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Home Buying Information
How TitlePLUS title insurance could have helped
- