A title insurance policy ensures your transaction will close quickly and smoothly.
All transactions completed by FNF Canada are accompanied by a policy of title insurance that is issued and underwritten by Chicago Title Insurance Company. As proven experts in underwriting across Canada, Chicago Title Insurance Company has developed underwriting guidelines and standards for FNF Canada that, along with our integration, allow for seamless title solutions and immediate issuance of policies.
Chicago Title Insurance Policy
A loan title insurance policy from Chicago Title, which forms part of the FNF Canada service, provides a lender with comprehensive protection in over 30 heads of coverage, including errors in the public record, issues associated with fraud and forgery, lack of a survey or survey errors, matters that cannot be mitigated by a lawyer in an efficient and timely manner.
The Chicago Title Gold Loan Policy provides protection against loss or damage up to 125% of the registered mortgage amount. Some benefits of the policy include:
- Smooth, seamless and effortless transactions
- Confidence in the knowledge and expertise of our skilled team of underwriters
- Security of partnering with the world’s largest title insurer
The Chicago Title policy remains in effect for as long as the security is registered on title and insures the registration gap to permit instant funding and provides coverage against:
Fraud and forgery
- Fraudulent discharge of the security
- Borrower fraud and forgery, including post-policy coverage
- Coverage from previous fraud involving the land
Issues with the title or the insured security
- Invalidity or unenforceability of insured security
- Unmarketability of title
- Defects in the title
- Errors in the land titles records
- Priority of liens or encumbrances
- Failure to obtain or inadequacy of independent legal advice
- Defects that would have been revealed by an up-to-date survey
- Encroachments onto adjoining lands and/or easements
- Unregistered easements
Municipal bylaw matters
- Lack of a legal right of access to/from the land
- Violation of zoning setback requirements
- Violation of municipal zoning by-laws
- Inability to use property for single family residential purposes
- Contravention of registered restrictions, subdivision, development and other agreements
Chicago Title assumes the legal fees associated with a covered title risk further to its duty to defend contained in each title insurance policy issued with the FNF Canada services.