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Cooperative - Loan Policy

Description
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.
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