Legal indemnities for property - Revision history

Designing Buildings at 08:39, 12 October 2020

2020-10-12T08:39:17Z

← Older revision		Revision as of 08:39, 12 October 2020
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	* [http://www.legislation.gov.uk/ukpga/1986/45/contents Insolvency Act 1986]		* [http://www.legislation.gov.uk/ukpga/1986/45/contents Insolvency Act 1986]

−	[[Category:Property_law]] [[Category:Appointments]] [[Category:Client_procedures]] [[Category:Procurement]]	+	[[Category:DCN_Definition]] [[Category:DCN_Guidance]] [[Category:Property_law]] [[Category:Appointments]] [[Category:Client_procedures]] [[Category:Procurement]]

Designing Buildings at 14:10, 4 February 2020

2020-02-04T14:10:17Z

← Older revision		Revision as of 14:10, 4 February 2020
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	An insurance company can act as a guarantor by countersigning the Letter of Indemnity normally required by Life Offices, Issuing Companies or Registrars before the proceeds can be paid over or a duplicate issued. The indemnity protects the Life Office, Issuing Company or its Registrar should the owner not comply with the terms of the Letter of Indemnity.		An insurance company can act as a guarantor by countersigning the Letter of Indemnity normally required by Life Offices, Issuing Companies or Registrars before the proceeds can be paid over or a duplicate issued. The indemnity protects the Life Office, Issuing Company or its Registrar should the owner not comply with the terms of the Letter of Indemnity.

−	~~= Find out more =~~	+	= Related articles on Designing Buildings Wiki =
−		+
−	=== Related articles on Designing Buildings Wiki ===	+

	* Buy-to-let mortgage.		* Buy-to-let mortgage.
Line 108:		Line 106:
	* What is a mortgage?		* What is a mortgage?

−	=== External references ===	+	= External references =

	* [http://www.legislation.gov.uk/ukpga/1986/45/contents Insolvency Act 1986]		* [http://www.legislation.gov.uk/ukpga/1986/45/contents Insolvency Act 1986]

	[[Category:Property_law]] [[Category:Appointments]] [[Category:Client_procedures]] [[Category:Procurement]]		[[Category:Property_law]] [[Category:Appointments]] [[Category:Client_procedures]] [[Category:Procurement]]

Editor at 12:23, 26 July 2018

2018-07-26T12:23:42Z

← Older revision		Revision as of 12:23, 26 July 2018
Line 100:		Line 100:
	* Joint names policy.		* Joint names policy.
	* Legal indemnity insurance.		* Legal indemnity insurance.
		+	* Mechanic’s lien.
	* Professional indemnity insurance.		* Professional indemnity insurance.
	* Property ownership.		* Property ownership.

Editor at 16:08, 19 July 2018

2018-07-19T16:08:09Z

← Older revision		Revision as of 16:08, 19 July 2018
Line 96:		Line 96:
	* Directors and officers insurance.		* Directors and officers insurance.
	* Easements.		* Easements.
		+	* Hold harmless agreement.
	* Indemnity.		* Indemnity.
	* Joint names policy.		* Joint names policy.

Editor at 12:11, 14 July 2017

2017-07-14T12:11:46Z

← Older revision		Revision as of 12:11, 14 July 2017
Line 100:		Line 100:
	* Legal indemnity insurance.		* Legal indemnity insurance.
	* Professional indemnity insurance.		* Professional indemnity insurance.
		+	* Property ownership.
	* Property rights.		* Property rights.
	* Restrictive covenants.		* Restrictive covenants.

Editor at 11:16, 31 May 2017

2017-05-31T11:16:15Z

← Older revision		Revision as of 11:16, 31 May 2017
Line 9:		Line 9:
	Below are listed some of the more common difficulties associated with defective titles.		Below are listed some of the more common difficulties associated with defective titles.

