While both residential and commercial real estate transactions require careful planning, the latter is much more specialized than the former. Residential transactions follow standard processes such as making an offer, negotiating a price, and scheduling an inspection and appraisal. While commercial transactions include these processes, they also typically involve multiple parties instead of one buyer and seller only. The complexity of commercial transactions subsequently makes title insurance attorney services even more valuable. While title insurance is part of residential transactions, it is even more essential in commercial settings because parties are dealing with larger amounts of money.

3 Ways a Title Insurance Attorney Is Even More Beneficial For Commercial Real Estate

1. Conducts Extensive Title Search

Title insurance agents perform meticulous title searches to determine whether there are any liens, encroachments, or easements against the property. And, while these searches also apply to residential transactions, the scope of commercial transactions makes title research even more important. Commercial properties often have longer lists of previous owners or multiple owners who may have taken out numerous loans or interfered with the title’s marketability in other ways.

2. Helps Determine Specific Ownership

Because commercial real estate titles involve “chains” or collections of documents, it can be challenging to determine exact ownership. Residential title documents, in comparison, are usually one page only. Title insurance attorneys review commercial title documents to help buyers resolve ownership issues and other concerns prior to closing to ensure smooth processes.

3. Addresses Issues in Loan or Owner’s Policy

Unlike most residential real estate transactions, commercial processes require addressing various concerns in the loan or owner’s policy related to the property’s function and use. These include any survey problems; loss determination; minerals and other subsurface substances such as concrete, zoning, and other special uses; project use; and shared appreciation among other issues. Any problems that can impede the commercial property’s function must be outlined in either of these policies so buyers are covered during title searches.
 

Work with one of the talented title insurance attorneys at Looney & Chadwell Title Services, LLC in Crossville, TN, for commercial real estate transactions in Cumberland County. These committed attorneys offer decades of experience and provide comprehensive title insurance policies that surpass expectations. Call (931) 484-7129 today to schedule a consultation or send a message online.