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Title Insurance Indemnity Agreement Template for Canada

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Key Requirements PROMPT example:

Title Insurance Indemnity Agreement

"I need a Title Insurance Indemnity Agreement for a mixed-use development property in Ontario, with specific coverage for potential indigenous land claims and historical environmental contamination risks, to be effective from March 1, 2025."

Document background
The Title Insurance Indemnity Agreement is a crucial document in Canadian real estate transactions where specific title defects or potential risks have been identified but can be managed through indemnification. This agreement is typically used when standard title insurance coverage needs to be supplemented with additional protection against specific known risks. The document outlines the indemnitor's obligations to protect the title insurer against losses arising from specified title defects, encumbrances, or other identified risks. It's particularly relevant in complex real estate transactions, development projects, or situations involving unusual title issues. The agreement must comply with both federal insurance regulations and provincial property laws, making it essential to consider jurisdiction-specific requirements. The document includes detailed provisions for claim procedures, financial obligations, and risk management strategies.
Suggested Sections

1. Parties: Identifies and defines the parties to the agreement - typically the title insurance company (Insurer) and the indemnitor

2. Background: Explains the context and purpose of the indemnity agreement, including reference to the underlying title insurance policy

3. Definitions: Defines key terms used throughout the agreement for clarity and consistency

4. Scope of Indemnification: Details the specific risks, defects, or title issues covered by the indemnity

5. Indemnification Obligations: Specifies the indemnitor's obligations, including financial responsibilities and duty to defend

6. Term and Termination: Specifies the duration of the agreement and conditions for termination

7. Representations and Warranties: States the parties' representations regarding their authority and the subject matter

8. Notice Requirements: Outlines procedures for providing notice of claims or other communications

9. Payment Terms: Details the financial arrangements, including any premiums or fees

10. Governing Law and Jurisdiction: Specifies applicable law and jurisdiction for dispute resolution

11. General Provisions: Standard boilerplate clauses including severability, entire agreement, and amendments

Optional Sections

1. Security Requirements: Used when additional security or collateral is required from the indemnitor

2. Insurance Requirements: Included when the indemnitor must maintain specific insurance coverage

3. Assignment and Delegation: Added when transfer rights need to be specifically addressed

4. Dispute Resolution: Included when specific arbitration or mediation procedures are required

5. Confidentiality: Added when sensitive information needs protection

6. Survival Provisions: Used when certain obligations need to survive termination

7. Third Party Rights: Included when third party beneficiaries need to be addressed

Suggested Schedules

1. Schedule A - Property Description: Detailed legal description of the insured property

2. Schedule B - Title Defects: Specific list of title defects or issues covered by the indemnity

3. Schedule C - Financial Terms: Detailed breakdown of any financial obligations, including premium calculations

4. Schedule D - Claims Procedures: Detailed procedures for handling claims under the indemnity

5. Appendix 1 - Supporting Documents: Copies of relevant title documents, surveys, or other supporting materials

6. Appendix 2 - Form of Notice: Template forms for required notices under the agreement

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions






























Clauses


























Relevant Industries

Real Estate

Insurance

Banking and Financial Services

Construction and Development

Legal Services

Property Management

Mortgage Lending

Urban Development

Relevant Teams

Legal

Risk Management

Real Estate Operations

Insurance Underwriting

Compliance

Property Development

Transaction Processing

Title Operations

Relevant Roles

Real Estate Lawyer

Title Insurance Underwriter

Property Developer

Real Estate Manager

Risk Manager

Legal Counsel

Mortgage Officer

Property Attorney

Insurance Compliance Officer

Real Estate Transaction Specialist

Title Officer

Construction Project Manager

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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