Mortgagee Sales – Title Insurance as a Risk Management Tool

Conveyancing practitioners should consider title insurance when acting for a purchaser in a mortgagee sale transaction. In most, if not all cases, the mortgagee in possession will not be able

to provide any information concerning the legal status of the improvements erected on the land, and will be unwilling to attach a building certificate to the contract, or make the contract conditional upon a building certificate being provided prior to completion.

A Stewart Title Residential or Commercial Purchaser Policy provides cover in respect of any illegal structures which have been built without the required Council permits or which do not comply with those permits (for rural properties this cover only applies to the primary residence and not to other structures on the property).

Is your client protected? Contact our Underwriting Department on 1800 300 400 or visit our website www.stewartau.com to find out how Stewart Title can assist in providing you with an effective risk management solution.