TPE | Examples
Issue | Solution |
---|---|
Sale of land/ property that was previously used for public purposes, no or incomplete documentation of required ‘déclassement’ | Known Risk Policy |
Seller will liquidate after the sale of the property and limits the duration and the extent of contractual guarantees | Blanket Cover Policy |
Existing legal documents are at risk of being interpreted differently at a later date as a result of more recent caselaw and amendments to the law (public procurement, financial assistance, corporate consents or undertakings) | Known Risk Policy |
France : potential 3% tax risk – differing expert opinions on a 3% tax matter, retention of documents by successive owners is required to remove the risk of a joint and several liability for the 3% tax | Known Risk Policy + document escrow |
Boundary of common areas within a co-owned office building are unclear | Known Risk Policy |
A building permit with missing documents, and an operating permit granted on the basis of incorrect surface measurements | Known Risk Policy |
An existing building could be considered as not meeting the height restrictions imposed by more recent local rules – this may affect the possibility of reconstructing or renovating the building | Known Risk Policy |
Chain of successive ownership – multiple successions (private dwelling) | Known Risk Policy |
Error : deviation of the cadastre / land registry from (notarial) title documents | Known Risk Policy |
Seller provides the required contractual guarantees but buyer doubts the financial strength of the guarantor |
Blanket Policy Cover |
Seller guarantees are of limited duration and scope, and there is a title issue that is excluded from the W&I insurance offer obtained from insurers | Blanket Policy Cover + Known Risk Policy in addition to the W&I policy |
For more information please contact Elise Klein Wassink