Monday, March 28, 2011

Title Insurance

Title insurance is an insurance policy that offers compensation for property owners and their lenders from losses relating to the title on the property. 

The policy covers areas such as liens, encroachments, title fraud, survey errors, and other issues relating to title that may prevent you from having unencumbered ownership of the property and can have an effect on your future ability to sell your home.

Although not mandatory in Ontario, Title insurance is a one-time fee usually presented as an option to purchase when you buy a home.  Your lawyer’s office normally takes care of this for you, with your approval.  The policy protects you for as long as you own your property and can also cover your legal expenses relating to restoring title as well.

Existing home owners can also purchase Title insurance.  Those interested in Title Insurance are recommended to speak with their Lawyer (or Insurance Company) to get all of the facts so that they are fully aware of the protection Title insurance can provide, what losses are covered as well as excluded in the policy, and to determine whether they need this coverage or not.

For further information on Title Insurance visit the Financial Services Commission of Ontario (Ontario’s insurance regulatory agency) at

Feel free to contact LJ for all of your Real Estate questions or needs at

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