Title Indemnity Insurance
As an indemnity provider we have added Title Indemnity Insurance to our repertoire of indemnity polices.
During the conveyancing process the title of the property will usually be reviewed to determine if the seller is legally able to transfer the title to the property. ie. sell the property. This process also serves to investigate whether there are any defects in the title that could negatively effect the buyer's interests or the market value of the property.
A title defect is an element that is missing or adversely affects the land.
Title Indemnity Insurance covers;
-
Any negative impact on the market value
-
Any damages or compensation awarded to the claimant
The policy itself does not remedy the title defect, instead it provides the client with financial compensation in the event of a problem.
As a law firm we will happily create an online login for you to access our Indemnity Insurance portal. That mechanism will allow you run quotes, upload documents, and will instantly send policies and the invoice. At the same time the system has the flexibility to allow you to back date certain policies by upto 30 days.
If you are an individual, we can provide you with a quote and then pass on the draft policy to your solicitor for them to review.
For more information about Title Indemnity Insurance, please call on 0345 603 0708 or email indemnities@legalbrokers.com.