OREANDA-NEWS. February 12, 2009. The insurance company ROSNO and the agricultural enterprise Barybino-Staroye Ltd. (livestock breeding farm) have concluded a property title contract. The aggregate contractual insurance amount is 288,890,879 roubles, reported the press-centre of ROSNO.

The insurance coverage applies to the agricultural lands situated in Domodedovsky district of the Moscow Region and owned by the abovementioned livestock breeding farm. The total area is 592,050 sq.m. The contractual insured event is the loss by the insurant (as ascertained by court resolution) of the specified property due to termination of the insurant’s title thereto due to the reasons beyond the insurant’s control.

The contract with Barybino-Staroye Ltd. has been concluded for 8 years.

The Barybino livestock breeding farm ranks first in the rating of the 100 largest and best performing milk producers in Russia. It holds a patent on its selection achievement — breeding the line of black variegated cattle "Barybinsky". The enterprise possesses 8,900 heads of cattle. This year, a cattle-breeding complex "Zarya" for 1,200 heads of cattle was established on the basis of the farms of another enterprise — Zarya Podmoskovya which joined Barybino.

Title insurance protects the owner from third-party property claims arising prior to, and effective after, the purchase of such property, as well as from possible termination of the real estate purchase transaction. In Russia, title insurance was launched not so long ago, but nowadays it is the most efficient method for bona fide buyers to protect their property interests in case of house purchases.