When engaging in commercial real estate transactions, it is of utmost importance to partner with a professional insurance title company that will protect your ownership rights and guide you through the complicated legal procedures seamlessly. If you plan on investing in commercial real estate in Delaware, MylesTitle is your trustworthy partner for comprehensive and reliable commercial title insurance assistance. Our wide range of services include thorough title searches, meticulous examination of property records, identification and addressing potential title issues, providing insurance policies, stellar customer relations, and much more. If you plan on investing in high-value commercial property in Delaware and need help obtaining title insurance, book your consultation today!
MylesTitle is a boutique title agency with long history and wealth of experience in commercial closings, ensuring that your investment is protected, and your ownership interests safeguarded with utmost care and attention. We handle property acquisition, refinancing, development projects, and even the most complex commercial and multi-state transactions. Our wide network of loyal clientele includes investors, developers, brokers, banks, and other businesses and individuals involved in high-value commercial title transactions.
Partnering with MylesTitle means experiencing the unrivaled level of professionalism and highly personalized attention which sets us apart for other title insurance companies in Delaware. Since 1979, Myles Lichtenberg, Esq., the founder and real estate attorney, has been recognized as a regional leader in providing commercial title insurance services. Mr. Lichtenberg and his team have successfully closed more than 27,000 transactions including sales, construction contracts, and liens releases. Our portfolio includes over $16 billion in settled transactions and hundreds of satisfied clients. Reach our agents on 410-458-8975 and discover how we can protect your investment.
The Comparison of Commercial and Residential Title Insurance
Both commercial and residential insurance have the same goal: to protect real estate owners and lenders against potential risks and defects in the title. However, there are several important differences between them.
Property Usage
Residential properties are used mainly for accommodation purposes like family homes and condominiums, while commercial properties are used for business or investment purposes, such as office buildings, industrial complexes, or retail properties.
The Complexity of Transaction
Commercial transactions are more complicated due to numerous parties’ involvement, sophisticated financing arrangements, and special requirements such as zoning and environmental issues. Commercial title insurance demands a more comprehensive and specialized approach.
Chain of Title
Commonly, commercial properties have a longer chain of title with more ownership changes, legal disputes, and difficult encumbrances. A properly performed title search for commercial properties calls for in-depth examination and analysis of property records, including deeds, liens, easements.
Coverage Limits
Commercial title insurance policies have higher coverage limits and involve larger investments, higher property values, and greater financial risks. Hence, wider coverage is needed to protect the interests of property owners and lenders.
Endorsements
Commercial title insurance policies include specific endorsements such as zoning, parking, access, parking, and survey-related matters. On the other hand, residential policies focus more on standard coverage without customization.
Policy Cost
Commercial title insurance premiums are higher than residential as they involve higher property values, larger potential liabilities, and more complex procedures overall.
Legal Expertise
Commercial transactions also imply legal negotiations, numerous contract drafts and reviews, and sophisticated financing arrangements. As a result, it is advisable to seek help from title agents with experience to ensure regulations compliance and protect the parties involved.
It’s important to note that these are general differences, and each transaction is unique. It is vital to consult with a qualified underwriter to understand the specific needs and variations of commercial and residential transactions.
What Does MylesTitle Do for You?
MylesTitle specializes in navigating the intricate world of insurance, ensuring that your investment is protected and your interests are safeguarded. Professional title underwriters perform in-depth title searches, meticulously analyzing records to spot issues or discrepancies which may pose risks to ownership rights. We have the skills to resolve even the most complex title problems, providing you with a clear title. Furthermore, we have access to substantial resources, allowing us to identify undisclosed liens, encumbrances, or legal claims that may influence the property’s value or your potential to transfer ownership.
By hiring us, you can have peace of mind, knowing your transaction is handled with the utmost diligence, legal compliance, and accuracy.
