The TitlePLUS Program & Title Insurance
LAWPRO video: Does your lifestyle suit a condo?
Over the last few years, LAWPRO has undertaken a public awareness campaign to help consumers better understand what lawyers do and how to get the most out of the lawyer-client relationship. The campaign includes articles and videos. The material helps people understand when and how to contact a lawyer, the essential role lawyers play in… Read More »Categories: Real Estate, The TitlePLUS Program & Title Insurance
Fraud coverage: Some title insurance policies may not protect your lender client – and may leave you in the cross-hairs
Fraudulent real estate transactions arising out of identity theft continue to be a concern as many real estate lawyers fall victim to unscrupulous imposter clients. Identity fraud has become increasingly difficult to detect as the quality of false identification and other documents improves. Further, fraudsters enlist the assistance of others to play the role of… Read More »Categories: Real Estate, The TitlePLUS Program & Title Insurance
Title insurance policies are like a box of chocolates – No two policies are the same
“The lawyer should be knowledgeable about title insurance and discuss with the client the advantages, conditions, and limitations of the various options and coverages generally available to the client through title insurance,” states Rule 2.02(10) of the Rules of Professional Conduct. This obligation was brought home in a recent malpractice case where the lawyer did… Read More »Categories: The TitlePLUS Program & Title Insurance, Real Estate
Warning re: Claims exposure where private mortgage advance goes to third party
[The following is the text of a LAWPRO alert sent October 7, 2014. This post mirrors the alert, but includes samples of the new exemption clauses we have seen in claims files.] LAWPRO has become aware of a new exception to coverage in certain title insurance policies which could expose real estate practitioners to claims… Read More »Categories: Real Estate, The TitlePLUS Program & Title Insurance, Fraud Prevention
What 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 Insurance