What is the role of a title agency in a commercial real estate transaction?

A title agency plays a critical role in commercial real estate transactions in North Carolina. A title agency works with the parties involved in the transaction to ensure that there are no existing liens, judgments, or encumbrances on the property. The title agency will review the Public Record to determine the legal ownership of the property. If the review reveals a clear title with no encumbrances, the title agency will issue a title commitment. This document serves as a guarantee that the title is free and clear for transfer. The title agency may also be responsible for conducting a title search to ensure that the title is indeed free and clear. This search involves an examination of the recorded documents related to the property in order to identify any liens, judgments, or encumbrances that may be attached to the property. The title agency will then work to clear the title so the transfer of ownership can take place. The title agency may also provide assistance in the process of closing the commercial real estate transaction. This assistance may include the preparation of closing documents and the disbursement of funds to the parties involved in the transaction. The role of the title agency in a commercial real estate transaction is essential to ensuring that the title is free and clear for transfer, and that all funds are properly disbursed at the closing of the transaction.

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What is the role of a title agency in a commercial real estate transaction?

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