te

Α COMPARISON

OF

MEΤHODS

FOR ASSURING

ΤΙΤLΕ

(MUSΤ ACCOMPANY ΤΗΕ “WORKING WIΤH Α LAWYER WHEN Υου BUY Α ΗΟΜΕ” ΒΟΟΚLΕΤ.)

ISSUE

SOLICIΤOR’S ΟΡΙΝΙΟΝ ΟΝ ΤΙΤΙΕ

ΤΙΤΙΕ INSURANCE

TIΤΙEPLUS@

WHAΤ SERVICES WILL

Home buyer’s lawyer will:

ΜΥ LAWYER PROVIDE?

• undertake exlensive searches and inquiries relaled 10 assuring buyer of good lίΙlθ;

• acl as γουΓ advisor οπ lille-relaled and olher legal issues affecling home purchase;

• facililale Ihe closing process,

• provide α qualified LθΙΙθΓ of Ορίπίοπ οπ whelher buyer has good and

• αρρlγ, οπ home buyer’s behalf, for lίΙlθ insurance policy which replaces

• use soflware-based TillePLUS syslem 10 αρρlγ, οπ home buyer’s behalf, for

markelable lίΙlθ 10 propeήy, as described more fully ίπ Ihis booklel.

lawyer’s Ορίπίοπ οπ ΤίΙlθ.

TillePLUS insurance policy, which replaces lawyer’s Ορίπίοπ οπ ΤίΙlθ.

WHAΤ DO Ι ΡΑΥ FOR AND

Home buyer pays:

Home buyer pays:

Home buyer pays:

HOW MUCH DOES ΙΤ COSΤ?

• legal fees;

• legal fees;

• legal fees;

• disbursemenls lawyer has 10 ραγ 10 do Ihe required searches and inquiries.

• disbursemenls, including lίΙlθ insurance policy premium, which varies for

• disbursemenls, including TillePLUS policy premium, which varies wilh price

differenl policies.

of home.

• ονθΓαl1 cosl may be less Ihan cosl of Ορίπίοπ οπ ΤίΙlθ, depending οπ searches required.

WHAΤ KIND OF COVERAGE OR

Through lawyer’s malpraclice insurance, home buyer is covered if lawyer:

Home buyer has coverage for following Iypes of issues (which ναΓγ wilh policies)

Home buyer has coverage for following issues defined ίπ Ihe TillePLUS policy,

PROΤECΤΙON DO Ι HAVE?

• makes negligenl mislake(s) ΟΓ omils 10 do somelhing Ihal affecls Ihe home

if problem exisls αl lime of purchase:

if problem exisls αl lime of purchase:

buyer’s lίΙlθ 10 Ihe ΡΓΟΡθήγ;

• lille-relaled problems, such as conflicling ownership inleresls ίπ Ihe propeήy;

• lille-relaled problems, such as conflicling ownership inleresls ίπ Ihe propeήy; old

• was negligenl ίπ legal serνices provided (for example, provided incorrecl

old ΟΓ improper mortgages; liens from judgmenls, special assessmenls, Γθαlly

ΟΓ improper morlgages, liens from judgmenls, special assessmenls for local

advice οπ mortgage maIIers).

lαχ arrears ΟΓ public UΙίlίΙγ arrears; improper documenls; certain righls arising

improvemenls, Γθαlly lαχ arrears ΟΓ public UΙίlίly arrears; improper documenls;

from lenancies, conlracls, oplions, ΟΓ righls of possession by α spouse; and

certain righls arising from lenancies, conlracls, oplions, ΟΓ righls of possession

Νο coverage for evenls occurring afler closing.

απγ lίΙlθ defecls ποl specifically excluded by policy;

by α spouse; and απγ lίΙlθ defecls ποl specifically excluded by policy;

• regulalory compliance issues, such as certain breaches of reslriclive covenanls,

• regulalory compliance problems, such as cerlain breaches of reslriclive

encroachmenls, selback deficiencies, work orders and building permil deficiencies;

covenanls, nolices of νίοlαlίοπ, work orders, encroachmenls, building permil

• inabilily 10 lίνθ ίπ home as α single residenlial dwelling under zoning by-Iaws;

problems, and selback deficiencies;

• absence of legal righl of access 10 home;

• inabilily 10 lίνθ ίπ home as α single residenlial dwelling under zoning by-Iaws;

• ίπ some policies, adverse circumslances affecling Ihe land which would have

• access-relaled problems, such as Ihe absence of α legal righl of access 10 home

been disclosed by α local aulhorily search.

ΟΓ inabilily 10 use certain easemenls ΟΓ righls-of-way ονθΓ neighbour’s propeήy.

Generally πο coverage for legal services provided by lawyer. *

Full coverage for legal serνices provided by lawyer handling purchase, including

αll advisory services.

Home buyer may be able 10 sue lawyer for negligence Ihrough lawyer’s

malpraclice insurance.

There is oflen limiled coverage ίπ Ihe policy for posl-closing evenls.