Deal Protection Endorsement

Deal Protection Endorsement

When added to a residential or commercial FCT title insurance policy, the Deal Protection Endorsement covers the insured in the event they suffer a loss due to certain errors or omissions in providing legal services during a real estate transaction.

Get added peace of mind knowing your purchase and refinance transactions are covered for risks as soon as the title insurance policy is issued.

For a small premium, the Deal Protection Endorsement provides coverage up to the title insurance policy limit and compliment your E&O Complete. Provides coverage for:

  • Errors or omissions in the review of 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.

$29,380.00 paid

A buyer moved into her condo with plans to renovate it. When she started taking out the walls, she saw fibers, which turned out to be asbestos. The reporting letter her lawyer had prepared when she was closing on the property hadn’t mentioned asbestos. The lawyer had missed the asbestos in their searches, and now that it had been disturbed, it all had to be removed. Fortunately, the lawyer included the Deal Protection Endorsement to the title insurance policy and the insured was covered for the costs.