Having someone bring a title claim on your commercial property can be scary and confusing. In this article, we are going to offer up a few tips for resolving a title claim on your commercial property.
Contact Your Title Company
If you have received a notice that someone is bringing a claim on the ownership of your property, the first thing you should do is contact your title company. Your owner’s policy of title insurance should protect you against such claims brought on your property and your title company should cover all the associated legal fees of defending your ownership in the property.
Send a Formal Letter
Draft a letter to your title insurance company at the address found on the back of your policy jacket. In this letter, you should describe the details of the claim being brought against your property. Be sure to include any backup documentation that may be helpful. You should also send this letter via certified mail so you get a confirmation of delivery.
Await the Investigative Process
Upon receiving your letter, your title company will begin the process of investigating this claim. The investigation typically includes reviewing a host of documents and contacting the title agent who issued the policy. Your title company will reach out to you after completing the investigation with the results.
Title Insurance Company in Minneapolis, MN
Commercial Partners Title Company has been helping clients through the ins and outs of their commercial transactions for decades. We are recognized across the United States as experts in commercial title insurance. With that level of experience, you can rest assured that your transaction is in good hands. If you need title insurance for your next commercial transaction, contact the team at Commercial Partners Title. Reach out to our commercial title experts today at our downtown Minneapolis office for help with your next commercial transaction.