Our Services
We offer a variety of high quality services to our clients.
Closing Services
Abstracting Services
Title Insurance
Commercial
Real Estate Transactions
Residential
Real Estate Transactions
Early Title Assessment
1031 Tax Deferred
Exchanges
Land Development
& Property Splits
What We Offer
Closing Services
For most of us, the real estate transaction can be an overwhelming process.
Relax…. Cygneture Title Solutions, LLC strives to be Minnesota’s most thorough real estate closing professionals. We’ve performed thousands of real estate closings for many happy clients and we are confident that we can make you happy too.
You will receive the explanations you may need so you will feel completely comfortable before signing any of the many documents. It is our goal to make you–our valued client–always feel completely in control during the entire process.
Abstracting
Abstracting is searching public records to develop and document the chain of title and to detect whether there are any adverse claims on a subject property.
An abstract is a document that describes the history of a real estate property. It contains all of the details of the property’s past activity including current and previous owners, deeds, mortgages, liens, judgments, tax records, financing statements, encumbrances, easements, pending assessments, etc.
A Torrens Certificate of Title is also a document that describes a real estate property. The difference is on a Torrens Certificate of Title , only the most current details are included. All mortgages, liens, judgments, etc. that have been released are removed from the certificate. Only relevant and open items remain on the Torrens Certificate of Title.
Owners and Encumbrances Report lets the customer know who owns the property and what encumbers it. Cygneture Title Solutions, LLC can deliver most O & E Reports within 48 hrs.
Title Insurance
A Title Insurance policy is a contract of indemnity between the insurance company and the owner of an interest in real property.
Typically the real property interests insured are fee simple ownership or a mortgage. However, title insurance can be purchased to insure any interest in real property including easements, leases, and life estates.
Title Insurance is different than most other types of insurance. Where most insurance is the contractual “coverage” where one party indemnifies or guarantees another party against a possible specific type of loss (such as an accident or death) at a future date, title insurance attempts to detect, prevent, and eliminate risks and losses caused by title problems which have their source in past events. Title companies attempt to achieve this by searching public records to develop and document the chain of title and to detect whether there are any adverse claims on the subject property. Any issues found are either fixed before issuing the policy or the coverage is specifically written to exclude those items.
Just as lenders require hazard insurance and other types of insurance coverage to protect their investment, most lien lenders will also require title insurance as security for their investment in real estate.
There are two basic kinds of title insurance:
Owner’s Policy: The owner’s policy insures a purchaser that the title to the property is free from defects or encumbrances, except any listed as exceptions in the policy. It covers losses and damages suffered if the title is unmarketable (i.e., if the title can not be legally sold and conveyed to another party), if the property is found to belong to someone else, if there is no access to the land, or if there is some defect or lien on the title. An owner’s policy will specifically list what is covered as of what effective date. The policy will also contain various standard exclusions to coverage and also specific exceptions to title that the title company is unwilling to insure. Title insurance coverage lasts as long as the insured retains an interest in the land and typically no additional premium is paid after the policy is issued.
Lender’s Policy: In addition to the coverage provided on the owner’s policy, this type of policy also insures the validity and enforceability of the lien of the lender’s mortgage or deed of trust. The lender’s policy protects the lender for the amount of their loan.