The Importance of Title Insurance Policy Endorsements in Commercial 房地产 Transactions

大多数从事商业房地产交易的买家和贷款人都明白，产权保险是必要的，以保护他们各自在财产所有权中的利益, but do not stop to think in detail about what is covered or, 也许更重要的是, what is not covered but could be with a few well-chosen policy endorsements. 一些在核对清单上有某些背书的买家和贷款人不知道或不理解通过根据被保险土地的需要量身定制的背书可以获得大量或重要的额外利益.  视乎物业的性质及/或目前或计划在该土地上兴建的具体项目而定, choosing the right endorsements can greatly enhance a title policy’s benefits.  These endorsements are generally issued at no or very little cost, so it only makes sense to build in extra levels of protection. 由于空间限制, 这篇文章将只触及一些最有益的背书可用，往往被忽视.

Owner's Title Policy and Loan Title Policiy

Before jumping into the endorsements, 然而, I will provide a brief summary of what the basic policy covers. There are two types of policies offered by title insurance companies:

• Owners' policies which protect the buyer/owner’s title to the property, insuring that one hundred percent of the title is owned by the insured; and
• 贷款政策，通过确保贷款人对财产留置权的优先权来保护融资贷款人对财产的利益.

Commercial 房地产 Title Insurance Policy Endorsements

对于住宅按揭交易，基本的政策保障一般是足够的, particularly if the general survey exception is removed from the policy. 商业交易, 然而, due largely to the varying number of applicable laws, 属性类型和用途, and several other factors require more comprehensive coverage. The following is a list of many of the endorsements which should be considered in almost any commercial transaction; some of them are part of a “Series” from which one must choose depending on the type of land or 结构 being insured.

被保险人应考虑在保单中加入的第一个背书系列与分区问题有关, 被称为3系列. 一般来说, 所有3个系列的背书都保证了目前位于土地上的结构或将用贷款人的资金建造的结构符合并得到了适用的分区代码分类的授权.  仅仅因为某项特定的业务过去曾在该物业上经营过，或者看起来与其邻居“相配”，并不能保证它是合规的，或者在所有权或结构本身发生变化的情况下保持合规. 适用的分区认可, which is only issued after the title insurer is provided with confirmation from the municipality, provides protection in the event there is a subsequent violation notice.

The appropriate endorsement from the 4 Series (Condominium), 如果5系列(规划单元开发)和7系列(制造住宅单元)是位于被保险土地上的结构类型，则应考虑.  前两种提供关于评估的肯定保护，而7系列则保护不被视为被保险房地产一部分的制造住房单元.

下一个强烈推荐的代言系列，系列8，与环境保护有关.  这些背书针对因任何记录的环境留置权而遭受的损失或损害进行保险，否则将在保险单中作为例外情况显示.  环境留置权可以是大规模的，可以消灭存在环境条件的财产的全部价值.  Lenders generally know to request the applicable endorsement from this Series, and it should be on every checklist. 

Another commonly requested and very important endorsement is from the 9 Series, also referred to as the “Comprehensive” endorsement, which provides a variety of coverages related to violations of land covenants, 条件和限制, as well as coverage related to encroachments on or by the insured property. 例如, if the adjoining property’s paved dumpster pad is located partially on the insured property, this endorsement protects the owner or lender from any loss which might occur as a result. 

如果该政策是保证留置权优先的信托契约保证贷款被提前一段时间, one should definitely include the appropriate endorsement from the 14 Series (Future Advance).  广义上讲, 本保险系列承保以下情况所造成的损失:(i)被保险贷款人在提交机械或材料留置权等中间留置权后预支贷款, (ii) re-advances and repayments made under a revolving line of credit, (iii) adjustment of the interest rate or the addition of interest to the principal balance.

我通常推荐的下一个背书来自17系列，涉及到进入被保险财产. Sometimes when a property is subdivided, 其中一个地块由于某些原因不允许进入，例如太靠近十字路口或市政路权设施.  17系列保险针对以下情况造成的损失或损害提供保险:1)被保险土地没有通过保险单或保险单中所示的通道地役权获得公共路权, (ii)限制通过现有路堑或入口进入公共路权的权利.  很明显, a current survey will be required for the carrier to issue this endorsement, but a current survey should be mandatory in any event. 

In the commercial real estate arena, where parcels are frequently subdivided, 结合, have their boundary lines adjusted, 等., the next two Series of endorsements are well worth considering.  18系列提供覆盖的土地保险的政策不构成一个独特的税收包或包为房地产税的目的, separate and apart from other property. 当被保险财产由多个包裹组成时，通常需要19系列，并确保它们彼此相邻，没有中间的间隙或其他包裹.  Once again, a survey will be required for the carrier to issue this endorsement. 

Another endorsement which should not be overlooked is the 20-06, which is available when the insured property consists of more than one parcel of land.  它为贷方的权利提供保险，这些权利几乎存在于今天使用的每一份商业信托契约中, 即, 承运人将支付索赔(如果条件允许)，而贷款人不需要(i)加速债务, (ii) pursue remedies on other parcels of the collateral or, (三)追索保证人. 

说到检验的必要性，我强烈推荐第25系列(与检验相同)背书.  As some unfortunate owners and/or lenders have learned, 仅仅从保险单中删除一般调查例外和获得肯定的保险范围之间存在很大的区别，即保险单对调查中描述的同一财产进行了保险. 在可能的情况下, 在契据和信托契据中对新调查的法律描述也是可取的. 

As noted, these are just some of the almost fifty distinct endorsements available. An experienced commercial real estate attorney can evaluate the land, 结构, 贷款条款和其他要求背书的因素适用于特定交易，为客户提供尽可能高水平的产权保险保障.

理查德Biemiller 是一个现金网官网 & 现金网官网 shareholder focusing his practice in the areas of creditors’ rights, banking and financial institutions, commercial transactions and real estate.