Title insurance
While purchasing real estate on credit one of the requirements of the bank can be purchasing Agreement for Voluntary Legal Liability Title Insurance. And it is right, since you cannot always be sure about exceptional history of purchased housing. There are factors that cause such risks as loss of ownership of housing. IC "Kazakhmys” JSC is ready to offer you insurance product of Voluntary Title Insurance. It is designed only for insurance of collateralized earl estate and providing complex insurance along with an agreement for voluntary insurance of collateralized real estate.
WHY do you need an Agreement for Title Insurance
- In order to meet the requirements of the bank issuing you mortgage loan.
- In order to be sure of clearness of the deal and absence of future compliance risks for real estate being purchased.
HOW MUCH DOES YOUR AGREEMENT COST
WHAT RISKS are covered by the Agreement
- loss of property rights for collateralized property;
- loss and limitation of property rights for collateralized property.
Title insurance covers risks of loss of property rights for real estate in the following situations:
- closing a deal by under age, 14 years old person, without consent of his/her parents (adoptive parents) or trustees except for deals that he/she right to close on his/her own;
- closing a deal by the person recognized as disabled due to mental decease or lunacy;
- closing a deal by the person incapacitated by the court;
- closing a deal by the disabled person who was though in such a state at the moment of signing when he/she could understand meaning of his/her actions and control them;
- closing a deal by the person who has lack of mandate to close the deal;
- closing a deal by the person being influenced by misinformation or by set of adverse circumstances;
- closing a deal with joint property of married couple with consent of non of them;
- revealing of persons who have property rights for the property and were not indicated in this Agreement, namely: uncounted devisees according to the law or testament, dependants, under-age persons, persons serving in the army, staying in custodial settings;
- selling real estate on the basis of letter of attorney after death of property owner who issued the letters of attorney;
- selling real estate that does not belong to the seller according to the property rights;
- forgery of documents;
- closing a deal by legal entity – seller of the property in conflict with aims of his/her activities, or with violation of competence of his/her authority.
For further information about the program, please refer to our managers. We will be pleased to help you.
