Understanding Title Insurance
How often do you hear someone talk about Title Insurance?
If you’re like most, the answer is rarely to never. But when you’re buying a home, it’s an important part of the process. It makes sense to take time to understand it.
Title insurance was introduced to Canadians in the 1990s. With the sale of these policies, lawyers and notaries were able to stop conducting searches to ensure there were no impediments to the buyer’s clear ownership of the home to be purchased, because the insurance policy would cover that. But there is a lot more to title insurance than you might think.
To learn more, CPBH consulted Tim Hyde, a retired Ontario lawyer and title insurance executive.
In the linked article, Tim explains what title insurance is, what it covers, what it costs and more. He takes a close look at what new home buyers should know and what could be involved in a claim.
CPBH always supports being “armed with info” when going through the purchasing process. The opportunity to do that on title insurance is at the following link: