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September 06, 2023

Most buyers and lenders engaging in commercial real estate transactions understand that title insurance is needed to protect their respective interest in the title to the property, 但是不要停下来详细地思考什么是覆盖或, perhaps more importantly, 哪些不包括在内,但可以通过一些精心选择的政策背书. Some buyers and lenders who have certain endorsements on their checklists do not know or understand the large number or significance of additional benefits which can be obtained by adding endorsements tailored to the needs of the of the land being insured.  Depending on the nature of the property and/or the specific project currently or slated to be located on the land, 选择正确的背书可以大大提高产权政策的好处.  这些背书通常不收取费用或只收取很少的费用, 所以只有建立额外的保护水平才有意义. Due to space limitations, this article will only touch on some of the most beneficial endorsements available which are often overlooked.


在开始代言之前, however, 我将简要介绍基本保单的内容. 业权保险公司提供两种保单:

  • 保障买方/业主对物业所有权的业主政策, insuring that one hundred percent of the title is owned by the insured; and
  • Loan policies which protect the financing lender’s interest in the property by insuring the priority of the lender’s lien on the property.


The basic policy protections are generally sufficient regarding residential mortgage transactions, 特别是如果一般检验例外从保险单中删除. Commercial transactions, however, 主要是由于适用法律的数量不同, property types and uses, 其他几个因素需要更全面的报道. 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 structure being insured.

The first endorsement Series which insureds should consider adding to the policy are related to zoning issues, known as the 3 Series. Generally speaking, all of the 3 Series endorsements provide coverage that the structure presently located on the land or to be constructed with the lender’s money complies with and is authorized by the applicable zoning code classification.  Just because a particular business has been operated on the property in the past or appears to “fit” with its neighbors does not guarantee that it is compliant or will stay compliant in the event of a change in ownership or to the structure itself. 适用的分区认可, which is only issued after the title insurer is provided with confirmation from the municipality, 在发生后续违规通知时提供保护.

4系列(共管公寓)的适当背书, 5 Series (Planned Unit Development) and 7 Series (Manufactured Housing Unit) should be considered if that is the type of structure located on the insured land.  The first two provide affirmative protection regarding assessments whereas the 7 Series protects against a manufactured housing unit not being considered a part of the insured real estate.

The next highly recommended series of endorsements, Series 8, relate to environmental protection.  These endorsements insure against loss or damage sustained due to any recorded environmental liens not otherwise shown as an exception in the policy.  Environmental liens can be massive and wipe out the entire value of property on which the environmental condition exists.  出借人一般都知道要向本系列申请适用的背书, 这应该列在每个人的清单上. 

另一个普遍要求的非常重要的认可来自9系列, 也被称为“全面”背书, 它提供了与违反土地契约有关的各种覆盖范围, conditions and restrictions, 以及与被保险财产或被保险财产侵占有关的保险. For example, 如果相邻财产铺设的垃圾箱垫部分位于被保险财产上, 此背书保护所有人或出借人免受可能因此而发生的任何损失. 

If the policy is insuring the lien priority of a deed of trust securing a loan being advanced over time, 一定要包括14系列的适当背书(未来推进).  In broad terms, this Series insures against loss sustained as a result of (i) loan advances made by the insured lender after intervening liens such as mechanics or materialmen’s liens have been filed, (ii)循环信贷额度下的再垫款和还款, (三)调整利率或者在本金余额上增加利息.

The next endorsement I typically recommend is from the 17 Series which relates to access and entry to the insured property. 有时当一个属性被细分时, one of the parcels is not allowed access for some reason such as being too close to an intersection or municipal right of way facility.  The 17 Series provide coverage against loss or damage suffered as the result of (i) the insured land not having physical access to a public right-of-way via an access easement shown in the policy or, (ii) the limitation of the right of access via existing curb cuts or entries to a public right-of-way.  Obviously, 承运人签发此背书需要一份最新的检验报告, 但无论如何,当前的调查都应该是强制性的. 

在商业地产领域, 哪里的包裹经常被细分, combined, 他们的边界线调整了吗, etc.,接下来的两个系列的代言是非常值得考虑的.  The 18 Series provide coverage for the land insured by the policy does not constitute a distinct tax parcel or parcels for real estate tax purposes, 与其他财产分开. The 19 Series are typically necessary when the insured property is made up of more than one parcel and insure that they are contiguous to each other with no intervening gaps or other parcels.  同样,承运人签发此背书需要进行检验. 

另一个不容忽视的背书是20-06, 当被保险财产包括多块土地时,哪一种可用.  It provides insurance for lender rights found in almost every commercial deed of trust in use today, namely, that the carrier will pay a claim (if conditions warrant) without the lender needing to (i) accelerate the indebtedness, (ii)对抵押品的其他包裹寻求救济, (iii) pursue any guarantor. 

Speaking of the necessity of a survey, I highly recommend Series 25 (Same as Survey) endorsement.  正如一些不幸的业主和/或贷款人所学到的那样, there is a big difference between just removing the general survey exception from the policy and obtaining affirmative coverage that the policy is insuring the same property which is depicted in the survey. When possible, it is also advisable to have the legal description in the Deed and Deed of Trust refer to the new survey. 

如上所述,这些只是近50种不同的背书中的一部分. 经验丰富的商业房地产律师可以评估土地, structure, loan terms and other factors to request the endorsements applicable to a given transaction to provide the client with the highest possible level of title insurance protection.

Richard Biemiller is a Pender & 现金网官网股东专注于债权人权利领域的业务, 银行和金融机构, 商业交易和房地产.

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