Title insurance may seem like a luxury for your commercial property, but it really isn’t. Commercial properties need title insurance in the same way that they need roofs; they’re essential. Today we’re going to be talking about why your commercial property needs title insurance and how having it or not having it could affect you down the line. Are you ready to learn more? Well, let’s get started!
The Role of Title Insurance for a Commercial Property
Insurance is often purchased to protect you against something that may happen down the line, but title insurance is going to protect you against something that may have already happened. Some commercial properties change hands quite a bit, and some business owners may not have been entirely thorough with their paperwork. In the event that someone challenges your ownership of the property, you will need to file a claim with your insurance provider. Depending on your policy, we would then dispute the claim and defend you, this defending your business and, by extension, your livelihood. When a lawyer gets involved to evaluate the claim, it would be helpful to have title insurance already in place.
Commercial Property Title Insurance is Wise
Title insurance is often required in commercial property transactions and rightly so. There could have been any number of mistakes in your property’s past that could lead to claim disputes down the line. It’s better to arm yourself now so that you won’t experience any bumps down the line. A commercial property will most likely be housing your livelihood, and any way you can protect that is a wise investment. If you have detailed questions about the process of obtaining and using the proper insurance for your commercial property, then please contact us using the information below,
Get In Touch With Residential Title and Escrow Today
At Residential Title & Escrow and Commercial Settlement Services, we bring peace of mind to the settlement table. If you are searching for a title company to help you through the closing process, please contact us today! You can also fill out our simple online title request form and one of our knowledgeable representatives will get in touch with you promptly. Be sure to follow us on Facebook,Twitter, Pinterest, andGoogle+ to stay up to date on news, and upcoming events as well as staff and client spotlights!