Like many transactions, commercial real estate purchases are not always a straightforward proposition. Commercial property ownership is determined by the entire collection (or “chain”) of title documents. Because of this, it’s not always an easy process to determine exactly who owns an interest in the property, so it’s a good idea to consider purchasing title insurance — should the purchase become…complicated.
When purchasing the title policy, it is essential to demand competence. If the title company can’t satisfactorily answer your questions, consider retaining a local real estate attorney familiar with the ins and outs of commercial property transactions in Colorado.
– Joe Stengel, Evans Case, LLP