Clients who have a significant investment in commercial property, and are looking to grow their portfolio, should consider all their risk mitigation options.
As we know, commercial properties bring a specific set of risks relating to planning issues, title defects and fraud.
A title insurance policy from First Title can help address many of these issues. Our Commercial Solutions Policy can be used for most types of commercial property asset classes, including alternatives like infrastructure, renewable energy assets, data or medical centres and agricultural land.
What is Commercial Title Insurance?
Title insurance is a product which offers commercial property buyers protection from a range of risks.
Risks that are encompassed by our Commercial Solutions Policy include:
- Title defects: Protection against unknown defects such as prior charges, outstanding government orders or encumbrances which affect the title.
- Clerical errors: Your investment is protected from errors in public property searches that may cause financial loss, including incorrect boundaries and undisclosed easements. Legal errors at the time of purchase may also provide protection, including errors in outgoing adjustments.
- Fraud: Title insurance protects against a range of fraudulent activities, from forged mortgages to unauthorised sales of the property.
- Survey issues: Items that may be revealed if a survey was completed before settlement. Items revealed from a survey dispute may also be covered, such as encroachments.
- Planning or zoning issues: A title insurance policy can protect against loss associated with the discovery of an issue not permitted under the zoning of the land. This may include floor space, setback, and height of the structure or parking.
Who is First Title?
First Title is a trusted provider of title insurance, providing comprehensive solutions to property owners.
Our reputation is cemented by the fact we are part of the international services division of the First American Financial Corporation, listed on the New York Stock Exchange. First American operates in more than 40 countries around the world, giving us a global presence in the real estate markets.
First Title prides itself on setting the gold standard for customer service and satisfaction in the insurance sector. We aim to provide the best possible protection and support to our clients when insuring their real estate purchases.
Meet the team
For more information on our Commercial Solutions Policy, and how it can benefit your law firm’s clients in their commercial real estate purchases, please contact:
Billy Dent
National Sales Director, Commercial Property
Mobile: 0404 316 684 | Email: BDent@firsttitle.com.au
Billy is leading the rollout of our Commercial Solutions title insurance product for First Title in Australia. This is an insurance product for both buyers and lenders specifically designed for commercial property.
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