Stewart Title offers a range of title insurance policies for existing owners that already own a residential, strata or commercial property, but have not previously purchased a title insurance policy.
We offer the following Residential and Commercial products for existing owners:
Stewart Title’s Existing Owner Policies provide much of the same protection to existing owners as the Residential and Commercial Purchaser Policies provide to purchasers of residential and commercial property. Our existing owner policies are also available for a one-time premium.
Existing Owners are covered for a broad range of risks, including:
Enforcement action by a Local Authority in relation to non-approved structures which have been built by any previous owner of the property without the required Council permits or which do not comply with those permits (for rural properties this cover is limited to the main residence, including sheds, carports, garages used for residential purposes and any swimming pool). This coverage is capped at $160,000.
Forced removal or relocation of a structure because it encroaches over an easement or on to the neighbour’s property and any adverse matter affecting Title that would have been revealed in an up-to-date survey report. Please note that boundary and survey coverage will not apply to land where the land area size exceeds 50 acres.
Loss due to non-compliance with existing zoning and planning laws, unregistered easements and covenants, access orders, access rights or a right of way, lack of legal access, and defects in title to the land.
If you sell the land your buyer may become entitled to refuse to complete the contract as a result of a risk covered under the policy.
Like all insurance policies, the Stewart Title policy excludes certain risks from cover. Some of these standard exclusions include:
Contact us for more information.
Please note that the information on title insurance provided is solely for general information purposes only and does not relate to your personal circumstances. It is not intended to be a complete description of all the terms, conditions and exclusions applicable to the title insurance product. Please refer to your issued policy for full details, including the specific terms and conditions, exclusions and other limits on coverage. Sample policies are available here or upon request.