−	* Lack of assents: An indemnity can be provided against loss sustained due to the past failure of legal representatives to assent to the vesting of the property in themselves or other beneficiaries.	+	=== Lack of assents ===
−	* Deeds of gift and conveyances at an undervalue: An indemnity can be provided to mortgagees and purchasers from donees, to cover situations where a deed or conveyance is declared void under Section 339 of the [http://www.legislation.gov.uk/ukpga/1986/45/contents Insolvency Act 1986].	+
−	* Discharge of mortgage: An indemnity can be provided in respect of the absence of vacating receipts or similar acceptable documentary evidence proving the discharge of a mortgage.	+	An indemnity can be provided against loss sustained due to the past failure of legal representatives to assent to the vesting of the property in themselves or other beneficiaries.
−	* Lack of easements: An indemnity can be provided in respect of claims to prohibit the use of sewers, water pipes and other services which have been constructed through land without formal easements having been granted.	+
−	* Erroneous or inadequate descriptions of land: When the description of land in title deeds is not clear and there is doubt as to whether the whole of the land now being sold was included in previous conveyances, an indemnity can be provided against adverse claims to the title.	+	=== Deeds of gift and conveyances at an undervalue ===
−	* Land charge: If a land charges or local land charges search reveals a charge about which it is not possible to obtain full details, nor removal from the register, an indemnity can be provided in respect of loss which its existence may subsequently cause.	+
−	* Lost documents of title: An indemnity can be provided in respect of adverse claims arising due to the loss of all or some of the title deeds to a property.	+	An indemnity can be provided to mortgagees and purchasers from donees, to cover situations where a deed or conveyance is declared void under Section 339 of the [http://www.legislation.gov.uk/ukpga/1986/45/contents Insolvency Act 1986].
−	* Possessory title: Where land has been acquired by adverse possession an indemnity can be provided against claims in derogation of the possessor’s title. The policy will enable the vendor to offer a marketable title.	+
−	* Powers of attorney: Indemnities can be provided where the use of an incorrect wording in a power of attorney results in a vendor being unable to show good title.	+	=== Discharge of mortgage ===
		+
		+	An indemnity can be provided in respect of the absence of vacating receipts or similar acceptable documentary evidence proving the discharge of a mortgage.
		+
		+	=== Lack of easements ===
		+
		+	An indemnity can be provided in respect of claims to prohibit the use of sewers, water pipes and other services which have been constructed through land without formal easements having been granted.
		+
		+	=== Erroneous or inadequate descriptions of land ===
		+
		+	When the description of land in title deeds is not clear and there is doubt as to whether the whole of the land now being sold was included in previous conveyances, an indemnity can be provided against adverse claims to the title.
		+
		+	=== Land charge ===
		+
		+	If a land charges or local land charges search reveals a charge about which it is not possible to obtain full details, nor removal from the register, an indemnity can be provided in respect of loss which its existence may subsequently cause.
		+
		+	=== Lost documents of title ===
		+
		+	An indemnity can be provided in respect of adverse claims arising due to the loss of all or some of the title deeds to a property.
		+
		+	=== Possessory title ===
		+
		+	Where land has been acquired by adverse possession an indemnity can be provided against claims in derogation of the possessor’s title. The policy will enable the vendor to offer a marketable title.
		+
		+	=== Powers of attorney ===
		+
		+	Indemnities can be provided where the use of an incorrect wording in a power of attorney results in a vendor being unable to show good title.

	= Rights of way =		= Rights of way =

−	* Absence of easements: When a property lacks necessary access rights over adjoining land, a policy can be arranged to provide an indemnity in respect of capital loss and expenses should a third party attempt to prevent the land being used as access to the property.	+	=== Absence of easements ===
−	* Adverse third party rights: An indemnity can be arranged when property is (or may be) subject to rights of way. Cover is available where the rights have not been exercised for a number of years but if exercised would adversely affect the value of the property.	+
		+	When a property lacks necessary access rights over adjoining land, a policy can be arranged to provide an indemnity in respect of capital loss and expenses should a third party attempt to prevent the land being used as access to the property.
		+
		+	=== Adverse third party rights ===
		+
		+	An indemnity can be arranged when property is (or may be) subject to rights of way. Cover is available where the rights have not been exercised for a number of years but if exercised would adversely affect the value of the property.

