How To Find A Cannabis Title Insurance Company Near You

December 16, 2021

How To Close On Cannabis Real Estate

Buying cannabis real estate is on an upward trend with the legalization of the product in many U.S. states. It can be very challenging to find a property that qualifies for use as a marijuana facility, and if you have found a property, more than likely you have used the services of a marijuana real estate firm like Bricks + Mortar Cannabis. So, you found the diamond in the rough, and now you need a title insurance company that will work in the cannabis industry to issue a policy and close the deal. Until now, many people that purchase real estate for a marijuana facility have had to forgo title insurance in order to get the deal closed. Understandably, this is not ideal. Buyers want to have the confidence that commercial real estate title insurance offers.  Title insurance policy coverage can protect against many future claims from unknown items. Using a title company to close your commercial real estate transaction can help to provide confidence that the seller actually owns the property and can transfer it to you free and clear. Some potential risks can include for example; improperly recorded documents, another person or entity claiming an ownership interest, liens, fraud, forgery, etc.  Fighting these things without a title insurance policy on your cannabis property can be costly and time consuming. The question is; "Can I even get title insurance for a cannabis related transaction?" The short answer is typically yes. The long answer is, it can be difficult to find.

Finding Cannabis Title Insurance

When buying cannabis real estate or property for a marijuana business, you can't just call any title agency and order a policy. Laws between federal and state are still conflicting. Consequently, most title insurance agencies will not issue a cannabis title insurance policy. That does not mean you are not able to get marijuana title protection. It means, let the search begin! Commercial real estate title insurance agencies are everywhere. Is there a cannabis title insurance company near me? Regrettably, the answer is, most likely not. Cannabis title insurance companies in Michigan and across the country are rare, but we do exist. There are a few of us leading the way in this growing market.  However, with remote closings, it is possible to use a title agency that is not local. Many cannabis title insurance companies are able to mail or email necessary documents. This makes transferring title from one party to the other less stressful. Looking for a marijuana title agent? Look no further! We would be happy to help you with all of your cannabis title protection needs. Please note there are some state limitations. We also offer a cannabis escrow service nationwide.  We look forward to assisting you!

Cannabis Title Search

Unable to locate a cannabis title insurance company in your state? As a last resort, you have the option to order a title search product. A title search product does not offer any protection against future claims. However, it does provide quite a bit of useful information, including the names of property owner(s) in public record, copies of deeds and possible deed restrictions, recorded liens, and other relevant information. The information from the search is imperative. First, the search will assure that the entity you are purchasing the property from is authorized to sell it. In addition, the title search shows any liens that need to be cleared prior to closing. Pay close attention to any deed or land restrictions. These restrictions could prevent you from using the property for the cannabis industry.  It is also possible to do your own search. This search is through the Register of Deeds office in the county the property is located. You may have to pay a small fee. While it is legal do to your own search, experts do not suggest it. This is due to the complexity of the search. Important items could be missed. Thus, having a cannabis title insurance company complete the search is best. If you have any questions please let us know. You can also click here for our FAQ's.

How To Find A Cannabis Title Insurance Company Near You