Title Insurance In Canada
Most first time Canadian home buyers do not realize that title insurance exists or what it is actually for. In Canada title insurance is something that is offered to shoppers as it gives them added protection when buying their largest investment. While there is a fee for title insurance in Canada it can often lower your overall legal expenses as you will receive discounts in other areas.
If you decide to purchase title insurance on your new home it will protect you against zoning and survey issues as well as a number of other title related problems. Asking your lawyer about title insurance may also save you on legal expenses that you will incur when you are purchasing your new home. The reason that title insurance can actually reduce your overall legal fees is that it saves the lawyer a lot of time doing searches that will not be needed if you have title insurance in Canada.
The other thing you will need to keep in mind when you are considering title insurance is that you will still need a lawyer to complete your real estate transactions should you decide to purchase it. This is because only a lawyer is eligible to sell title insurance, and you will require a lawyer to review your purchase and sale agreement, and any other legal work involved in the purchase or sale of a home. To find a local real estate lawyer in your area feel free to use our legal database located here.