	= Restrictive covenants =		= Restrictive covenants =

−	* Restrictive covenants can hinder development and make the sale of land or the raising of mortgage finance difficult. When the use or proposed use of a property breaches restrictive covenants we can arrange an indemnity in respect of capital loss, damages and expenses arising from persons claiming the benefit of the restrictive covenants and exercising or attempting to exercise their right to enforce them.	+	Restrictive covenants can hinder development and make the sale of land or the raising of mortgage finance difficult. When the use or proposed use of a property breaches restrictive covenants we can arrange an indemnity in respect of capital loss, damages and expenses arising from persons claiming the benefit of the restrictive covenants and exercising or attempting to exercise their right to enforce them.

	= Leasehold indemnities =		= Leasehold indemnities =

−	* Rights of support: When a residential lease contains no or inadequate rights of support it will often be viewed as unacceptable security by mortgagees. An indemnity can be provided to the mortgagee in respect of any deficiency in the mortgage account due to the absence of or defect in repairing covenants.	+	=== Rights of support ===
−	* Bankruptcy clause: Where a residential lease gives the lessor the right of re-entry in the event of the lessee becoming bankrupt or entering into arrangements with creditors, the property can be rendered ~~mortgageable~~ by providing indemnities to mortgagees.	+
−	* Contingent fire indemnity: An annual policy can be provided to protect both the lessee and the mortgagee in respect of loss due to the failure of the lessor or the adjoining lessees to effect and/or maintain adequate insurance as required by the lease.	+	When a residential lease contains no or inadequate rights of support it will often be viewed as unacceptable security by mortgagees. An indemnity can be provided to the mortgagee in respect of any deficiency in the mortgage account due to the absence of or defect in repairing covenants.
		+
		+	=== Bankruptcy clause ===
		+
		+	Where a residential lease gives the lessor the right of re-entry in the event of the lessee becoming bankrupt or entering into arrangements with creditors, the property can be rendered mortgage-able by providing indemnities to mortgagees.
		+
		+	=== Contingent fire indemnity ===
		+
		+	An annual policy can be provided to protect both the lessee and the mortgagee in respect of loss due to the failure of the lessor or the adjoining lessees to effect and/or maintain adequate insurance as required by the lease.

	= Miscellaneous =		= Miscellaneous =

−	* Sewer indemnities: Local authorities will often grant planning permission for the erection of buildings over sewers provided that the owner of the building undertakes to pay for any increase in the cost of carrying out repairs to the sewer due to the existence of the building. An indemnity can be provided in respect of this extra liability if a call for payment is made.	+	=== Sewer indemnities ===
−	* Railway lease indemnities: British Rail leases normally include a clause which allows it to terminate the lease, without payment of compensation, should it require the property “for the purpose of its undertaking”. This situation can arise if British Rail decides to construct new lines or stations or carry out major repairs. The policy protects the Insured against the loss of residual value of the lease and all reasonable costs and expenses incurred.	+
−	* Missing life policies, stock and share certificates: An insurance company can act as a guarantor by countersigning the Letter of Indemnity normally required by Life Offices, Issuing Companies or Registrars before the proceeds can be paid over or a duplicate issued. The indemnity protects the Life Office, Issuing Company or its Registrar should the owner not comply with the terms of the Letter of Indemnity.	+	Local authorities will often grant planning permission for the erection of buildings over sewers provided that the owner of the building undertakes to pay for any increase in the cost of carrying out repairs to the sewer due to the existence of the building. An indemnity can be provided in respect of this extra liability if a call for payment is made.
		+
		+	=== Railway lease indemnities ===
		+
		+	British Rail leases normally include a clause which allows it to terminate the lease, without payment of compensation, should it require the property “for the purpose of its undertaking”. This situation can arise if British Rail decides to construct new lines or stations or carry out major repairs. The policy protects the Insured against the loss of residual value of the lease and all reasonable costs and expenses incurred.
		+
		+	=== Missing life policies, stock and share certificates ===
		+
		+	An insurance company can act as a guarantor by countersigning the Letter of Indemnity normally required by Life Offices, Issuing Companies or Registrars before the proceeds can be paid over or a duplicate issued. The indemnity protects the Life Office, Issuing Company or its Registrar should the owner not comply with the terms of the Letter of Indemnity.

