Title Insurance

Title Insurance (also known as property risk insurance) can protect your property against risks that are related to ownership of property, and risks that affect your right to occupy and use your land.

 

Using InfoTrack, you can purchase title insurance for an additional layer of protection to supplement your property searches and certificates. This insurance can protect owners from known or unknown risks. Title Insurance can be purchased both seamlessly during the conveyancing process or,  if your client is already a home owner.

 

InfoTrack’s comprehensive Title Insurance covers you from the following risks:

Property Certificate risks existing before settlement

  • Errors in local government and water rates; land tax certificates; and owners corporation, body corporate and strata management company certificates.
  • Errors made by a conveyancer or solicitor in the review of local government rates, water rates, land tax certificates; and owners corporation, body corporate and strata management company certificates.
  • A proposal to resume the land being purchased by a government, statutory or local authority that would have been disclosed had the relevant enquiry been made.
  • Any loss arising from adverse circumstances affecting the land being purchased, from heritage issues, statutory easements or drainage and/or sewerage issues, that were not disclosed when the relevant enquiries were made. Note: maximum liability under paragraphs 1 to 4 is $1.5 million.
  • Encroachments and other problems that would have been revealed by a boundary or identification survey.
  • Forced removal of illegal or unapproved building works. Note: maximum liability under covered risk is limited to $100,000.

General ownership risks occurring before settlement

  • Matters affecting the insured ownership interest that allow a subsequent purchaser to refuse to settle their purchase (‘unmarketability’).
  • Third-party claims against the insured owner for an interest in the land.
  • Forgery, fraud and other criminal acts that affect ownership at the time of purchase.
  • Title documents that are not properly signed or registered.
  • Problems with the legal right of access or water supply to and/or drainage.
  • Violation of restrictive covenants (except in Queensland) or easements.
  • Zoning problems.
  • Breaches of subdivision laws.

General ownership risks occurring before or after settlement

  • Registration gap claims (including Black vs Garnock precedent claims).
  • Third-party claims to an interest in the land purchase because of fraud or forgery, or a mistake by the Land Titles Office.
  • Neighbours build structures that encroach on the insured land in the future.
  • Third-party work on the land, including work by utility companies, which results in the insured being forced to remove or remediate part or all of the structures on the insured land.

Additional Title Insurance coverage

  • Unlimited legal expenses to defend against insured risks.
  • Rental of an alternative property where the insured land cannot be occupied because of a claim.
  • Neighbours build structures that encroach on the insured land in the future.
  • Automatic inflation cover up to 200% of the purchase price if the value increases because of inflation.

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