Claim Case Study: Title issue
Background
Solution
The developers of an old football pitch in Scotland had a problem. Although they had purchased the land from the Trustees of the former football club who had used the land since the early twentieth century, they could not prove the ownership of some of the land.
First Title immediately instructed lawyers to deal with the solicitors for the Trustees on behalf of all the residents in order to resolve the dispute as quickly as possible.
The developers wanted to build 23 new residential properties on the land. They were advised to obtain a title insurance policy from First Title. Policies were issued not only for the developers themselves but also for each of the 23 new properties built on the land. This meant that each individual who purchased one of the properties bought their house secure in the knowledge that the insurance policy would cover them against any future claim made by someone claiming actual ownership of the land.
Challenge The development was completed and all the houses were sold. Some three years later a letter was sent from a solicitor acting for the Trustees of an estate to all 23 owners of these properties and the original developer claiming that the Trustees were the true owners of the land.
A quick settlement was reached with the Trustees and the necessary legal documentation was completed to conclude the matter. First Title’s policy covered the settlement of this claim against the actual loss and damage incurred because the Trustees were able to prove ownership of this land that had previously been in the football club’s possession for a very long time. In addition to this, the policy covered the legal expenses and surveyor’s costs that were necessary to resolve the matter. The residents of the development were informed that First Title had resolved the matter and that the dispute had been successfully concluded. They were happy in the knowledge that the claim had been finalised without their involvement and that they were spared the stress and expense that often accompanies these circumstances. They were able to sit back and enjoy their homes without the threat of someone else claiming ownership of their land.
Call: +44 (0)141 413 8800 Email: scotinfo@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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