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Stewart Title’s Residential Gold Policies provide protection for risks that reach beyond the scope of a traditional lawyer’s/ notary’s opinion and for problems which may only surface after closing. Whether it is a house, condominium or cottage, title insurance brings security to lawyers, notaries, lenders and homeowners during and after the real estate closing process. Coverage is valid for the entire time your client owns his/her home.

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. The Existing Homeowner Policy gives you the opportunity to contact your clients with a value-added service they may not know is available.

Stewart Title also offers commercial title insurance policies and provides 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

Cost effective, timely closings

At a low, one-time premium, title insurance often pays for itself when compared to the cost of an up-to-date survey/ RPR/ Building Location Certificate and standard off-title searches. Title insurance has no deductible so the premium is truly a one-time fee.

Our lender policies are accepted widely in the lending industry. In fact, our survey/ RPR/ Building Location Certificate coverage is generally acceptable to lenders in lieu of an up-to-date survey/ RPR/ Building Location Certificate. This saves borrowers the cost of obtaining a new survey/ RPR/ Building Location Certificate and allows for a transaction to close faster.

As well, with title insurance, waiting for municipalities to respond to compliance letters, searching for old or obtaining new surveys/ RPRs/ Building Location Certificates is (in most cases involving single family residential homes), no longer necessary. Our underwriting department is available to review and underwrite many known title and off-title defects, thereby accelerating the closing process.

Minimizing lawyer/ notary liability

Stewart Title waives its rights of subrogation against lawyers/ notaries in all cases except for intentional acts or omissions, gross negligence, or fraudulent acts or omissions. Subject to the above, in the event Stewart Title pays a claim, liability rests with Stewart Title and not the lawyer/ notary acting in the transaction. This reduction in exposure to negligence actions is a direct benefit to the lawyer/ notary.

Ordering options

Stewart Title also provides several ordering options for lawyers/ notaries. Residential and commercial title insurance policies can be ordered by phone, fax and Internet. Examining Counsel Members benefit from ordering via STEPS online.

Contact us for more information.