Lock Title For Free

Home title theft is a type of real estate fraud where someone uses a homeowner's personal information to forge a deed and steal their home. The thief may apply for a home equity loan or line of credit in the homeowner's name and then fail to make payments?exposing the owner to foreclosure and credit damage.

How much does title insurance cost in Ontario? When you invest in title insurance, you will only pay an upfront fee through your lawyer. In Ontario, it will cost around $200-$500 and is often purchased when you buy a property or home. The one-time premium will cover the insured property as long as you own it.

Title ?lock? is a service that monitors the deed to your home to see if it has been transferred out of your name. The service will notify you if this happens ? after it has already happened.

Title insurance is paid for via a one-time fee, or premium, that provides coverage for as long as you own the property. Generally speaking, title insurance covers you in the event of: Title fraud or forgery. Encroachment or survey disputes. For example, if your neighbour builds a fence on your property.

While Home Title Lock can let you know that something has happened, there is no financial protection against real estate fraud. With owner's title insurance, however, there's financial protection from your insurer.

Title insurance is not a requirement in Ontario. You should discuss whether you need title insurance with your lawyer, title insurance company or insurance agent/broker. They can help you fully understand what type of protection title insurance can provide.

Here's our verdict. If you are looking for identity theft protection, Home Title Lock is going to be too simplistic for you. This service only focuses on monitoring the title to your home or property, looking for signs of potential deed fraud or title theft.