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Commercial Partners Title, LLC is dedicated to providing unparalleled customer service, commercial title insurance solutions, and creating great relationships. It is vital that we continue to find ways to execute on these promises to our clients; and with the advancement of social media, we believe we can take our values and ideals to a new level.

Please take some time to revisit our website and take advantage of our social media presence.

I hope you find our blog to be informational and educational. We want to continue to be your Experts in commercial title insurance.

I welcome your feedback.

Cordially, Mark

May 16, 2022 by Mark Goodman

What is the ALTA Truth in Lending Endorsement?

ALTA endorsements are used in most, if not all, commercial title insurance policies. But there are so many different endorsements that it can be difficult to keep them all straight. In this article, we are going to explain the ALTA Truth in Lending Endorsement and discuss when it can be used when underwriting title insurance.

ALTA Truth in Lending Endorsement

This endorsement insures the insured lender against the effect of the termination of the lien by reason of the valid exercise of the right of rescission. The right of rescission may apply if (1) the lien is a security interest in the borrower’s principal dwelling and (2) the loan is not a purchase money mortgage, and (3) the borrower is a natural person. NOTE: This endorsement only applies to a residential property.

Experts in Commercial Transactions

At Commercial Partners Title Company, we are recognized as experts in commercial transactions both in Minnesota and across the United States. Our team is ready and waiting to help you through the process and make sure you are fully prepared for the closing table. Contact us today to learn more about how we can help you through the ins and outs of your next commercial transaction. You can find us at our primary offices located in the heart of downtown Minneapolis.

May 12, 2022 by Mark Goodman

A Template of the ALTA Contiguity Endorsement for Single Parcels

There are many ALTA endorsements that may be utilized when underwriting title insurance. In this article, we are going to offer a template for the ALTA Contiguity Endorsement for Single Parcels.

CONTIGUITY-SINGLE PARCEL (ALTA 19.1-06) (Adopted 6/17/2006)

The Company insures against loss or damage sustained by the Insured by reason of:

the failure of the Land to be contiguous to [describe the land that is contiguous to the Land by its legal description or by reference to a recorded instrument – e.g. “. . . that certain parcel of real property legally described in the deed recorded as Instrument No. , records of County, State of _______ ] along the ______ boundary line[s]; or
the presence of any gaps, strips, or gores separating the contiguous boundary lines described above.

This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements.

Contact Commercial Partners Title Company

Contact Commercial Partners Title Company today to see how we can help you with your next commercial title transaction. Over the past several decades, we have built up a reputation for being the experts in commercial title transactions. Let us put our experience to work for you on your next transaction. Our team consists of title closers, escrow agents, underwriters, and more! We are here to help you through all the details of your transaction. Reach out to us at our downtown Minneapolis offices to learn more!

May 10, 2022 by Mark Goodman

What is the ALTA Tax Parcel Endorsement?

In commercial title insurance, there are a wide variety of ALTA endorsements that can be used to modify a policy of title insurance. In this article, we are going to discuss the ALTA tax parcel endorsement and explain when it can be effectively utilized in a commercial title insurance policy.

Tax Parcel Endorsements

This endorsement insures the insured owner or lender against loss if the land is taxed as part of a larger parcel or fails to constitute a separate tax parcel. The 18.1 additionally identifies the specific Tax Identification Numbers that relate to each identified parcel, that the parcels are not taxed with any other land, or that the easements, if any, described in Schedule A can be cut off by non-payment of real estate taxes or assessments against the servient estate. An alternative endorsement is available for situations that arise when a separate tax parcel will be available in a subsequent tax year. For example when a plat is filed or a tax parcel is split.

Title Insurance Specialists in Minnesota

If you are searching for a title insurance specialist to partner with on your next commercial real estate transaction, you’ve come to the right place! The experts at Commercial Partners Title Company have been facilitating commercial title transactions for decades. Our team of escrow agents, title closers, and underwriters is recognized across the country as experts in the commercial title industry. Contact us today to learn more about our services and see how we can help with your next commercial transaction!

May 9, 2022 by Mark Goodman

What Signatures are Needed to Create a Plat?

One of the most important steps in creating a plat is getting the required signatures. If done incorrectly, this step in the process can derail the timely creation of a plat. In this article, we are going to discuss what you need to know about plat signatures.

Getting the Correct Signatures

After a plat is finalized, it’s time to collect the necessary signatures and notarizations. Here is a list of the parties that will potentially need to sign the plat (depending on what jurisdiction you’re in):

All landowners involved in the plat (whether individuals or corporate entities. If there are two married landowners, both spouses will need to sign.
The board of the city council.
The city attorney.
The county surveyor.
The surveyor creating the plat.
The county auditor or treasurer.
The county recorder or registrar of deeds.

This is a list of the parties that may potentially need to sign. It is by no means exhaustive and the particular requirements will vary based on the specifics of the plat in question.

Differences Between Jurisdictions

It’s important to remember that there are some differences between jurisdictions when it comes to plats. Make sure to check for the requirements in your jurisdiction before creating a plat and submitting it for approval.

Commercial Partners Title Company – The Experts in Commercial Transactions

At Commercial Partners Title Company, we have built up a reputation over the last several decades as being the experts in commercial title transactions. Let our team of escrow agents, title closers, and underwriters manage all aspects of your next transaction so you are fully prepared for the closing table. Reach out to our experts today at our Minneapolis office to learn more about the commercial title process and how we can help facilitate your next transaction.