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Good Title

First Title is able to offer more comprehensive cover than for just known and identified risks.

We also have a policy that can deal with many of the unknown defects and issues that would not fall within the scope of the due diligence report. The aim of the Good Title Policy is to provide additional protection for the Insured, so they should never experience any difficulties when it comes to the ownership and enjoyment of their land.

To achieve this, the following is an example of some of the cover provided under the Good Title policy:

• The Insured is not the owner of the estate or interest in the land.
• Someone other than the Insured owns an interest in the title to the land.
• Forgery, fraud, duress, incompetency or incapacity results in a defect in the title to the land.
• The title to the land is unmarketable.

Further, it is often the case that when it comes to the disposal of land, the seller will provide representations and warranties to a purchaser in relation to the title to the land. The Good Title policy is often used to replace these representations and warranties. In addition, the Good Title policy is invaluable when it comes to transactions where the seller is not in a position to provide any representations or warranties (the seller may be a Insolvency Practitioner who has no previous knowledge of the title).

As a result, the purchaser will have the peace of mind of knowing that the policy is providing surety of ownership at the acquisition stage. Also, the policy will provide a clean exit for the Insured when it comes to selling the properties, as they can rely on the policy, helping the Insured to avoid the necessity to reserve for contingent liabilities against representations and warranties relating to title issues.