The TitlePLUS Program & Title Insurance
What do Canadian homeowners know about title insurance?
Communities across Canada depend on local lawyers for reliable access to justice. These lawyers not only act on real estate deals, but also draft wills, incorporate companies, advise on family law situations and provide information and direction on dealing with complex legal issues. LAWPRO views the future of the real estate bar as a strategic,… Read More »
Categories: The TitlePLUS Program & Title Insurance, LAWPRO Errors and Omissions CoverageWhat do title insurers expect from lawyers?
Still relatively new in Canada, title insurance is not fully understood by many consumers. Even certain less-sophisticated lenders lack detailed knowledge of the product. The responsibility for explaining title insurance to those who purchase it – and for supporting insureds in obtaining coverage that suits their needs – falls squarely on lawyers’ shoulders. Lawyers are… Read More »
Categories: Real Estate, The TitlePLUS Program & Title InsuranceDon’t worry about minor differences in title insurance policy terms – if you recommend TitlePLUS insurance
You know that it is important to review the coverages, exclusions and specific exceptions in title insurance policies with clients. There are, of course, differences in standard policy coverages and it is your responsibility to arrange the appropriate coverage for your client, based on her or his individual transaction. If a problem arises after closing… Read More »
Categories: The TitlePLUS Program & Title InsuranceDoes title insurance bring benefits to the primary professional liability program?
We all know that notwithstanding the rise of title insurance in Ontario, claims arising from real estate practice are still a large (and in many years, the largest) exposure for the primary professional liability program that LAWPRO provides for the Law Society’s lawyer-licensees (the “E&O program”). We have explored why in other articles and settings…. Read More »
Categories: Real Estate, The TitlePLUS Program & Title Insurance, LAWPRO Errors and Omissions CoverageTitle insurance is not an autopilot licence
Title insurance is one tool that purchasers can employ to reduce some of the risks associated with a real estate purchase. This may not sound like “news” meriting coverage in a publication for lawyers. However, claims experience here at LAWPRO suggests that the function of title insurance is not fully understood by the bar –… Read More »
Categories: Real Estate, The TitlePLUS Program & Title InsuranceCommercial Title Insurance: Don’t let big picture thinking stop you from caring about the details
Title insurance can be a useful tool in commercial real estate transactions as policies usually provide coverage that will shield buyers from risks that can affect ownership and/or future marketability of a property. While it is tempting to assume that the coverage afforded under a commercial title insurance policy would be similar to that of… Read More »
Categories: Real Estate, The TitlePLUS Program & Title Insurance2015 Annual Review issue of LAWPRO Magazine
Stable. Advice. Trustworthy. Security. Professional. Coverage. The words that appear on the cover of the May 2016 issue of LAWPRO Magazine describe how LAWPRO served its insureds in 2015. An insurance company can call itself a success if it provides stability in an unpredictable environment. Insurance allows the economy to grow by providing a place… Read More »
Categories: The TitlePLUS Program & Title Insurance, LAWPRO Errors and Omissions CoverageLAWPRO Magazine archive: Title insurance – separating fact from fiction
In just over a decade, title insurance has gone from a little-known development to a mainstay of real estate practice. In Ontario alone, title insurance is a $100 million a year industry: Between 1999 and 2009, the revenue of the major title insurers of Ontario grew 534 per cent. Not surprisingly it is estimated that… Read More »
Categories: Real Estate, The TitlePLUS Program & Title Insurance