Title Insurance

A Few Items to Know About Private Charges / Assessments

Private charges (or private assessments) occur when a party places a lien against a piece of land in order to recoup expenses. These charges can have an enormous impact on the commercial real estate transaction, so it is important to have a passing understanding of them. In this article, we will discuss a few things you need to know about private charges / assessments when dealing with commercial real estate.

Private Charges Relate to a lot of Items

Private charges can relate to a variety of different factors, including:

  • Utility payments made on behalf of the owner
  • Maintenance charges
  • Association assessments
  • And more

Private Charges Can Arise in Many Places

Private charges can arise inside a number of different places during a commercial real estate transaction. They can be established in recorded instruments for example: deeds, mortgages, leases, development agreements, or declarations. The most common example when dealing with commercial property may be the right of prior approval of a future purchase or occupant – which may be used to keep direct competitors away.

Commercial Title Services

If you're trying to find commercial title services for the next real estate transaction, look no further than Commercial Partners Title. We have decades of experience facilitating commercial transactions of all shapes and sizes for the clients. We bring our commitment to customer service to each and every transaction and can help guide you thru the entire process. Reach to our experts today to understand more about the help we provide and how we are able to help you with your transaction. Our office is situated in downtown Minneapolis but we work with clients through the country!

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