DEFECTIVE TITLE When a property is to be sold or remortgaged, investigations of the title often reveal problems which, if not addressed, could prevent the transaction from proceeding. Insurance can be a quick and easy answer to many of these difficulties.
At RSA we insure a wide range of title defects. Our financial strength and security means we can provide cover for high limits of indemnity where required. The following list shows some of the many defective title policies available, but it is not exhaustive. If you have a query which does not quite match the description - or something quite unusual - please contact us, and we will be happy to discuss your requirements. We will be happy to supply a specimen policy wording, if required.
- Lost or missing Title Deeds.
- Lack of legal right of way to a property.
- Insufficient legal easement for services to a property.
- Possessory Title/ Adverse Possession/ Squatters Rights.
- Deed of Gift or sold at undervalue/ Property subject to S339-342 Insolvency Acts.
- Land subject to rights or other interests e.g. rights of way, easements and charges.
- Restrictive Covenants - Please see below for more details about this cover.
- Other - there are many other defects which can be insured. After almost 50 years of handling Legal Indemnities we have underwritten countless policies for unusual and one-off situations. We always try to be flexible in our approach , and this is backed by our wealth of experience. We are always willing to consider something new.
Please click here for a copy of our Defective Title checklist
A full list of our covers is shown in the Product Index which can be found by clicking here
Our Defective Title Indemnity policy includes cover for the loss in market value of the property, damages and the legal expenses that are involved should a claim arise. A single one- off premium is required and the insurance is open- ended. As well as the current owner of the property, our policies also protect future proprietors and mortgagees. We can also include a form of inflation proofing which automatically increases the limit of indemnity by a specified percentage, usually 5% or 10% each year for up to 10 years.
Please Contact Us and we will be happy to discuss your requirements.
RESTRICTIVE COVENANTSTitle to land is often subject to restrictions regarding the type of property which may be built or its permitted use. At RSA, we are happy to consider covering restrictive covenants for properties with existing breaches or where a development or a change of use is intended. In either of these cases, insurance can help to protect the owners against losses and provide security for future purchasers.
Our cover includes:
- compensation to parties with the benefit of the covenant to allow the development to proceed.
- Court awarded damages.
- Demolition and works costs if the development cannot proceed.
- The loss in market value of the insured property.
- Defence costs.
The policy will provide insurance for the owner, mortgagees and future purchasers of the property. The interest of lessees can also be cover if required. Cover is usually open ended and a one-off single premium only is paid. We can also offer an automatic annual increase in the policy, as a form of 'inflation proofing', which will increase the limit of indemnity typically by 5% or 10% each year over a five or ten year period.
Please click here to contact a member of our underwriting team if you would like to discuss a specific risk or the terms of the policy in detail. We will be happy to supply a specimen policy wording on request.
Please click here for a copy of our Restrictive Covenant checklist
LEASEHOLD AND OTHER MISCELLANEOUS RISKSAt RSA we can often help solve the title problems affecting residential freehold and leasehold properties and can satisfy mortgagee’s requirements to enable property sales to proceed. Our most popular products include:
- Maisonette Indemnity
- Contingent Fire Indemnity
- Flying/Creeping Freehold Indemnity
- Local Land Charge Search Indemnity
- Sewer Indemnity
Additionally, we are able to consider cover for the following that can affect your commercial clients:
- Loss of Liquor Licence/Club Registration Certificate
This is an annual policy covering losses which may arise should the liquor licence for the premises be revoked. Separate sections cover the mortgage lenders interest, the drop in the value of the property and loss of profits
- Contingent Fire Indemnity
- Mining or Mineral Rights
- Judicial Review Indemnity
- Portfolio Covers - we can also provide tailor-made covers for a portfolio of risks, such as search indemnities
Please click here to contact us to discuss your enquiry in more detail and obtain the appropriate checklist
TRUSTEE RISKS INSURANCEWe can offer policies for specific problems encountered by trustees and personal representatives of estates such as missing beneficiaries or lost wills. In addition to our standard covers, at RSA we also have the expertise to consider unusual and ‘one-off’ trustee risks.
Missing Beneficiary Indemnity
This cover protects the personal representatives and beneficiaries where searches to trace a missing person or a whole line of the family have proved unsuccessful. Please click here for a Proposal Form.
Trustees Indemnity
This is designed to cover a specific or potential breach of trust which is unavoidable. Examples of such situations include:
- Further beneficiaries being born after distribution of the trust.
- Missing will.
- Directive to distribute funds to a charity which no longer exists.
- Reversion of school sites.
PRODUCT INDEXAdministration Guarantee : Trustee Risks
Adverse Possession: Defective Title Indemnity
Assent Missing: Defective Title Indemnity
Chancel Repair : Misc. Risks
Club Registration Certificate (Loss of Liquor Licence) : Misc. Risks
Contingent Fire Indemnity : Leasehold Risks
Court of Protection Bonds : Trustee Risks
Covenants for repair missing or inadequate : Leasehold Risks
Covenants for title [Law of Property (Miscellaneous Provisions) Act 1994]: Defective Title Indemnity
Creeping Freehold : Misc. Risks
Deed of Gift or Transfer at Undervalue: Defective Title Indemnity
Easements missing or inadequate: Defective Title Indemnity
Enforcing Covenants Missing in a Lease : Leasehold Risks
Enlargement or Enfranchisement under S.153 Law of Property Act 1925: Defective Title Indemnity
Flying Freehold : Misc. Risks
Good Leasehold Title: Defective Title Indemnity
Hold Over Relief : Trustee Risks
Inheritance Tax Liability (Hold Over Relief) : Trustee Risks
Insolvency Act 1986/1994: Defective Title Indemnity
Issue Risk : Trustee Risks
Judicial Review : Misc. Risks
Land Charges:
D(ii) Entry (Restrictive Covenant) : Restrictive Covenant Indemnity
Other Entry: Defective Title Indemnity
Law of Property (Miscellaneous Provisions) Act 1994: Defective Title Indemnity
Local Authority Search Indemnity : Misc. Risks
Loss of Liquor Licence : Misc. Risks
Lost Deed or Deeds: Defective Title Indemnity
Manorial Rights: Defective Title Indemnity
Maisonette Indemnity : Leasehold Risks
Mining or Mineral Rights : Misc. Risks
Missing Beneficiary : Trustee Risks
Missing Landlord : Leasehold Risks
Missing Power of Attorney : Defective Title Indemnity
Missing Will : Trustee Risks
[Old] Mortgage not discharged : Defective Title Indemnity
Possessory Title : Defective Title Indemnity
Prescriptive Rights only : Defective Title Indemnity
Qualified Title : Defective Title Indemnity
Repairing covenants missing : Leasehold Risks
Restrictive Covenants : Restrictive Covenant Indemnity
Reverter of School Sites Act : Trustee Risks
Rights of Pre-Emption : Defective Title Indemnity
Rights of Way missing or inadequate : Defective Title Indemnity
Rights affecting the property : Defective Title Indemnity
School Sites Act : Trustee Risks
Search Indemnity : Misc. Risks
Sewer Indemnity : Misc. Risks
Squatters Title (Possessory) : Defective Title Indemnity
Technical Defects : Defective Title Indemnity
Transfer at Undervalue (Deed of Gift) : Defective Title Indemnity
Trust Fund - Ambiguous instructions referred to in a Will : Trustee Risks
Vesting Assent missing : Defective Title Indemnity
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