Stewart Title’s Commercial Owner Policy of Title Insurance is obtained for a one-time premium at the time a property is purchased and is available for properties such as:
The policy is effective from the date the insured’s interest is submitted for registration and will remain in effect for as long as the insured retains an estate or interest in the land.
The amount of insurance for the commercial owner policy is equal to the purchase price of the property. The amount of insurance decreases by any amounts (other than legal fees and associated legal expenses) that we pay to cover a claim.
Stewart’s Commercial Owner Policy provides coverage for losses arising from many types of title and off-title related risks which impact the insureds interest or use of the land. Other than the post date of policy fraud coverage, the covered risk which gives rise to a claim must exist, but be unknown to the insured, at the date of policy.
1A survey endorsement is available without the need for an existing survey for transactions of up to $25 million for developed land or $12 million for properties under construction or vacant land.
2A zoning endorsement is attached without the need for a zoning search for transactions of up to $25 million. The form of endorsement may vary depending on whether the land is developed, vacant or under construction.
Up to a maximum dollar limit of liability of $5 million in the aggregate, commercial owner policies provide coverage for losses sustained by the insured owner by reason of someone else, after the date of policy, claiming to own an interest in, have rights affecting, or have a lien on the title, because of impersonation or forgery.
The coverage under this endorsement does not extend to any loss if the forgery or impersonation is caused by an employee, officer, director, partner, member, shareholder or agent of the insured owner.
There are standard exclusions and exceptions from coverage contained in all commercial owner policies. These include but are not limited to:
Stewart Title offers a variety of commercial endorsements at no additional cost that can be used to customize our policies to meet the unique requirements of each transaction.
Contact us for additional information.
This website is intended to provide information that is of a general nature and is subject to modification. Coverage and requirements can vary depending on the nature of the transaction and location of the property involved. Please review your actual Stewart Title policy for full coverage details.