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Title insurance for strata properties

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Protect your strata property with First Title

Buying your dream property is exciting but also a very serious undertaking that comes with risks. Not all risks can be uncovered by your conveyancing professional. Title insurance is there to provide extra protection against many of those hidden risks, so you can proceed with confidence and peace of mind.

These are First Title’s top 6 strata property coverage features:

1. Unapproved alterations: To repair illegal or unapproved alterations made in your strata lot by previous owners where your relevant council issues an order to do so up to $160,000.

2. Planning or zoning: Coverage for loss because you cannot use your property as your home as a result of planning and zoning laws.

3. Undisclosed special strata levies: If undisclosed strata levies are raised without your knowledge prior to exchange, the levies may be claimed under your policy.

4. Errors on property searches and enquiries: To compensate for loss caused by errors contained in property searches and enquiries (ordinarily paid by the vendor), ordered by your conveyancing professional to establish whether there are any outstanding rates, charges or land tax payable on the land.

5. Adjustment of taxes and various land charges: Your conveyancing practitioner is an expert – but mistakes can happen. If a mistake related to the adjustment of rates, charges and land tax on your title causes you a loss, coverage is provided.

6. Identity theft and fraud: ID fraud could result in your home being transferred to another owner or mortgaged without your knowledge. If this happens, you may be covered.


There are many other coverage features included in a First Title title insurance policy. For a full description of these features, visit our Important Information and Policy Wording documents page.

What if there is already a problem?

When you or your conveyancing professional finds a potential title related problem in the conveyancing process, we call this a 'known risk'. If this happens, it's possible that title insurance could still be of real benefit to you.

Contact your conveyancing professional or First Title directly to determine whether this known risk can be covered, and how the other areas of title insurance coverage can still help.


Claims Examples

Strata unapproved work

Problem

Shortly after our client purchased a strata townhouse, they were informed by the council that conversion of the garage into a living room had been completed without council approval. The vendor did not disclose this information during the conveyancing process.

Solution

First Title accepted the claim and engaged external lawyers, planners and building designers to prepare and submit an application to council for the living room to remain. The application was accepted and the client was extremely happy that she could keep the additional living room.

Total payout $18,000

Errors on strata levies

Problem

Prior to exchange a meeting of the owners corporation took place, in which a special levy was struck for roof repairs. Some two months after the owners corporation meeting, our clients exchanged contracts on the strata unit.
Nothing in the contract for sale, nor the owners corporation certificate, indicated that a special levy had been struck. To our client’s surprise, they later received a demand to pay special levies totalling just under $4,000.

Solution

First Title accepted the claim. As the purchasers had already made payment of the special levy,

First Title reimbursed our clients in full for the special levy payments.

Get a quote or request title insurance cover with First Title today.