercial Title Insurance?
Title insurance helps protect the property owner and lenders from losses related to the property’s title or ownership. Title insurance protects the owner for the duration of their ownership and covers losses up to the maximum set by the insurance. Title insurance is often paid through a one-time fee or premium.
Commercial title insurance can protect the owner from:
- Unknown Title Defects (Issues preventing the owner from clear ownership)
- Existing Liens on the Property (Unpaid debts by the previous owner)
- Encroachment Issues
- Title Frauds
- Errors in Surveys or Public Records
- Other Issues That May Affect the Owners Ability, To Sell, Lease, or Mortgage the Property
Types of commercial title insurance
An owner’s policy protects the owner of the property from title related losses for the duration of ownership, maximum coverage amounts are set by the insurance
A lender’s policy protects the lender from issues regarding invalid or unenforceable mortgages, maximum coverage amounts are set by the amount of the property’s mortgage
Commercial title insurance can be used for:
- Office Buildings
- Industrial Buildings
- Shopping Centers
- Apartment Buildings
- Rental Units
- Vacant Commercial Land
- Leased Commercial Properties