On completion of the purchase of the property, as the buyer, you will need your lawyer to help you with your Title Insurance search in Vaughan. It is a policy that will provide the title of the property with security for many issues that will relate it. It assures the property of defaults.
As per the stipulation of the Law Society of Ontario, your lawyer is tasked with the duty of enlightening you on title insurance and how it may benefit you. You lawyer will inform you of the various Title Insurance products that are available. Providing you with insight on the options that offer you the best deal by protecting the property before and after purchase.
Once you get Title Insurance, you will still need the services of legal counsel to provide you with access to relevant documents that only he or she can obtain. You won’t incur additional charges for this service as the cost is included in the legal and disbursement fees that your lawyer will charge you.
However, since this is an insurance policy, you will need to buy it. It is usually a reasonable amount and may vary from one municipality to another. The charge you will incur is calculated when you add the property value and mortgage details.
If you already own a home, you can still get a Title Insurance policy that will be based on the value your property at the time of purchase. Owning a Title Insurance Policy in Mississauga will protect from any possible purchase fraud and issues related to the title.?