Steve Francis is a Director at GRS | Title
(804) 486-9465
[email protected]
Do you think it can be difficult to coordinate commercial real estate title services on single-site shopping center or apartment complex?
Well, imagine dealing with managing a process to deliver title services, including mineral or mining rights coverage, for a transaction on 100+ separate sites — quickly. Welcome to the world of multi-site mineral rights coverage focused real estate transactions.
GRS | Title did this last year for a transaction in Virginia.
This type of title services process, similar to timber deals, can be complicated. For one thing, some of these titles are very old, to say the least. Many mineral grants and reservations happened before 1900, and some even before 1800. Because of this all major underwriters require us to search the title in colonial states back to what is known as the “King’s Grant”, meaning that the King of England originally granted the title for a parcel of land, long before the Revolutionary War. We cannot always find a King’s Grant but we still have to trace the chain of title back as far as we can in the county records.
Fortunately for GRS | Title, and its managed network, single site, single state or multi-site, multi-state does not deter meeting deadlines. But through our professional network, we are able to make a transaction like this happen. In this particular case, we had limited time to complete the job and were able to make it happen. And that’s not unusual. We typically deliver deals early or on time.
So the next time getting title work done on a one-site development seems frustrating, imagine having to deal with hundreds of titles in several states.
But if you find yourself in a situation in need of titles needing title insurance (including or not including mineral rights ) scattered all over the place, our team of professionals, with over 100 years of experience combined in the field, is here to help.