Each state has its own regional colloquialisms when it comes to writing title insurance. It's important that your title company has experience facilitating transactions in your state and understands the local customs. In the following paragraphs, we are going to discuss some items to bear in mind when underwriting title insurance in North Dakota. Specifically, we're going to go over mineral rights and construction mortgages because they relate to title insurance in North Dakota.
When writing title insurance within the Minneapolis / St. Paul area, we don't typically encounter any mineral rights issues. However, we do run into those issues quite often when writing title in some areas of North Dakota. This really is due to the somewhat recent gas and oil boom in western North Dakota. It's important to pay specific attention to mineral rights issues when writing title in this area.
Construction mortgages will also be handled differently in North Dakota (compared to Minnesota). Essentially, you don't have to worry much about construction mortgages in North Dakota. This really is simply because construction mortgages offer us priority over potential mechanics liens in most cases.
Experts in Commercial Transactions
The team at Commercial Partners Title is ready and able to help you thru all the details of the transaction. Our escrow agents, title closers, and underwriters can ensure that you're fully prepared when it comes time to close on your new property. Reach to our experts today to set up a time to chat about your next commercial transaction. Our primary office is situated in the US Bank building in downtown Minneapolis. We also work with clients across america.