EAST
Central Administration
2788 boul., St-Joseph Blvd.
Orléans, Ontario
K1C 1G5
613-837-7880
fax 613-837-7664
SOUTH
Capital Corporate Centre
9 Antares Drive
Ottawa, Ontario
K2E 7V5
WEST
Gateway Executive Offices
Fourth Floor, 300 March Road
Kanata, Ontario
K2K 2E2
Email:
mail@jacquesrobert.com
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Purchasing a home is an exciting venture and after making the choice to do so , you want the peace of mind knowing that your investment is protected.
Title Insurance has been used in the United States for many years and recently has gained popularity in Ontario. Essentially, it is an insurance policy issued by an insurance company to provide broad coverage against many risks when buying a home, for example, title problems, outstanding work orders, zoning violations, etc. The premium is only paid once and it covers the property for as long as the registered owners or their heirs own the property. At the Jacques Robert Closing Centers, subject to credit approval, we use title insurance on every purchase or refinance transaction to insure that you are protected.
Traditionally, the Purchaser's lawyer would review a building location survey for a property to verify many items. With title insurance, these possible issues would be covered and a building location survey is no longer required. If there were any problems, a claim would be made with the title insurance company and if it is covered, they will either pay to fix the problem or compensate the Purchaser for the full value of the title insurance policy (ie. the value of the home). A simple example could be if a deck were to sit on the property line, the title insurance may pay to have it moved. The title insurance company will also pay for any legal costs associated with making the claim and defending the title.
Currently in Ontario, you have the choice of using one of three title insurance companies. Our office routinely completes transactions using all three and will choose the best company for you. Please take the opportunity to browse through their websites at your convenience.
First Canadian
Stewart Title Insurance
Title Plus
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