What Commercial Endorsement do I need?

Selecting the right endorsements for your title insurance policy is a critical part of safeguarding your interests in the subject property. Title Mark, LLC offers a full range of endorsements which you should consider implementing as part of your coverage. We can also create endorsements on a custom basis.

Access Endorsement – Access is often the most important title issue on commercial property. Access to certain public roads, common driveway/parking are and private road are essential for co-owners, clients, vendors and staff.

Comprehensive Endorsement – Like the title implies, this is a comprehensive series of protections that the insured or its counsel must read to determine if specific title defects are covered. Generally, this endorsement provides coverage from losses due to violations of covenants and restrictions of record, and from encroachments of existing improvements across the boundary lines of the subject property. This is almost uniformly requested by lender’s and buyer’s counsel in commercial transactions.

Contiguity Endorsement – This endorsement may be advisable where the value of the subject property derives at least in part form being adjacent to a public road or separate property. The endorsement protects the insured against losses which may result if it is later determined that the subject property is not contiguous to said highway or property. We can also insure that multiple parties are contiguous (no gaps).

Survey Endorsement – This endorsement protects the insured against losses resulting from inaccuracies in the survey of the subject property. Title Mark, LLC recommends that a survey be obtained for every commercial transaction, due to typical commercial property values and the range of applicable property uses. (Go to Obtain Survey for more information)

Tax Parcel Identification Number Endorsement – Property tax payments are referenced and credited with local governmental entities based on the identification number assigned to the subject property. This endorsement states the applicable tax identification number and protects against losses suffered as a result of an inaccuracy. Multiple tax parcels may pose a problem with building set backs and other government regulations.

Usury Endorsement – If a legal determination is made that a rate charged by an insured is usurious, i.e., in excess of that rate permitted by state law, the borrower may avail itself of creditor’s rights which could harm the priority of the insured’s interest in the subject property. However, Title Mark, LLC can provide coverage against losses suffered as a result of such a determination.

Zoning Endorsement – There are two different types of zoning endorsements. The first type is desirable where it is contemplated that improvements will be made to the subject property. The zoning of the subject property is stated in the policy, a list of permitted uses is provided, and protection is given against losses resulting from a determination that the insured can not use the subject property pursuant to the listed zoning or uses. The second type of zoning endorsement, called the Completed Structure endorsement, protects against losses suffered as a result of a court order or judgment that the improvements, present on the property at the time of the transaction, are in violation of local zoning law. There is an additional charge for the zoning endorsement equal to 10% of the policy premium.