Legal indemnity insurance covers the purchaser and the lender in the event of loss of value on the property as a result of Legal defect.
Legal Indemnity covers do not actually remedy the defect – they provide financial compensation in the event of the defect causing a loss.
Most common exposures:
- Title insurance
- Restrictive covenants
- Defects in title including loss of deeds
- Rights of Way
- Possessory Title
- Lack of adequate access and/or services
- Deed of gift/transactions at undervalue (Insolvency Act 1986)
- Leasehold problems
- Flying freehold
- Judicial review and other planning and building regulation issues
- Search indemnities & sewer indemnities
- Breach of warranty (portfolio sales)
- Chancel repair
- Trust & probate i.e. missing beneficiary
- Lost documents i.e. lost share certificate
Get started by requesting a quote today.