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Purchasing a home is a significant investment for your client and it can also be an intimidating and expensive process. Obtaining a title insurance policy from Stewart Title not only reduces closing costs, but more importantly, brings peace of mind to your client during and after the closing process.

Save your clients money and time

Real estate transactions involve significant due diligence and investigative searches. Title insurance from Stewart Title often reduces the off-title investigative searches involved in closing, saving your client money and leaving him/her with funds that can be used towards the home or mortgage payments.

The discovery of a last minute title or off-title defect may prevent a transaction from closing on time. In such instances title insurance is often used as a problem solver. Our experienced underwriters can work with your client’s lawyer/ notary to provide coverage for many known defects. The ability to underwrite such defects often facilitates the closing of a transaction that otherwise might not close.

Title insurance premiums

Title insurance is available for a low premium that is paid only once at the time of closing, and coverage is valid for the entire time your client owns his/her home. The cost of the premium is often offset by the savings from the reduction in the number of searches the lawyer/ notary might have to complete. Additionally, a title insurance policy can be obtained to satisfy lender survey / RPR/ Building Location Certificate requirements, thereby saving your client the cost (upwards to $1,200) of an up-to-date property survey / RPR/ Building Location Certificate.

Types of policies

The Residential Gold Owner Policy to protect and defend a homeowner’s title to his/her property

The Residential Gold Loan Policy to protect the priority and enforceability of the mortgage for the lender

The Residential Existing Homeowner Policy is available for homeowners who did not obtain a policy when they purchased their home. This policy provides similar protection as a Residential Gold Owner Policy, but is modified by an "existing owner" endorsement. The policy date is the date the homeowner first purchased their property.

Stewart Title also offers commercial title insurance policies and gap coverage.

Policies can be issued all across Canada for:

• residential dwellings of up to six units
• vacant land
• cottages
• condominiums
• cooperatives
• leased land

For a one-time fee, some of the covered title risks for residential properties include:

• someone else owns an interest in your title
• existing liens against the title
• violations of municipal zoning by-laws
• encroachments onto an adjoining property (other than fences and boundary walls)
• setback violations
• realty tax arrears
• outstanding municipal utility charges, provided such charges form a lien on title
• existing work orders
• lack of legal access to the property
• unmarketability of the land due to adverse matters that would have been revealed by an up-to-date survey / RPR/ Building Location Certificate
• fraud, forgery and false impersonation to the extent they affect the validity of title

Stewart Title can also provide additional title insurance information that can be part of your regular client mailings.

Contact us for more information.