DO YOU NEED TITLE INSURANCE?
When preparing to make what in many cases may be the biggest investment of your life (buying a home), it may be worth considering a Title Insurance Policy
WHAT IS TITLE INSURANCE?
Title Insurance is a specialised insurance available to home-buyers, protecting against a range of known and unknown risks that may arise during the property purchasing process. Some examples of the unknown or hidden risks associated with buying & selling property includes:
- – Illegal building works / structures
- – Defective registration or transfer documentation
- – Losses due to fraud, forgery, identity theft, duress, incompetency or incapacity
- – Lack of rights to access or use of services
- – Breach of covenants
- – Boundary discrepancy, including encroachment by or on an insured property
- – Outstanding rates and taxes
- – Planning and Title defects
WHY SHOULD YOU GET TITLE INSURANCE?
Title insurance offers practical and affordable solution to numerous issues that may arise during a property settlement process, including both disclosed known risks and unknown hidden risks.
In Australia and New Zealand, where property values are at an all-time high, more and more people are investing in Title Insurance Policies as they face growing risks of fraud, forgery, illegal building works and title defects that present significant financial impact. Title Insurance offers a range of benefits in relation to such risks, and saves time and money on legal proceedings without the need to prove negligence.
Title Insurance is a one-off low cost payment that protects home purchasers for the life of their ownership, and is also available for those who already own insured property.
HOW VICKI PHILIPOFF CAN HELP
As experienced and professional conveyancing specialists, Vicki Philipoff settlement agents can request a Title Insurance Policy from the insurer of your choice, and can arrange payment on your behalf on settlement.
For more information or enquiries regarding Title Insurance Policy, please contact the experts at Vicki Philipoff today!