Gap Coverage Extension
Mar 26th, 2020 | By FCT
At FCT we are doing our part to alleviate some of the worries that come from delays or closure at land titles/registry offices by offering Extended Gap Coverage to legal professionals. This coverage is available to you for your commercial and residential transactions, at no additional cost.
Our purpose in doing this is to help minimize the impact to your businesses. In the event there is a disruption to provincial land titles/registry offices, we have streamlined the process so that you are free to advance mortgage funds without restrictive conditions and close your transactions despite the fact that closing documents are not registered on the same day.
FCT’s title insurance policy provides protection for any loss that results should a registration occur between the period that a title search is conducted and the closing documents are registered at the land titles/registry office.
Close with confidence
If you are unable to execute documents due to the closure of provincial offices, please don’t hesitate to contact our underwriting team, who are working diligently to help you close your deals.
Please feel free to reach out to us at the following toll-free numbers:
Residential title insurance: 1.866.804.3122
Commercial title insurance: 1.866.804.3112
Quebec title insurance 1.866.744.8962
Insurance by FCT Insurance Company Ltd., with the exception of commercial policies. Subject to certain exceptions, commercial title insurance policies equal or below $10M CAD are provided by FCT Insurance Company Ltd. Commercial title insurance policies above $10M CAD are provided by First American Title Insurance Company. Services by First Canadian Title Company Limited. The services company does not provide insurance products. This material is intended to provide general information only. For specific coverage and exclusions, refer to the applicable policy. Copies are available upon request. Some products/services may vary by province. Prices and products/services offered are subject to change without notice.
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