Lenders

Our policies for mortgage lenders offer coverage for unforeseen problems with title, surveys, zoning issues and more, even if they are not discovered until years after the transaction is completed.

Commercial title insurance coverage for lenders includes:

  • Not having a valid mortgage in the specified priority
  • Failure to register a required document for the transaction
  • Construction liens contracted for and commenced after the policy date not funded in whole or in part by the proceeds of the mortgage
  • Forgery
  • Restrictions on title which allows the mortgage to be divested, a lien for liquidated damages, or a private mortgage or assessment
  • Breaches of a restrictive covenant
  • Encroachments or easements onto an adjoining property
  • Breaches of the applicable zoning by-law
  • Not having the municipal address as described in the policy
  • The lawyer failing to advise the mortgage lender that the transaction does not comply with legality of interest rate; and invalid, unenforceable or lack of priority of the mortgage
  • Changes in the rate of interest or addition of unpaid interest to the principal balance of the loan
  • The unenforceability of the mortgage or guarantee contained in the mortgage
  • Someone else having a right of approval over a future purchaser or occupant

Please refer to the policy for full details, including actual terms and conditions