Title Insurance

Posted on April 15, 2008 by | 2 Comments

Peter Mericka B.A., LL.B

Nicola Wilson, Business Development Manager, Victoria and South Australia, First Title - Title Insuranceby Nicola Wilson
Business Development Manager
Victoria and South Australia
First Title – Title Insurance

Real Estate Encyclopedia


Most land in Victoria is registered under what is known as the “Torrens System” of land registration. While the system was adequate when introduced in the 1800’s, Sir Robert Torrens did not anticipate the way in which 3 levels of government would affect land ownership a hundred years later. Nicola Wilson, Business Development Manager – VIC & SA for First Title explains some of the ways in which title insurance can benefit purchasers and existing owners of real estate.

Put simply, a Title Insurance policy is a no-fault contract of indemnity based upon an agreed representation of the state of title to a particular property as at the policy date (being the date of settlement).

The four common types of Title Insurance policy are for:

  • home owners

  • commercial property owners

  • residential mortgage lenders

  • commercial mortgage lenders.

During a conveyancing transaction a Solicitor or Conveyancer will work diligently to identify risks that may affect property. They will often find matters that could affect use of the property in the future; however, there are also risks that the most diligent process cannot discover which may be insured under a Title Insurance policy.

More about “Title Insurance”…

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