Title Insurance for home buyers brochure explains your protection

Title Insurance

What Protection does Title Insurance Provide?

Title insurance is a unique and specialised type of insurance which protects you from a number of unknown and hidden risks when purchasing a property. This product should be considered in addition to your home and contents insurance. The following are examples of what risks title insurance with Stewart Title will protect you from:

  1. You purchase a property and are then forced by Council to demolish and/or rectify unauthorised building work that a previous owner carried out without your knowledge Illegal Building Work.
  2. You purchase a property and then discover that your physical boundaries are not the same as the title boundaries. You are required to re-locate the physical boundary, which may result in you losing some of your land which impacts on the market value of your property Survey/Boundary Defects.
  3. You purchase a property and then discover that the property is in breach of an agreement legally affecting your use of the land or an easement, or you have no legal right of access and you are required to do all that is necessary to ensure our property complies with these requirements. This may include additional legal fees required to resolve the breach or rectification works on the property itself Planning & Title defects.
  4. You purchase a property and are subsequently informed that there are outstanding Council rates, Water rates and/or Land Tax which you are now liable to pay as the new property owner Outstanding Rates & Taxes.
  5. You purchase a property and then someone challenges your right as the legal owner although settlement has been effected. For example, the Vendor may owe money to a third party or a third party may have an interest in the property that you are not aware of disputing your right of ownership Duty to Defend.
  6. You purchase a property and then you are deprived of your ownership of the land due to fraud, forgery and identity theft Fraud, Forgery & Identity Theft.

What are some other benefits?

Apart from receiving protection from the above covered risks you also received the following benefits:

  • A one time premium payable at settlement even though you receive coverage for as long as you own the property,
  • No excess on claims,
  • No fault cover. You do not have to prove fault or negligence to lodge a claim,
  • No cap on cover, apart from the policy amount (value of property),
  • 200% inflation allowance for increases in the value of the property over time.

Should you wish to find out more then please visit the Stewart Title website at www.stewartau.com or contact them directly on 1800 300 440.