In September 2008, Stewart Title launched a comprehensive Commercial Purchaser Policy. The policy was developed for transactions of up to $2 million and provides protection in respect of commercial, industrial and commercial used rural zoned land against certain unknown and hidden risks.
The Commercial Purchaser Policy provides coverage for those risks which are unknown to your clients and where circumstances creating or giving rise to those risks existed or occurred before settlement, or during the registration period.
Under the policy, coverage is provided for losses arising from:
- Illegal Building Work
- Survey/Boundary Defects
- Registration Gap
- Fraud, Forgery & Identity Theft
- Planning & Title Defects
- Unmarketability
- Outstanding Rates and Taxes
Stewart Title recognises that commercial transactions vary in nature. As such we also offer a Commercial Purchaser Policy for properties with a purchase price of over $2 million. This policy may be tailored to suit your client’s risk management needs.
Please contact our Underwriting Department on 1800 300 440 to discuss your transaction and for further information on how we can protect your client. Or, you may visit our website www.stewartau.com for a sample policy.