Legal Indemnity Solutions e
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Our policies can help to expedite deals, even on problem transactions
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Legal Indemnity Solutions Whatever type of property transaction is being undertaken, the keys to its success are speed, simplicity and confidence. The aim of our policies is to speed up the acquisition, sale and refinancing of property, reduce costs and bring added peace of mind. For example, we can offer cover on property developments at the pre or post-planning stage, as well as providing protection against specialist risks such as Right to Light, mines and minerals, village greens and commons issues, or judicial review. When it comes to property purchase and investments, where completions are often delayed or aborted altogether due to difficulties, our policies can help to expedite deals, even on problem transactions. Cover can be used to replace warranties, to accelerate the release of funds to investors when assets are sold. For total flexibility and convenience, Thomas Carroll Legal Indemnities can offer you a choice of policies from a range of insurers. Using our secure comparison system, we can offer all types of cover on residential property, from simple ‘known risks’ policies, which protect you against issues identified during due diligence, to ‘good title cover’, which protects you against unknown risks that may arise after completion.
Gareth Cotty ACII Director
Thomas Carroll Legal Indemnities can offer you a choice of policies from a range of insurers
Thomas Carroll Legal Indemnities Thomas Carroll Legal Indemnities is the specialist legal indemnity division of Thomas, Carroll (Brokers) Limited. With over 40 years’ experience, our Chartered and award-winning team are proud to be a Top 50 UK Insurance Broker. With our strong regional and national reputation in the legal indemnity sector, our specialist broking team streamlines the process of obtaining legal indemnity insurance solutions in a cost-effective way. We deal with a range of insurers, including Countrywide, CLS, TiteSolv, Aviva, DUAL, Zurich, Stewart Title and Legal & Contingency, offering bespoke wordings and choice of market to suit the needs of individual developers, investors and legal advisors.
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Thomas Carroll have always shown an understanding of the commercial drivers to real estate transactions, proactively understanding the needs of all parties involved and tailor cover on each site accordingly. Penny Cranston Shoosmiths
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Sectors of Expertise Our team provides a wide range of bespoke risk consultancy and insurance placement for a variety of title and legal indemnity risks, including:
•• Right to Light •• Freehold restrictive or positive covenant •• Mines & minerals •• Land subject to rights of way / reservation rights
•• Adverse possession •• Insolvency act indemnity •• Breach of planning / building regulations / listed buildings consent
•• Lack of FENSA Certificate
•• Judicial review •• Land registered with possessory title/good leasehold title
•• Lack of access or easement for services •• Village green registration •• Search indemnity •• Chancel repair •• Building over a sewer •• Absent landlord •• Breach of leasehold covenant
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Benefits of Working with Us Specialist teams able to respond quickly to enquiries, allowing property deals to complete.
•• Insurance policies provide financial
•• Access to a wide range of insurers -
protection where lack of good title, breach of covenants or Right to Light issues threaten to abort the deal
•• We can expedite property transactions – cover can be arranged in some cases on the same day, whereas legal remedy could take months
giving you or your customers choice of market and independent advice on cover requirements, ensuring customers are treated fairly at all times
•• One of the most experienced broking teams in the UK, legally trained – we understand lawyers and talk their language, allowing us to negotiate the most suitable insurance protection
Our Typical Clients As specialist brokers, Thomas Carroll Legal Indemnities support a wide range of real estate clients commercial enterprises, professional advisors and private residential clients, including:
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•• Property developers •• Housing associations •• Pension funds •• Financial institutions •• Private equity investors
•• Commercial businesses owning property assets
•• Real estate lawyers •• Student housing developers
•• House builders
•• Local authorities •• NHS trusts •• Retail & leisure developers •• Residential clients
Freehold Restrictive or Positive Covenant Protection against the enforcement of positive or restrictive covenants. Key Information required: 1. A full copy of the document imposing the restrictive covenants to be insured (or whatever details are available - e.g. office copy entries) 2. Background information regarding: a. The identity of the covenantees
3. If development is intended: a. A layout plan of the proposed development (if applicable) b. Have there been any similar developments carried out in the vicinity of the site? Can these be identified on a plan?
b. The location of the benefiting land c. Gross developed value c. Whether any approaches have been made to parties likely to have the benefit of the covenants d. Objections
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Mines and Minerals Protection against financial loss following the future exercise of rights to extract mineral reserves underneath the property.
Key Information required: 1. A copy of the deed reserving the mines and minerals for which cover is sought, or whatever details are available - e.g. office copy entries 2. A mines and minerals search
Right to Light Cover against damages and compensation awarded, the costs of alteration or demolition necessarily incurred to comply with an action, the diminution of market value or costs incurred prior to the action which render the development abortive.