	= Find out more =		= Find out more =
Line 53:		Line 100:
	* Legal indemnity insurance.		* Legal indemnity insurance.
	* Professional indemnity insurance.		* Professional indemnity insurance.
		+	* Property rights.
	* Restrictive covenants.		* Restrictive covenants.
	* Rights of way.		* Rights of way.

Editor at 10:57, 28 January 2016

2016-01-28T10:57:03Z

← Older revision		Revision as of 10:57, 28 January 2016
Line 50:		Line 50:
	* Easements.		* Easements.
	* Indemnity.		* Indemnity.
		+	* Joint names policy.
	* Legal indemnity insurance.		* Legal indemnity insurance.
	* Professional indemnity insurance.		* Professional indemnity insurance.

Editor at 11:22, 19 January 2016

2016-01-19T11:22:32Z

← Older revision		Revision as of 11:22, 19 January 2016
Line 1:		Line 1:
−
	= Introduction =		= Introduction =

Line 9:		Line 8:

	Below are listed some of the more common difficulties associated with defective titles.		Below are listed some of the more common difficulties associated with defective titles.
−	*Lack of assents: An indemnity can be provided against loss sustained due to the past failure of legal representatives to assent to the vesting of the property in themselves or other beneficiaries.	+
−	*Deeds of gift and conveyances at an undervalue: An indemnity can be provided to mortgagees and purchasers from donees, to cover situations where a deed or conveyance is declared void under Section 339 of the [http://www.legislation.gov.uk/ukpga/1986/45/contents Insolvency Act 1986].	+	* Lack of assents: An indemnity can be provided against loss sustained due to the past failure of legal representatives to assent to the vesting of the property in themselves or other beneficiaries.
−	*Discharge of mortgage: An indemnity can be provided in respect of the absence of vacating receipts or similar acceptable documentary evidence proving the discharge of a mortgage.	+	* Deeds of gift and conveyances at an undervalue: An indemnity can be provided to mortgagees and purchasers from donees, to cover situations where a deed or conveyance is declared void under Section 339 of the [http://www.legislation.gov.uk/ukpga/1986/45/contents Insolvency Act 1986].
−	*Lack of easements: An indemnity can be provided in respect of claims to prohibit the use of sewers, water pipes and other services which have been constructed through land without formal easements having been granted.	+	* Discharge of mortgage: An indemnity can be provided in respect of the absence of vacating receipts or similar acceptable documentary evidence proving the discharge of a mortgage.
−	*Erroneous or inadequate descriptions of land: When the description of land in title deeds is not clear and there is doubt as to whether the whole of the land now being sold was included in previous conveyances, an indemnity can be provided against adverse claims to the title.	+	* Lack of easements: An indemnity can be provided in respect of claims to prohibit the use of sewers, water pipes and other services which have been constructed through land without formal easements having been granted.
−	*Land charge: If a land charges or local land charges search reveals a charge about which it is not possible to obtain full details, nor removal from the register, an indemnity can be provided in respect of loss which its existence may subsequently cause.	+	* Erroneous or inadequate descriptions of land: When the description of land in title deeds is not clear and there is doubt as to whether the whole of the land now being sold was included in previous conveyances, an indemnity can be provided against adverse claims to the title.
−	*Lost documents of title: An indemnity can be provided in respect of adverse claims arising due to the loss of all or some of the title deeds to a property.	+	* Land charge: If a land charges or local land charges search reveals a charge about which it is not possible to obtain full details, nor removal from the register, an indemnity can be provided in respect of loss which its existence may subsequently cause.
−	*Possessory title: Where land has been acquired by adverse possession an indemnity can be provided against claims in derogation of the possessor’s title. The policy will enable the vendor to offer a marketable title.	+	* Lost documents of title: An indemnity can be provided in respect of adverse claims arising due to the loss of all or some of the title deeds to a property.
−	*Powers of attorney: Indemnities can be provided where the use of an incorrect wording in a power of attorney results in a vendor being unable to show good title.	+	* Possessory title: Where land has been acquired by adverse possession an indemnity can be provided against claims in derogation of the possessor’s title. The policy will enable the vendor to offer a marketable title.
		+	* Powers of attorney: Indemnities can be provided where the use of an incorrect wording in a power of attorney results in a vendor being unable to show good title.

