Title Insurance - Should You or Should You Not Buy a Home Title Insurance?

Should You or Should You Not Buy a Home Title Insurance?

 

 

Why Title Insurance?

-  Most financial institutions in Canada recommend/require title insurance on their mortgage transactions.

-  80% of transaction in Ontario close with title insurance.

-  Lawyers required by the Law Society of Upper Canada (LSUC) to discuss title insurance in Canada.

-  Title insurance has been in Canada for 20 years.

Benefits of Title Insurance:

-  Fraud/Forgery: If title is fraudulently transferred, the insured will be protected

-  Property taxes left unpaid by previous home owner.

-  Priority of certain construction liens.

-  Survey errors or illegibility of survey

-   Assist with known problems

-   Help you with negotiations when you have a problem with a defects in title.

Frank Elhami

Frank Elhami

Sales Representative
CENTURY 21 Innovative Realty Inc., Brokerage*
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