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Title insurance is a minor cost, but it could be a major protection for<br />
your property purchase.<br />
If you're buying a property, chances are you've already been told<br />
about a number of insurance policies. While your home and contents<br />
insurance will protect your physical investment, title insurance can<br />
be crucial in protecting your ownership rights.<br />
is title insurance?<br />
What<br />
insurance is a policy that provides coverage for risks that could<br />
Title<br />
the ownership of your home and your legal rights to it.<br />
impact<br />
title insurance is common in the United States, it's still a<br />
While<br />
relatively new product to the Australian market.<br />
are your lender will already have title insurance. Since<br />
Chances<br />
hold the title to your property as security, they'll want to<br />
they<br />
their investment and their legal rights to the property in the<br />
protect<br />
you default. But their policy doesn't cover you.<br />
event<br />
you can take out your own title insurance policy to cover<br />
However,<br />
against risks that ownership issues could arise both before<br />
yourself<br />
after settlement. While conveyancing will uncover many of<br />
and<br />
potential risks, there are other risks it can fail to uncover.<br />
these<br />
insurance also protects you from risks that arise in the future.<br />
Title<br />
can be risks such as forgery and fraud, encroachments and<br />
These<br />
unregistered easements on your property.
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