Title Insurance

Title Insurance #442

Legally Speaking

By Jennifer Clee Occasionally, claims are reported to the Real Estate Errors and Omissions Insurance Corporation (REEOIC) involving complaints by buyers against licensees which might not have been made if those buyers had bought title insurance. Title insurance is an insurance policy provided by title insurance companies that protects residential or commercial property owners and/or

Title Insurance – Part 3 of 3 #323

Legally Speaking

By Gerry Neely B.A. LL.B Some banks and credit unions are now requiring title insurance for the refinancing of consumer mortgages. This, according to a bank spokesperson, provides for a more efficient system at less cost. From the lender’s prospective, the benefits of title insurance coverage include: removing concerns over negligence; making the insurance no-fault;

Title Insurance – Part 2 of 3 #322

Legally Speaking

By Gerry Neely B.A. LL.B A lender’s policy, whether residential or commercial, contains the basic risks plus a broader coverage than is provided in the buyer’s policies, referred to in Column 321. Those risks include, interesting enough, the invalidity of the mortgage due to usury laws, encroachments on to or from the insured lands. These

Title Insurance – Part 1 of 3 #321

Legally Speaking

By Gerry Neely B.A. LL.B We in British Columbia take pride in our Land Title registration system because we can satisfy ourselves as to the state of title with a 60 second online search, instead of waiting a week or so for a title search, as in the State of Washington. However, our system does