REITS can have a standardized policy that applies to all of their transactions and allows them to move easily into the securitization process. This means less time and expense involved in negotiating transactions.
Stewart Title has streamlined the policy issuing process to ensure a fast turnaround so that REIT transactions close on time. Whether it is a single or multi-site transaction, we can provide gap coverage between the advance of funds and the registration of closing documents.
By purchasing title insurance, investors can protect their property interests and prevent losses arising from various title and off-title risks. 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 you hold interest in the property.
Additional Advantages of Stewart Title’s Commercial Title Insurance
Protection Against the Unexpected There are areas where lawyers/ notaries cannot provide a legal opinion. Fraud, forgery, false impersonation, missing heirs or errors in the public record can all impact a commercial transaction. Title insurance offers protection against many unexpected matters. Eliminates Closing Delays By underwriting known defects, encroachments or title problems, Stewart Title facilitates the closing of the transaction. Saves Costs Title insurance may reduce the amount of due diligence and off-title searches required to close a transaction. Title insurance is available for a one-time premium. Priority and Enforceability of the Lender’s Mortgage Our Commercial Loan Policy insures the lender’s interest, providing protection for the lender if they suffer a loss as a result of a title defect. Our policy coverage lasts for as long as the mortgage is outstanding. Gap Coverage Registration of the mortgage on title and the advance of mortgage proceeds may not occur at closing, as there could be delays in the registration process. Title insurance protects against intervening liens claiming priority between closing and registration. No-Fault Claims and Defense of Title Title insurance is no-fault based coverage. The claims process is straightforward and does not involve having to prove negligence. Stewart Title also covers legal fees and expenses associated with defending the insured’s title against claims arising from covered title risks. Opportunity to Trade Mortgages on the world market with some degree of standardization.
Why Stewart Title?
An Industry Leader As one of the world’s leading title insurers, Stewart Title’s commercial portfolio ranges from smaller commercial sites to multi-site and cross-border transactions, and is among the strongest and most impressive in the industry. We have provided customized coverage for some of the world’s best hotels, golf courses, resorts, office towers and business centres. See some our worldwide Spotlight transactions to find out more. Canadian Expertise Each commercial property is unique and can present its own set of closing challenges. Our expertise is in providing lenders and owners with the best security, coverage and service available. Underwriting Excellence Handling transactions that require special underwriting and risk analysis is what we do best. Our team is recognized as offering the knowledge and ingenuity necessary to handle today’s complex transactions. Specialized Endorsements Because of the variety of commercial property types and the nature of various transactions, Stewart Title offers commercial endorsements that can be tailored to suit almost every situation. Cross-Border Transactions It takes experience, responsiveness and dedication to complete all aspects of a cross-border transaction. From selecting the appropriate coverage to tying in loan policies for multiple sites, we have the resources to understand the nature of your transaction and how best to protect it.