One of the important steps of a commercial real estate transaction in Florida is ensuring that the person or business buying or building the property has what is called “clean title” to the property. In a nutshell, clean title means the one who buys the land does so without having to worry about the claims of another party, including other purported owners, holders of easements and lenders or creditors with unsatisfied liens on the property.
At the end of the day, a title problem can completely sidetrack a commercial real estate transaction. In the best cases, it can stop the transaction from going through, meaning the buyer and the seller could be left scrambling for other options. In the worst case scenario, it could mean a person buys office buildings or property for a new venture like a strip mall and ends up being unable to use it. Such an incident could cost millions of dollars and ruin a business.
Title work is a serious matter and, while a number of title and escrow offices do it, sometimes it might be better to have an experienced real estate attorney also handle the routine title work. Our office teams up with a nationwide title insurance company and has been providing title review services to our clients for years.
Because we also offer legal services involving real estate, we have the unique ability to notice when there is something actually flawed about a person’s title and can also evaluate how likely the flaw is to become a full-blown title problem. We are also able to assist Broward County residents with any legal work that might be necessary to clear up an issue with title.