First Title Speaks Up on Restitution Issues at Warsaw Conference
3 November 2008
LONDON, November 3, 2008 - First Title Insurance plc (First Title), a subsidiary of First Title plc and the largest provider of title insurance in the United Kingdom and Europe, announces that it addressed the subject of The Effects of Restitution on the Real Estate Market at an inaugural conference on the subject - organised by Infor-Media Poland - and held at Hotel Le Royal Meridian Bristol, Warsaw on October 20 and 21, 2008.
John Bakowski, country manager of First Title in Poland, spoke to attendees from the property development, investment and legal industries about mitigating risks when it comes to restitution issues. Poland remains one of the few countries within the CEE (Central and Eastern European) region which has not passed a comprehensive restitution law. As a result, countless numbers of properties are encumbered with unclear legal titles which can often make property transactions particularly onerous.
Title insurance from First Title can cover the defective title risks posed by restitution - and many other issues - facilitating real estate transactions in Poland and across CEE. An additional advantage of using title insurance to cover restitution and other risks is that a seller may exit the transaction without providing representations and warranties.
John Bakowski, country manager at First Title Poland, comments: "We are honoured to have been asked to speak at The Effects of Restitution on the Real Estate Market conference in Warsaw. Restitution issues - which are especially pertinent to many CEE region countries - can create significant problems during property transactions. Mitigating these risks, especially when it comes to multi-million Euro commercial transactions, is vital for peace of mind and it is title insurance which can secure this."