When handling a transaction where the buyer or seller are considered a corporation or the property being transferred is considered commercial, please remember the following:
• A corporation name is required to contain the words “corporation,” “company,” “incorporated,” or “limited” or end with an abbreviation of one of those words.
• The title company will normally require a copy of the Articles of Incorporation prior to closing.
• The corporation needs to be in “Good Standing” with the Secretary of States office.
• A corporate resolution will also be required by the title company, pertinent to that particular transaction.
• Any properties deemed to be commercial will require a survey in order to give survey coverage.
• Commercial properties may have specific zoning issues and may require special endorsements to the title insurance policy.
Any questions regarding commercial transactions can be directed to Security Title. Please feel free to call:
Jack Forsythe
Legal Counsel
(314) 442-6965
“Secure Your Investment With Security Title”