	= Rights of way =		= Rights of way =
−	*Absence of easements: When a property lacks necessary access rights over adjoining land, a policy can be arranged to provide an indemnity in respect of capital loss and expenses should a third party attempt to prevent the land being used as access to the property.	+
−	*Adverse third party rights: An indemnity can be arranged when property is (or may be) subject to rights of way. Cover is available where the rights have not been exercised for a number of years but if exercised would adversely affect the value of the property.	+	* Absence of easements: When a property lacks necessary access rights over adjoining land, a policy can be arranged to provide an indemnity in respect of capital loss and expenses should a third party attempt to prevent the land being used as access to the property.
		+	* Adverse third party rights: An indemnity can be arranged when property is (or may be) subject to rights of way. Cover is available where the rights have not been exercised for a number of years but if exercised would adversely affect the value of the property.

	= Restrictive covenants =		= Restrictive covenants =
−	*Restrictive covenants can hinder development and make the sale of land or the raising of mortgage finance difficult. When the use or proposed use of a property breaches restrictive covenants we can arrange an indemnity in respect of capital loss, damages and expenses arising from persons claiming the benefit of the restrictive covenants and exercising or attempting to exercise their right to enforce them.	+
		+	* Restrictive covenants can hinder development and make the sale of land or the raising of mortgage finance difficult. When the use or proposed use of a property breaches restrictive covenants we can arrange an indemnity in respect of capital loss, damages and expenses arising from persons claiming the benefit of the restrictive covenants and exercising or attempting to exercise their right to enforce them.

	= Leasehold indemnities =		= Leasehold indemnities =
−	*Rights of support: When a residential lease contains no or inadequate rights of support it will often be viewed as unacceptable security by mortgagees. An indemnity can be provided to the mortgagee in respect of any deficiency in the mortgage account due to the absence of or defect in repairing covenants.	+
−	*Bankruptcy clause: Where a residential lease gives the lessor the right of re-entry in the event of the lessee becoming bankrupt or entering into arrangements with creditors, the property can be rendered mortgageable by providing indemnities to mortgagees.	+	* Rights of support: When a residential lease contains no or inadequate rights of support it will often be viewed as unacceptable security by mortgagees. An indemnity can be provided to the mortgagee in respect of any deficiency in the mortgage account due to the absence of or defect in repairing covenants.
−	*Contingent fire indemnity: An annual policy can be provided to protect both the lessee and the mortgagee in respect of loss due to the failure of the lessor or the adjoining lessees to effect and/or maintain adequate insurance as required by the lease.	+	* Bankruptcy clause: Where a residential lease gives the lessor the right of re-entry in the event of the lessee becoming bankrupt or entering into arrangements with creditors, the property can be rendered mortgageable by providing indemnities to mortgagees.
		+	* Contingent fire indemnity: An annual policy can be provided to protect both the lessee and the mortgagee in respect of loss due to the failure of the lessor or the adjoining lessees to effect and/or maintain adequate insurance as required by the lease.

