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DELHI, HARYANA, BENGAL PLAN TO INSURE LAND TITLE
Delhi, Haryana, West Bengal, AP and Orissa are planning to insure land titles in their respective states. Land title insurance is an indemnity insurance against financial loss from defects in title to real property and from the invalidity or unenforceability of mortgage liens. It is meant to protect an owner's or lenders financial interest in real property against loss due to title defects, liens or other matters.
  
A one-time premium in this regard will be shared by the state governments and the primary lending institutions to provide land title insurance. According to industry analysts, many land deals fall through and many result in disputes due to unclear and defected land titles. Apart from companies, foreign investors are also wary of investing in Indian real estate due to the same reason. Insurance of the land titles will remove one of the major hurdles faced by investors in this sector. The move is expected to give a boost to FDI flow into the sector.
 
The product will act as a defence if there is a lawsuit attacking the title by providing reimbursement of the insured for the actual monetary loss incurred. It is available in many countries but it is principally a product ... more

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