Commercial properties present their own special set of legal pitfalls and complex dynamics for title agencies. Considerations such as tenant leases, EPA restrictions, etc. can, and often do, come into play and must be dealt with and resolved promptly, knowledgeably and, above all, with precise care and professionalism.
We’ve helped insure some of the largest commercial projects in the Mahoning Valley – projects that involve thousands of man-hours, multiple parcels of real estate, and several different law firms. From builders and developers to the lenders who help make big things happen, we help you grow and succeed by working with you to untangle the nastiest issues time and again.
Our commercial title services include:
- Title insurance, including Lender, Owner, and Title Guarantee policies
- Transfer of title information/requirements
- Escrow and closing
- Construction disbursing
- Special projects
- 1031 property exchanges
- UCC Insurance
- Land trusts
Commonwealth Suburban offers three distinct types of commercial title insurance policies:
The lender is typically required to have this type of policy to protect its own financial interests and legal defense costs, as well as reimburse any remaining mortgage payments you can’t make because you’ve lost the property over someone else’s claim. Lenders typically require buyers to cover the cost of this policy.
An Owner’s Title Insurance (OTI) policy ensures that you are protected from any defects in the title that existed prior to purchasing your policy, such as liens, fraudulent signatures, improperly settled estates, or other encumbrances to the title.
A title guarantee protects the purchaser only from matters discovered on the examination of the record title, whereas, a title insurance policy insures certain defects that do not appear in the record examination.