	= Miscellaneous =		= Miscellaneous =
−	*Sewer indemnities: Local authorities will often grant planning permission for the erection of buildings over sewers provided that the owner of the building undertakes to pay for any increase in the cost of carrying out repairs to the sewer due to the existence of the building. An indemnity can be provided in respect of this extra liability if a call for payment is made.	+
−	*Railway lease indemnities: British Rail leases normally include a clause which allows it to terminate the lease, without payment of compensation, should it require the property “for the purpose of its undertaking”. This situation can arise if British Rail decides to construct new lines or stations or carry out major repairs. The policy protects the Insured against the loss of residual value of the lease and all reasonable costs and expenses incurred.	+	* Sewer indemnities: Local authorities will often grant planning permission for the erection of buildings over sewers provided that the owner of the building undertakes to pay for any increase in the cost of carrying out repairs to the sewer due to the existence of the building. An indemnity can be provided in respect of this extra liability if a call for payment is made.
−	*Missing life policies, stock and share certificates: An insurance company can act as a guarantor by countersigning the Letter of Indemnity normally required by Life Offices, Issuing Companies or Registrars before the proceeds can be paid over or a duplicate issued. The indemnity protects the Life Office, Issuing Company or its Registrar should the owner not comply with the terms of the Letter of Indemnity.	+	* Railway lease indemnities: British Rail leases normally include a clause which allows it to terminate the lease, without payment of compensation, should it require the property “for the purpose of its undertaking”. This situation can arise if British Rail decides to construct new lines or stations or carry out major repairs. The policy protects the Insured against the loss of residual value of the lease and all reasonable costs and expenses incurred.
		+	* Missing life policies, stock and share certificates: An insurance company can act as a guarantor by countersigning the Letter of Indemnity normally required by Life Offices, Issuing Companies or Registrars before the proceeds can be paid over or a duplicate issued. The indemnity protects the Life Office, Issuing Company or its Registrar should the owner not comply with the terms of the Letter of Indemnity.

	= Find out more =		= Find out more =

	=== Related articles on Designing Buildings Wiki ===		=== Related articles on Designing Buildings Wiki ===
−	*Contractors' all-risk insurance.	+
−	*Defects.	+	* Buy-to-let mortgage.
−	*Directors and officers insurance.	+	* Contractors' all-risk insurance.
−	*Easements.	+	* Defects.
−	*Indemnity.	+	* Directors and officers insurance.
−	*Legal indemnity insurance.	+	* Easements.
−	*Professional indemnity insurance.	+	* Indemnity.
−	*Restrictive covenants.	+	* Legal indemnity insurance.
−	*Rights of way.	+	* Professional indemnity insurance.
−	*What is a mortgage?	+	* Restrictive covenants.
		+	* Rights of way.
		+	* What is a mortgage?

	=== External references ===		=== External references ===
−	*[http://www.legislation.gov.uk/ukpga/1986/45/contents Insolvency Act 1986]

−	[[Category:Property_law]]	+	* [http://www.legislation.gov.uk/ukpga/1986/45/contents Insolvency Act 1986]
−	[[Category:Appointments]]	+
−	[[Category:Client_procedures]]	+	[[Category:Property_law]] [[Category:Appointments]] [[Category:Client_procedures]] [[Category:Procurement]]
−	[[Category:Procurement]]	+

Editor at 11:48, 12 November 2015

2015-11-12T11:48:35Z

← Older revision		Revision as of 11:48, 12 November 2015
Line 44:		Line 44:
	*Easements.		*Easements.
	*Indemnity.		*Indemnity.
−	*Legal indemnity insurance.	+	*Legal indemnity insurance.
	*Professional indemnity insurance.		*Professional indemnity insurance.
	*Restrictive covenants.		*Restrictive covenants.
	*Rights of way.		*Rights of way.
		+	*What is a mortgage?

	=== External references ===		=== External references ===

Designing Buildings at 14:00, 8 July 2015

2015-07-08T14:00:35Z

← Older revision		Revision as of 14:00, 8 July 2015
Line 44:		Line 44:
	*Easements.		*Easements.
	*Indemnity.		*Indemnity.
		+	*Legal indemnity insurance.
	*Professional indemnity insurance.		*Professional indemnity insurance.
	*Restrictive covenants.		*Restrictive covenants.
Line 55:		Line 56:
	[[Category:Client_procedures]]		[[Category:Client_procedures]]
	[[Category:Procurement]]		[[Category:Procurement]]
−	~~[[Category:Contracts_/_payment_/_payment]]~~