Product Focus: Solar park development First Title provided a comprehensive title insurance solution for a major UK solar developer. Background
Known risks covered
First Title was approached by solicitors on behalf of a developer client who had obtained planning permission for a £62 million solar PV development and had taken a lease on the site.
• Title Subject to Rights or Reservations A claim by a third party enforcing the benefits of rights of service media and rights of drainage burdening the land, reserved by specific documents.
The route of the underground cable that was to connect the site to the electricity substation ran through a number of parcels of land, some registered and some unregistered.
• Missing Deed A claim by a third party enforcing any restrictive covenants, rights or easements referred to in specific documents.
Challenge
• Restrictive Covenant (Freehold) A claim by a third party enforcing the freehold restrictive covenants.
The due diligence process uncovered a range of title risks, including easements, access, restrictive covenants and missing deeds. All of these required insurance to enable the transaction to proceed within the tight timescales agreed by the developer and land owner.
Solution First Title’s policy enabled the development and subsequent use of the land (including the installation of substations, cables and ancillary apparatus over, on or under the land) in accordance with the planning permissions.
The skills and experience of the First Title underwriter played a significant role in understanding the complexities of the transaction, subsequently structuring the policy and ensuring it was fit for purpose at a cost acceptable to the client. For further information on how First Title can assist you with its range of specialist cover and policies, please contact directly using the details below.
Call: +44 (0)207 160 8100 Email: info@firsttitle.co.uk Visit: www.firsttitle.co.uk First Title Insurance plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. First Title Insurance plc is registered in England under company number 01112603. Registered office: First Title Insurance plc, ECA Court, 24-26 South Park, Sevenoaks, Kent TN13 1DU.
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