Key Information required: 1. A copy of the deed reserving the Right to Light, or whatever details are available - e.g. office copy entries (if applicable) 2. Plans and elevations of the proposed development 3. Photographs of the surrounding properties and any building currently constructed on the land 4. Right to Light survey with cut back analysis 5. Copies of planning objection letters 6. Details of party wall or crane oversail agreements
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Lack of Access or Easement For Services Protection against interference with the use of the property due to a lack of legal grant for access and/or services to a property. Key Information required: 1. Where easements are lacking for access and/or services, is the land in question: a. Registered?
2. Background information (if known) on the following: a. Has there been any attempt to contact the person(s) thought to own the access way?
b. Subject to caution? c. Registered as common land or a village green? d. Registered as a public right of way?
b. Have the current owners of the land had any problems because of the lack of adequate easements? c. Other evidence supporting past and present use of the access or easement for services, covering as long a period as possible. 3. A draft statutory declaration confirming use of access or services
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Adverse Possession Cover against a challenge to the occupation of land that forms part of the property but is not included in the documentary title to the property.
Key Information required: 1. A plan identifying the land claimed by adverse possession 2. A draft statutory declaration or other evidence supporting the claim for adverse possession of the land
Village Green Registration Cover against damages or compensation awards, costs of altering/demolishing, diminution in value, abortive costs, where a third party applies to the relevant statutory authority for the registration of the property (or any part thereof ) as a town or village green. Key Information required: 1. A plan identifying the land to be developed 2. Background information on the following: a. A history of the site and its previous uses b. Evidence to rebut grounds for an application to register the land as a village green by reference to the criteria in section 15 of the Commons Act 2006. For example,
any fencing or signage around the site; details of the current use by the legal owner permitting use of the land c. P hotographs of the land detailing its current state and boundaries
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Search Indemnity Protection against financial loss caused by a matter that would have been revealed to the owner of a property by a local authority search.
Key Information required: 1. The current and proposed use of the property 2. Details of when the last search was carried out
Insolvency Act Indemnity Cover in the event that the property transfer is set aside pursuant to the Insolvency Act. Key Information required: 1. Market value of the property
5. Details of the parties involved and any relationship between them
2. Sale price 3. Amount of any loan or mortgage 4. The current and future use of the property
6. A bankruptcy search valid at the time of the transaction
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Breach of planning/ Building Regulations/ Listed Buildings Consent Protection against any enforcement action by the local authority due to the absence of appropriate consents for alterations/use of the property Key Information required: 1. The use of the property 2. The nature of the works carried out and when they were completed 3. A copy of the listing (if applicable) 4. Details of any contact with the local authority
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Our People We employ the highest calibre of specialist brokers. Our broking team consists of experienced, chartered insurance brokers, law graduates and CII qualified individuals to offer you specialist advice on all of your legal indemnity matters. All of our team are members of the Chartered Insurance Institute (CII).
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Left to right
Sarah Jones, Gareth Cotty, Cerith Bevan www.thomascarroll.co.uk
Contact Us Further Information We would welcome the opportunity to meet you and discuss, without obligation, the support that you need.
Thomas Carroll Legal Indemnities is a trading style of Thomas, Carroll (Brokers) Limited who are authorised and regulated by the Financial Conduct Authority.
To find out more about our services or to organise a preliminary meeting please contact:
Gareth Cotty ACII
Sarah Jones LLB (Hons) Cert Cll
Director
Associate Executive
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078 8794 4772 gareth.cotty@thomas-carroll.co.uk
Cerith Bevan LLB (Hons) Dip CII Associate Executive t m e
029 2085 3763 078 7966 5605 cerith.bevan@thomas-carroll.co.uk
Online www.thomascarroll.co.uk/legal-indemnity/
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029 2085 8602 sarah.jones@thomas-carroll.co.uk
London Office Green Park House, 15 Stratton Street, London W1J 8LQ t
+44 (0)20 3036 0232
Caerphilly Office Pendragon House, Crescent Road Caerphilly CF83 1XX t
+44 (0)29 2088 7733
Swansea Office Elm House, Tawe Business Village Enterprise Park, Swansea SA7 9LA t
+44 (0)1792 795 265
Pembrokeshire Office 17 Victoria Place, Haverfordwest Pembrokeshire SA61 2JX t
+44 (0)1437 776 775
Hereford Office Broadway House, 32 – 35 Broad Street Hereford HR4 9AR t
+44 (0)1432 359 500
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info@thomas-carroll.co.uk
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www.thomascarroll.co.uk
Thomas Carroll Legal Indemnities is a trading style of Thomas, Carroll (Brokers) Limited