Insurance Premiums Determination At Conclusion Of Title Insurance

As in case of any other type of insurance, the cost of title insurance will depend on the cost of purchased object or price specified in the agreement, on the term for which the insurance contract is signed, on results of the carried-out legal examination and revealed suspicious factors on this object.

Depending on above-mentioned factors the amount of insurance premium will fluctuate in the range of 0,3-3% of real estate transaction cost.

The list of documents which you should provide to the insurance company may be diverse therefore it is better to specify these data at the company in which you want to insure the transaction.

However there are standard documents which will be necessary for you at any insurance company for the conclusion of the agreement on title insurance. This is a certificate of your personality (passport) and seller’s passport. The certificate on property right to dwelling or other real estate object is also will be necessary for you, the agreement on property expropriation preceding transaction for up to 5 years. If the object was inherited the certificate on inheritance right and if available, copy of the testament. If the child is registered in the apartment or other dwelling the permission from guardianship agencies for expropriation of real estate on which the transaction will be made is necessary. Also the notarized consent of husband (wife) is required if the seller is married. Technical data sheet on object and   statement from house register.

If the owner of the sold property is a person of advanced age, most likely the reference from a clinic of a psycho neurological and drug abuse orientation will be necessary.

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