Commercial Title Insurance
Purchasing commercial property requires significantly more paperwork, legal hurdles, and money than when buying a single-family home. Construction and renovations are typical, and often property ownership is split resulting in multiple players involved in a standard transaction. Add zoning laws, building codes, and other legal requirements to that, and you have a complex purchase that requires an experienced commercial real estate team on your side.
That’s where Sentinel Title & Trust comes in. Our title agents understand the nuances of commercial real estate and know how to make your transaction as smooth as possible. We can help you identify potential defects in a new property title and help insure you against any losses that may come from unforeseen challenges in the future.
What is Commercial Title Insurance?
Similar to title insurance for a single-family home, commercial title insurance protects the buyer from any losses caused by defects in the property title. This can include unpaid property taxes under the previous owner, liens, challenges to your ownership rights, and more. Title insurance for commercial properties can also cover losses stemming from zoning and encroachment conflicts.
We Provide Title Insurance for the Following Types of Properties:
- New Construction
- Multi-family housing
- Retail property
- Office spaces
- Hotels and restaurants
- Recreational facilities
- Other commercial properties not listed above
How Does Commercial Title Insurance Work?
Once you are ready to make a deposit, a title agent will conduct a title search and review public records for any potential problems, or “clouds,” associated with the title. This includes reviewing tax records, mortgages, wills, court documents, and more. Specifically, the title agent will look for unpaid taxes, liens, easements, other claims to ownership, inaccuracies or forgery of legal documents, and more.
If there are no apparent defects in the title, a title agent will then create your title insurance policy. Your commercial title insurance policy will protect you from any unforeseen challenges to your ownership and the financial losses that may result. This includes future zoning and encroachment issues, but it also includes liens, forged title documents, claims to partial or full ownership, and other hidden defects that may not have been discovered in the initial title search.
How Does Commercial Title Insurance Help Me?
Though your title agent will be able to catch most problems associated with a commercial property title during the initial title search, problems may still arise after you purchase a property. If your ownership rights are challenged, your title insurance policy will help cover any legal fees you pay in order to defend yourself. If your challenges are unsuccessful, title insurance will cover any financial losses you suffer as a result, such as unpaid taxes and debts you inherit, losses in property value, and more. Most importantly, in the event that you lose the property entirely, commercial title insurance helps protect your financial investment.
Benefits of Commercial Title Insurance
The Sentinel Advantage
Sentinel Title and Trust gives you the confidence you need when investing in a new property. Our team of title agents and real estate lawyers can help you spot issues with a property before they become a problem. And when unforeseen problems arise after you have already closed, we’re there to help you minimize your losses and rebound as quickly as possible.
Your property is one of your greatest financial investments. Protect it with help from Sentinel Title & Trust.