As part of our ongoing efforts to bring you a full-service platform, we continue to roll out new and improved features. Our latest offering makes it easier for you to complete your client’s leasehold purchase in Ontario online.
Log on to mytitleplus.ca, choose leasehold as a property type, enter the details and hit submit. The application will be promptly reviewed by Underwriting Counsel.
Your clients will have peace of mind with the same coverage as a regular purchase policy, subject to the terms and conditions of the lease.
The coverage includes:
- Someone else owning an interest in the property
- Liens and charges on the property
- Arrears of realty taxes and public utility charges
- Fraud and forgery before and after closing
- Unmarketability due to defects that would have been disclosed by an up-to-date survey
- Work orders, open building permits and work done without a permitli>
- Breach of a zoning by-law
- Lack of legal access to the property
- Breaches of restrictive covenants
- Encroachments onto the property built after closing
- Gap coverage
- Legal Services: Standard, automatic coverage for lawyer’s errors and omissions in providing legal services for the transaction
If you have any questions or would like a copy of the Leasehold Endorsement, please reach out to customer service at [email protected], 1-800-410-1013 or 416-598-5899
