What is Title Insurance?

Be protected from the unexpected.

Title insurance is a concept of growing importance in the Australian and New Zealand market place. It is estimated that over 30% of Australian properties have some form of illegal building structure or issue that could create a risk in the future of the property owner.

Title insurance provides protection against a wide range of risks that can be apparent on any property or property transaction, basically insuring that the owner of that property has good title.

So, what can happen to mean that you may not have good title?

• Illegal building works being discovered that could result in the council ordering you to demolish or repair parts, if not all, of the property.
• Someone else claiming an interest in your land. This can occur between settlement of your purchase and the title being registered in your name.
• Fraud or forgery resulting in a challenger to your ownership, or in a fraudulent mortgage being registered against the property.
• Any issue that would have been revealed in an up to date survey.
• Zoning issues which prevent you from residing in the house.
• Outstanding rates and taxes from previous owner which you could become liable for after settlement.

These risks are a real possibility and if they occur and you don’t have title insurance protection you could be on the hook for large costs in either rectifying the issue, or fighting council’s decision.

Title insurance provides protection against these and many other risks to insure that your new purchase, or existing home, is protected for the life of your ownership.

For more information on specific products and services see the relevant section of this website.