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Newsletter - March 2009 |
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First American is pleased to announce that it is now able to arrange title insurance for real estate transactions in Indonesia.
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Indonesia operates a title registration system. There is no state guarantee of title as well as no legal protection for purchasers deprived of their properties if, by fraud or forgery, the property is transferred to them by a fraudster.
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There are a myriad of different categories of land ownership in Indonesia and frequent cases of competing claims to the same piece of land.
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Title Insurance |
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For a one-time premium First American's title insurance policy insures that an owner owns their property. This includes loss caused by illegal issuance of title deed and loss due to fraud and forgery. The insurance policy also provides defence of title coverage which includes payment of legal costs incurred in that defence.
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For investment and trust managers with fiduciary duties owed to their investors, title insurance is an attractive low cost risk mitigation tool. First American can offer a custom-designed coverage for both purchase and mortgage transactions saving your time and expenses involved in negotiations and due diligence.
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