Title Insurance
When Title insurance was first introduced in Canada it seemed to cover a property from “sidewalk to fence.” It’s still an important consideration, but before you purchase, compare policies to find out what’s covered and be aware of possible exclusions, which may include:
- Known title defects (that were revealed before the property was purchased);
- Environmental hazards (e.g. soil contamination);
- Problems that would only be discovered by a new survey or inspection of your property (e.g. the lot size is smaller than originally thought);
- Matters that are not listed in public records (e.g. unrecorded liens and encroachments); and
- Zoning bylaw violations from changes, renovations or additions to the property.
When Title insurance was first introduced in Canada it seemed to cover a property from “sidewalk to fence.” It’s still an important consideration, but before you purchase, compare policies to find out what’s covered and be aware of possible exclusions, which may include:
- Known title defects (that were revealed before the property was purchased);
- Environmental hazards (e.g. soil contamination);
- Problems that would only be discovered by a new survey or inspection of your property (e.g. the lot size is smaller than originally thought);
- Matters that are not listed in public records (e.g. unrecorded liens and encroachments); and
- Zoning bylaw violations from changes, renovations or additions to the property.
The trademarks REALTORS®, REALTOR® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of Services provided by real estate professionals who are members of CREA.
All information displayed is believed to be accurate but is not guaranteed to be so and should be independently verified. There are no warranties or representations made. Not intended to solicit properties or buyers currently engaged in a Buyer Agency, or Listing Agreement.
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