FORMS & DOCUMENTS: TIRSA Endorsements

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Insures against loss sustained by the Insured if the land does not abut on a physically open street.

Requirements: The name of the street is to be entered in the endorsement (Loan Policy).

Premium: $25.00


Insures against loss or damage sustained by reason of a final decree that the mortgage, as it secures additional interest, is invalid or unenforceable or does not share the same priority as is afforded the principal of the loan secured by the mortgage.

Requirements: The mortgage must secure amounts defined as "additional interest" (Loan Policy).

Premium: The amount of additional interest coverage, as set forth the endorsement, is in addition to the policy amount and is charged at the regular Loan policy rate.


Aggregates the amount of insurance available under several policies insuring the same loan.

Requirements: Mortgages on multiple sites need to be cross-defaulted and cross-collateralized, unless cross-collateralization would increase the amount of the mortgage recording tax. Only mortgage policies of the same title insurer can be "clustered". Applicable mortgage recording tax must be paid. Policy amounts must reflect either fair market value or be computed on a uniformly applied loan-to-value ratio (Loan Policy).

Premium: $25.00


Certificate issued to evidence each co-insurer's liability under a title insurance policy issued by more company.

Requirements: Coinsurance (Owner's and Loan Policies).

Premium: None


(Restrictions, Encroachments, Minerals)


Affords assurances in connection with recorded covenants and restrictions, setback lines, mineral rights, easements and the maintenance of existing improvements.

Requirements: An updated, certified survey is to be reviewed in conjunction with the recorded easements and restrictive covenants (Loan Policy).

Premium: 10% of the unreduced (straight) loan policy premium.


Affords assurance that the unit is part of a validly organized condominium. Insures against outstanding common charges and assessments and any right of refusal to purchase and against the consequences of either an encroachment of a unit or a violation of restrictive covenants.

Requirements: Provide any required waiver of a right of first refusal and consent to mortgage. Confirm that there are no outstanding common charges or assessments (Owner’s and Loan Policies).

Premium: $25.00


Insures against loss or damage if the parcels of land described in the policy are not contiguous to each other along their common boundary line(s).

Requirements: Review of the legal descriptions as identified on an acceptable survey (Owner’s and Loan Policies).

Premium: $25.00


Insures the validity and enforceability of a contract of sale to purchase commercial property.

Requirements: The contract or a memorandum of contract must be recorded (Owner’s Policy).

Premium: The policy to be issued at regular fee policy premium rates must be for an amount not less than the down payment specified in the contract to an amount not exceeding the contract price and the cost of contemplated improvements and other development and construction costs.

When issued without a TIRSA Leasehold or TIRSA Cooperative endorsement, the premium is 120% of the regular Owner’s policy rate. Continuations searches to downdate the policy n excess of five are $200 each. The regular Owner’s premium paid, not including the additional 20% charge, will be a credit on a later issued Owner’s policy.

When an Owner’s policy with the endorsement is issued simultaneously with an Owner’s Policy that includes a TIRSA Leasehold or a TIRSA Cooperative endorsement, the premium is 30% of the otherwise applicable charge (30% of 120%).


Insures the validity and enforceability of a contract of sale to purchase a one-to-four family residence or an individual residential condominium or cooperative unit.

Requirements: The contract or a memorandum of the contract must be recorded. (Owner’s Policy)

Premium: The policy to be insured at regular fee policy premium rates must be for an amount not less than the amount of the down payment. It may also include any additional amount, not to exceed the full amount of the contract plus the cost of contemplated improvements and other development and construction costs. The premium paid will be a credit on a later issued Owner’s policy.


Affords assurance that the cooperative corporation is duly formed and holds title to the land and building of which the unit is a part. Insures against outstanding maintenance charges and assessments, and any right of first refusal to purchase. Insures against the consequences of either an encroachment of the building or a violation of restrictive covenants. Provides a means to determine the value of the estate insured in the event of a loss.

Requirements: Provide any required waiver of a right of first refusal and consent to a mortgage. Confirm that there are no outstanding maintenance charges or assessments (Owner’s and Loan Policies).

Premium: No Charge.


Affords assurance that the cooperative corporation is duly formed and holds title to the land and building of which the unit is a part. Insures against outstanding maintenance charges and assessments, and any right of first refusal to purchase. Insures against the consequences of either an encroachment of the building or a violation of restrictive covenants. Provides a means to determine the value of the estate insured in the event of a loss.

Requirements: Provide any required waiver of a right of first refusal and consent to a mortgage. Confirm that there are no outstanding maintenance charges or assessments (Owner’s and Loan Policies).

Premium: No Charge.


Insures that all “parties-in-interest” under the Zoning Resolution are bound by the Declaration of Zoning Lot Restrictions and that the Zoning Lot and Development Agreement (“ZLDA”) validly transfers floor area development rights. It also insures an easement for light and air and a negative covenant not to build above the transferor’s building if provided in the ZLDA.

Requirements: All “parties-in-interest” under the New York City Zoning Resolution must join in or consent to the development rights transfer. The Declaration of Restrictions, ZLDA, and any waivers are to be recorded. An easement of light and air and a negative covenant not to build must be granted by the ZLDA. Mortgages on the burdened parcel(s) are to be subordinated to the easement of light and air (Owner’s and Loan Policies).

