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Title insurance

Planning to do real estate work? A primer on title insurance and the TitlePLUS program (2018)

If you’re planning to do any real estate work when you go into practice, you’ll soon hear about a resource used by many real estate practitioners – title insurance. It’s a type of insurance coverage that lawyers across Canada are telling their clients about to help protect them against some typical problems that might crop… Read More »

Categories: 2018 Student Issue 6, Areas of Law, Articles, Content Type, LAWPRO Magazine, LAWPRO Magazine Article Type, Real Estate, Student, Title insurance, TitlePLUS, Topics

Recognizing the red flags of real estate scams involving corporate identity theft

magnifying glass looking at puzzle

Frauds targeting real estate lawyers are getting ever more sophisticated. LAWPRO has seen several attempted frauds involving corporate identity theft. The properties involved may be commercial or residential, but are always owned by a corporation. How these frauds work These frauds start with the fraudsters changing or stealing the identity of corporate property owners. This… Read More »

Categories: 2018 February Top Legal Disruptions, Areas of Law, Articles, Content Type, Fraud, LAWPRO Magazine, LAWPRO Magazine Article Type, Malpractice Errors, Real Estate, Title insurance, TitlePLUS, Topics

Can’t review your lender client’s draft title policy?

man reviewing document

The Residential Real Estate Practice Guidelines published by the Law Society state that a lawyer should, before accepting a title insurance policy on behalf of a client, review the draft policy or binder/commitment to identify any inaccuracies or omissions, and to ensure that the promised coverage is as expected and meets the client’s needs. But… Read More »

Categories: Areas of Law, Real Estate, Title insurance

Commercial title insurance: What you need to know

Woman looking at her phone

A discussion regarding title insurance (or any insurance for that matter) requires the understanding that it is insurance. It does not fix problems, it underwrites risks. As lawyers, it is incumbent upon us to be able to convey this clearly to our clients, whether lenders or more likely borrowers/purchasers. In the days of yore, the… Read More »

Categories: 2017 August Managing Change, Areas of Law, Articles, Content Type, Insurance Business, Real Estate, Title insurance

“I will be out of the office…forever” and I don’t want to deal with claims

Are you thinking of changing careers or law firms, selling the practice, or retiring? As other articles in this issue have highlighted, even after you retire, malpractice claims can engage your LawPRO E&O run-off coverage. Real estate lawyers should consider TitlePLUS title insurance since claims covered under the Legal Service Coverage¹ in a TitlePLUS policy… Read More »

Categories: 2017 August Managing Change, Articles, Real Estate, Title insurance, TitlePLUS

Using Title Insurance Safely Checklist

Title insurance plays an important role in real estate transactions. each transaction presents a different set of circumstances and risks. The Using Title Insurance Safely checklists keeps you on top of the variety of issues to consider when your are obtaining a title insurance policy for your client. The checklist provides further details on the… Read More »

Categories: Checklist, Title insurance

Don’t worry about minor differences in title insurance policy terms – if you choose the right policy

We know that it is important to review the coverages, exclusions and specific exceptions in title insurance policies with clients. However, with respect to standard policy coverages (provided they are not affected by any property-specific exceptions), lawyers should be aware that the nature of Legal Service Coverage in TitlePLUS policies makes differences in these coverages… Read More »

Categories: 2015 September Blue Sky, Articles, Real Estate, Title insurance, TitlePLUS

Lenders’ lawyers: beware of fake title insurance policies

While relatively rare, LAWPRO has seen instances of fake title insurance policies. Kathleen Waters, LAWPRO’s President & CEO, touched on the subject at the Law Society’s recent Real Estate Summit. An example of a situation in which a policy has been discovered to be fake is where the lender insured has asked that the borrower’s… Read More »

Categories: Areas of Law, Articles, Content Type, Real Estate, Title insurance

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: Areas of Law, Articles, Communications Errors, Content Type, Inadequate Investigation, Real Estate, Title insurance, Topics
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