Legal Indemnities Insurance
Legal Indemnity Insurance financially protects property purchasers or lenders against issues arising on a property title or covenants.
A type of insurance that covers the cost of legal action that may be taken due to a defect with a property you have bought or have lent money for.
Cover includes:
- Defective Titles including Good Leasehold Title, Lost Title Deeds, Adverse Possession, Outstanding Rights and Easements
- Restrictive Covenants
- Chancel Repair Liability
- Defective Lease including Contingent Buildings Insurance, Absentee Landlord and Maisonette (incorporating seven of the most Common Defects)
- Flying and/or Creeping Freehold
- Insolvency Act
- Lack of Planning Permission and/or Lack of Building Regulation Consent
- Access and/or Services
- Searches including cover for Search Delay, Search Validation, No Search and No Search-mortgagee only
- Contaminated Land – expenses incurred in treating, isolating or removing any substance from the Policyholder’s land in accordance with the requirements of any Statutory Notice
Legal Indemnity Insurance is a one-off payment and lasts for the success of the property.