How Do I Find Out Who Owns a Commercial Property?
Finding out who owns a commercial property might seem daunting, but it's entirely achievable using several readily available resources. The process varies slightly depending on your location, but the core principles remain the same. This guide will walk you through effective methods, answering common questions along the way.
Understanding Property Records: The Foundation of Your Search
Most jurisdictions maintain public records detailing property ownership. These records, often called property tax records or assessment records, are the cornerstone of your search. They typically include the owner's name, address, and a legal description of the property.
1. Online Property Tax Assessors' Websites:
This is usually the quickest and easiest method. Most county or municipal governments have websites where you can search for property records using the property address or a parcel identification number (PIN) – a unique identifier assigned to each property. Simply navigate to your county or city's tax assessor's office website and look for a property search function. These websites often offer detailed information, including ownership history.
2. County Clerk's Office or Recorder's Office:
If you can't find the information online, or if you need more detailed records, you can visit the county clerk's or recorder's office in person. These offices maintain physical records of property ownership and other legal documents related to the property. Be prepared to potentially pay a small fee for copies of documents.
3. Commercial Real Estate Databases:
Several commercial real estate databases, such as CoStar, LoopNet, and CommercialCafe, provide comprehensive information about commercial properties, often including the owner's name. However, access to these databases usually requires a paid subscription. They are valuable tools if you need detailed information about a large number of properties.
4. Title Companies:
Title companies are involved in real estate transactions and maintain records of property ownership. They are a more expensive option but could be helpful if other methods are unsuccessful. While they may not provide information directly to the public, they could be a resource if you're involved in a larger real estate transaction.
How Long Does It Take to Find Out Who Owns a Commercial Property?
The time it takes varies. Online searches via the assessor's website are typically very quick, taking only a few minutes. Visiting a county office or waiting for a response from a title company might take longer. Commercial real estate databases allow for faster searching across numerous properties.
What Information Can I Expect to Find?
Beyond the owner's name and address, you might find:
- Legal Description of the Property: This precise description defines the property's boundaries.
- Parcel Identification Number (PIN): A unique identifier for the property.
- Property Assessment Value: The estimated value of the property for tax purposes.
- Tax Records: Information about property taxes paid.
- Ownership History: A record of previous owners.
- Mortgages or Liens: Information about any outstanding loans or claims against the property.
What if the Property Owner's Information is Not Public?
In some rare cases, ownership information might be shielded from public view, for example, through the use of limited liability companies (LLCs) or trusts. However, even in such cases, you might still find some identifying information by tracing the ownership through the LLC or trust.
Finding out who owns a commercial property is generally straightforward, using readily available online resources as a first step. If you need more detailed or comprehensive information, consider using other methods such as visiting the county clerk's office or utilizing commercial real estate databases. Remember to always respect privacy regulations and use the information obtained responsibly.