Premium: $25.00


Insures the priority of the lien of a mortgage ver recorded environmental protection liens not excepted in the policy or under state statutes not specifically excluded from coverage.

Requirements: None (Loan Policy).

Premium: $25.0


Insures the priority of the lien of a mortgage property over recorded environmental protection liens not excepted in the policy or under state statutes not specifically excluded from coverage.

Requirements: None (Loan Policy).

Premium: $25.00


Insures the priority of the lien of a mortgage property over recorded environmental protection liens not excepted in the policy or under state statutes not specifically excluded from coverage.

Requirements: None (Loan Policy).

Premium: $25.00


Effective December 1st, 2008


Insures against loss of priority due to the exercise of the Conditional Right to Refinance and the extension of the loan term.

Requirements: Standard Fannie Mae mortgage form (Loan Policy).

Premium: $25.00


For losses exceeding ten percent of the Amount of Insurance, the Company will not require, prior to making a claim, either acceleration of the indebtedness or the exercise of remedies against other collateral.

Requirements: Insured in connection with multi-site transactions (Loan Policy).

Premium: 10% of the unreduced mortgage premium.


Premium: None


Affords the benefits of a policy issued to an IDA (or similar Public Benefit Corporation) as of its original date to its grantee provided that the grantee is the “Beneficial Owner” of the property conveyed to the IDA (or similar Public Benefit Corporation) or its nominee.

Requirements: None (Owner’s Policy).

Premium: $25.00


Endorsement 1 updates a Residential Limited Coverage Junior Loan Policy/Short Form Residential Limited Coverage Junior Loan Policy to include recording information for the mortgage and provide limited gap coverage. Endorsement 2, intended to be issued with each Policy, affords variable rate and revolving credit insurance.

Requirements: Issued in conjunction with a Residential Limited Coverage Junior Loan Policy or Short Form Policy, which insures a second or other junior mortgage lien on a one-to-four family residence or condominium unit for an amount not to exceed $150,000.

Premium: $25.00 for Endorsement 1. No charge for Endorsement 2.


(Revolving Credit - Variable Rate)


Endorsement 1 updates a Residential Limited Coverage Junior Loan Policy/Short Form Residential Limited Coverage Junior Loan Policy to include recording information for the mortgage and provide limited gap coverage. Endorsement 2, intended to be issued with each Policy, affords variable rate and revolving credit insurance.

Requirements: Issued in conjunction with a Residential Limited Coverage Junior Loan Policy or Short Form Policy, which insures a second or other junior mortgage lien on a one-to-four family residence or condominium unit for an amount not to exceed $150,000.

Premium: $25.00 for Endorsement 1. No charge for Endorsement 2.


Insures that the legal description of the insured land is the same as that delineated on a specified survey.

Requirements: An updated, certified survey (Owner’s and Loan Policies).

Premium: $25.00


Amends the policy to define a leasehold estate and to provide a means to determine its value in the event of a loss.

Requirements: None (Loan Policy).

Premium: None


Amends the policy to define a leasehold estate and to provide a means to determine its value in the event of a loss.

Requirements: None (Owner Policy).

Premium: None


The endorsement may be issued for a modular home, as to mobile homes the endorsement can only be issued for units constructed prior to January 1, 1993.

Policy insures against loss or damage not exceeding the market value of the premises at the time of loss.

Requirements: The insured must be a natural person in occupancy of residential property containing no more than four dwelling units, including a residential condominium or cooperative unit (Owner’s Policy).

Premium: 10% of the ALTA Owner’s policy premium or 5% of the policy premium for an Owner’s Extended Protection Policy.


Policy insures against loss or damage not exceeding the market value of the premises at the time of loss.

Requirements: The insured must be a natural person in occupancy of residential property containing no more than four dwelling units, including a residential condominium or cooperative unit (Owner’s Policy).

Premium: 10% of the ALTA Owner’s policy premium or 5% of the policy premium for an Owner’s Extended Protection Policy.


Provides for payment of a loss under an Owner’s policy insuring a real property owning entity or lessee to be made to a Mezzanine Lender pledged partnership or membership interests in that entity.

Requirements: Attach to the Owner’s policy insuring the real property owner or lessee. The insured under the Owner’s policy and the mezzanine lender must countersign the endorsement.

Premium: 20% of the premium paid for the related Owner’s policy.


Insures against loss or damage sustained by the insured if all mortgage recording tax for the insured mortgage has not been paid.

Requirements: Mortgage and related documents must be reviewed (Loan Policy).

Premium: $25.00


Insures that the Company will not deny liability to the insured by reason of knowledge imputed to it through a partner, shareholder, or member by operation of law.

Requirements: Issued with an Owner’s policy insuring the interest of a person or entity purchasing an interest in a corporation, partnership or other entity, which owns real property. The amount of insurance may not be less than the value of the real property apportioned to the purchaser’s percentage interest in the entity. Affidavits of the persons whose knowledge is in question and indemnities in support thereof are required (Owner’s Policy).

Premium: 20% of the Owner’s policy premium.


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