Home Title Insurance

When buying a property there are many inherent risks which may cause you loss or affect your ownership. Title insurance is a specialised type of insurance which provides protection to home buyers and existing home owners of residential property against certain unknown and hidden risks which may exist at the time of purchase.

Title insurance can cover a range of risks including:

Illegal Building Work: illegal structures which have been built without the required Council permits or which do not comply with those permits of which you are unaware at the time of purchasing the property.  For rural properties this cover may only apply to the primary residence which includes a swimming pool, and not to other structures on the property.

Survey/Boundary Defects: any adverse matters that would have been revealed in an up to date survey report, including buildings erected over title boundaries.

Registration Gap: someone else lodges a dealing which prevents your interest from being registered or recorded.

Fraud, Forgery & Identity Theft: loss due to fraud, forgery or identity theft which results in you being deprived of your ownership of the land. For example, the recent case in WA where a property was sold fraudulently while the owners were living overseas.

Planning & Title Defects: loss due to non compliance with zoning and developments laws, unregistered easements and covenants, lack of legal access, defects in title to the land of which you are unaware at the time of purchasing the property.

Outstanding Rates and Taxes: outstanding rates and taxes on the property which you are now liable for as the current owner of the property.

Premiums start from around $300.00 exclusive of GST and stamp duty, and are a once only payment. The policy does not need to be renewed. Cover is provided while you own the property.

No excess is payable on claims.

Claims are on a no fault basis which means that you don’t have to prove fault or negligence – you only need to prove that you have suffered actual loss based on cover that the policy provides.

Title insurance is optional. It can be purchased at any time and provides cover while you own the property. Contact us if you would like more information about title insurance or go to http://www.stewartau.com/DownloadBrochure.html.

 

 

The service was excellent. The staff exceeded their responsibilities. I would not hesitate to use your company again.

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