Using Title Insurance Safely Checklist
Title insurance plays an important role in real estate transactions. each transaction presents a different set of circumstances and risks. The Using Title Insurance Safely checklist (English) (Francais) keeps you on top of the variety of issues to consider when your are obtaining a title insurance policy for your client.
The checklist provides further details on the tasks listed below. Print out the PDF to check off steps as they are completed, and add it to your file as a record of your progress.
- Know the policy and routine endorsements
- Obtain information from client
- Consider ordering survey
- Make early disclosure to client (e.g. retainer letter)
- Confirm if client does NOT want title insurance
- Do title search
- Consider need for abutting parcel searches
- Do executions search
- Undertake off-title due diligence as required by title insurer
- Undertake additional off-title searches (if any)
- Consider endorsements required
- Order title insurance
- Review draft coverage for your specific transaction
- Review any property-specific exceptions to coverage in detail
- Confirm premium will be as expected
- Meet with your purchaser client
- Make any necessary disclosure to lend
- Close the deal
- Pay the premium and obtain issued policy(ies) promptly
- Review the issued policy(ies) immediately
- Report to the purchaser and lender