We recommend that you purchase title insurance. Title insurance covers some risks inherant in real estate transactions, such as:

• Liens, encumbrances, or defects in the title to a property
• Tax arrears
• Defects that would have been revealed by an accurate, up-to-date survey
• Forced removal of an existing structure, other than a boundary wall or fence
• Work orders, zoning or set back non-compliance/deficiencey
• Another party claiming an interest in the property
• Fraud, forgery, duress, incometence, incapacity or impersonation
• Unmarketability, which allows another person to refuse to perform a contract to purchase, lease or make a mortgage

Title insurance can be purchased for a one-time fee, payable when the property is purchased. Depending on the premium you pay, it protects your lender only, or both you and your lender. A title insurance company issues the policy, and the policy remains in effect for as long as you own the property. Note that a new policy may be required if you change mortgage lenders. For more information go to www.firstcanadiantitle.com. If you would like to order title insurance, please call to obtain a quote.

This information is being provided to assist in the planning of a home purchase. It is not intended to be legal advice and the information set out may not be applicable in all cases. In some situations, a purchaser may be required to pay for other additional expenses such as a second mortgage, an assignment of rents, power of attorney, or independent legal advice.