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[0:00] OPENING MUSIC
[00:11] Welcome to a new episode of “Just A Minute” by Landmark Law. Today’s episode is presented to you by Selina to help educate our listeners on various legal scenarios.
[0:20] BELL CHIME
[00:25] This week’s topic is on The Ins and Outs of Title Insurance: What’s Covered and What’s Not.
[00:30] When it comes to the single largest investment most of us will make – buying a home – you want to make sure you’ve protected that investment to the best of your ability.
[00:39] One option to consider is title insurance – a cost-effective protection that shields homebuyers from many of the major risks that can affect the ownership and/or future marketability of title to a property.
[00:51] This insurance shields buyers from unexpected issues, such as unpaid taxes, building code issues, or inaccurate property boundaries, and can also be essential for condominium owners facing issues like purchasing a different unit than expected.
[01:06] This offers fraud coverage and can help in legal disputes, covering the costs of defending ownership claims or restoring the title to the property.
[01:14] However, certain exclusions exist, including native land claims, environmental hazards, or issues agreed upon in the purchase agreement.
[01:23] Title insurance does not cover non-legal problems, such as appliance breakdowns or home maintenance issues. It is vital to review the policy's terms and conditions and consult with your real estate lawyer to understand coverage specifics.
[01:37] Please call or visit our website at landmarklaw.ca for any help on your real estate, estate, and corporate legal matters.
[1:39] CLOSING MUSIC