Full Range of Commercial Title Services in Delaware
Working with MylesTitle offers a lot of great things – we give top-notch advice, help you understand how title insurance works, and take care of all your needs under one roof. Our comprehensive services include:
- Title and lien searches
- Issuance of title policy
- Commitments, endorsements, exceptions
- UCC Searches, UCC Insurance
- Mitigation and liens resolution
- Commercial lease analysis
- Entity Searches and Good Standing Certificates
- Litigation Searches
- Lender-assisted asset transfers
- Conveyance documentation
- Examining property’s title
- Delaware and federal judgment searches
- Boundary, location, and ALTA/ASCM surveys
- LLC and Corporate Searches
- Multi-site and multi-state acquisition/dispositions
- Closing Statement Preparation
- Keeping escrow in trust account
- Deeds, deeds of trust, release of liens, mortgages
- Easement, loan, and incumbency agreements
- Acquiring zoning certificates
- Environmental assessment
- IRS 1031 exchange services
- Construction loan policies
- Settlement statements review prior to closing
- Coordination of closing services with all parties
- Title holding assistance
- Legal instruments recordation
- Handling and disbursements of funding
- Refinancing commercial properties
MylesTitle Partner Network in Delaware
Over the years, MylesTitle collaborated with all parties involved in commercial closing transactions. We strive to nurture strong and long-lasting partnerships for increased integration of services.
Our loyal clients include:
- Real estate law attorneys
- Appraisers
- Banks and credit unions
- Real estate brokers
- Buyers, sellers
- Mortgage brokers and lenders
- Insurance companies
- Underwriters
- Pension funds
- Inspectors, surveyors
- Developers and builders
- Even Other title companies
- Financing clients
Commercial Real Estate (CRE) Property Types for Closing Transactions
Commercial real estate properties and buildings generate profits from capital gains or rent income. MylesTitle’s unique work ethics boosts results in closing transactions of the following commercial property types:
- Multi-family properties
- Retail real estate (shops, strip malls, outlets, power centers)
- Office and apartment buildings
- Hotel & hospitality (hotels, motels, B&Bs, and inns)
- Restaurants & Bars
- Light assembly (showrooms)
- Mixed-use (nursing homes, stadiums, healthcare)
- Special purpose properties (data centers, schools, research centers)
- Industrial buildings
- Self-storage centers
- Vacant Land (agricultural, urban plots)
- Heavy manufacturing industrial
- Car Dealerships
- Warehouses
- And others
MylesTitle Distinctive Highlights
- $16B+ in settled transactions
- Boutique title agency since 1979
- Nationwide presence – 50 states
- 100% client-focused
- 7 underwriters
- “Hands on” personalized service
- TIPIC system for enhanced client experience
- Discretion guaranteed
- Hispanic translators
- Relevant licenses, memberships, and notable affiliations
- Internet and online transaction services
Proudly Serving Throughout Delaware
MylesTitle real estate attorneys and underwriters offer commercial real estate title services in the entire State of Delaware: Kent County, New Castle County, and Sussex.
Free Consultation With the Leading Delaware Title Insurance Agency
Closing a commercial transaction is a highly complex process that demands meticulous attention to detail and comprehensive knowledge of intricate legal and financial aspects. Considering the sophisticated nature of commercial closings, it is important to utilize the services of experienced professionals like MylesTitle, who specialize in commercial titles. We have the knowledge and resources needed to navigate the complexities of closing procedures with confidence while minimizing risks and maximizing the protection of your investment. Call us at 410-458-8975. Email us at myles@mylestitle.com or fill out the form for a free initial consultation.
FAQ
What is Delaware General Warranty Deed?
Delaware General Warranty Deed, a warranty of title, is an alternative to title insurance in Delaware. It is a legal document that states that ownership can be transferred from seller to buyer. However, bearing in mind the high stakes involved, it is still strongly recommended to conduct a thorough title search and eventually purchase title insurance for maximum safety and protection of your investment.
What is the Cost of Title Insurance Closing in Delaware?
The final closing cost depends on numerous factors like location, type of loan, or terms of contract. The closing transaction amount includes services, fees, dues, taxes, and other expenses to be paid by entities involved in purchasing the commercial property. They are due to be paid upon documentation signing and title transfer. Reach our title agents for consultation and a quote.
Is Commercial Title Insurance Required by Law in Delaware?
In Delaware, commercial title insurance is not mandatory, however, to conduct closing successfully, you must use the services of licensed real estate attorneys.
Do I have to Hire an Attorney for Commercial Real Estate Settlements in Delaware?
In Delaware, the physical presence of a licensed attorney is required at settlement closings. Legal requirements of real estate closing can be quite difficult to understand without legal or real estate knowledge. Speak with our real estate attorneys about your exact needs.
Disclaimer: This article is intended to serve as a general guide. You should consult with Delaware-based real estate attorney or a title insurance professional for advice tailored to your specific situation.