Newfoundland and Labrador

Endorsement Name Real Estate Type Policy Type Coverage Exclusions Fee Coverage Qualifier
Post-Policy Date – Encroachments, Restrictions & Work Orders Commercial Loan policy The Post-Policy Date – Encroachments, Restrictions & Work Orders endorsement may be added to a commercial title insurance loan policy. This endorsement provides coverage for loss or damage resulting from the following matters arising after the Date of Policy when the borrower:
• builds something without the required building permit or occupancy permit or that encroaches onto adjoining land or too close to the lot line (in violation of building setback requirements that were in effect on the Date of Policy),
• receives a work order or deficiency notice and doesn’t complete the work,
• violates a covenant, condition, limitation or restriction in a document or instrument registered in the Public Records on the Date of Policy, and
• the borrower’s neighbour builds a structure that encroaches onto the borrower’s land.		 This coverage is not available for private lenders and is only applicable for 1st or 2nd priority mortgages. $100.00 n/a
Super Priority Liens – Extended Coverage Commercial Loan Policy

The Super Priority Liens – Extended Coverage endorsement may be added to a commercial title insurance loan policy. The loan policy jacket provides coverage for deemed trust claims made by governmental authorities. This endorsement extends the existing title insurance coverage to include super priority lien claims made within 10 years following the discharge of the mortgage.

Note: this coverage is automatically included with all residential title insurance loan policies at no extra cost (institutional AND private lender transactions).

 Not available for vendor take-back (VTB) mortgages or for policies insuring private lenders where the lender is not in first or second priority. $175.00 Coverage capped up to a max. of $500,000.
Market Value Endorsement Residential Homeowner policy Every residential homeowner title insurance policy we issue contains a standard provision to address the increase in fair market value of the Land, which will compensate the insured for a maximum of 200% of the policy amount for an actual loss because of a covered risk. This additional protection ensures that the homeowner’s policy amount reflects the increase in value of the property due to market conditions. Should the homeowner suffer a loss as a result of a covered title risk, the endorsement will provide coverage for that loss up to the current market value of the home. Excludes coverage for an increase in value due to renovations undertaken by the homeowner. 10% of the homeowner policy n/a
Deal Protection Endorsement Residential & Commercial All policies The Deal Protection Endorsement provides coverage for purchasers and mortgagees on residential and commercial transactions for losses that may arise due to certain errors or omissions made by the lawyer in complying with the written instructions of the insured under the title insurance policy or failing to perform those professional obligations imposed by law or by their governing body. Adding this endorsement will protect the insured against losses due to:
- Errors or omissions in reviewing the agreement and documents related to the purchase or financing of the Land,
- Errors or omissions made in the statement of adjustments or the disbursement of closing proceeds,
- Failure to conduct title or off-title searches in accordance with written instructions from the client,
- Errors or omissions made in the written legal opinion regarding the title or off-title searches,
- Failure to obtain additional documents that pertain to the transaction.		 n/a Various Not available for existing homeowner policies. The coverage for commercial transactions is the amount insured under the title policy, up to a maximum of $5 million.
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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