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| | TITLE INSURANCE
We use Stewart Title on most purchase
transactions
 | Title insurance offers benefits of insurance for certain risks and
usually, lower net closing costs. |
When are the benefits of title insurance?
| Title insurance is an alternative to a lawyer's opinion that
protects purchasers and lenders from the risks inherent in real
estate transactions. |
| Title insurance is a means of insuring homeowners and lenders
against loss or damage sustained as a result of covered title risks,
many problems that would be identified by an up-to date survey and
non-compliance with applicable municipal by-laws. |
| Some common examples of covered risks include: liens,
encumbrances, tax arrears, work orders, fraud, forgery and
impersonation. |
What is the cost of title insurance?
1. Title insurance premiums vary depending on the price and type of
home.
2. On a resale freehold home with one mortgage, where the price
is between $200,001 and $500,000, the net premium is $251.
3. Premiums are lower where the price is less than $200,000 and
higher, where the premium is greater than $500,000. New housing premiums
are slightly less. Condominium premiums are also lower.
For full particulars, please visit Stewart Title at www.stewart.ca.
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David A. Ball Law Firm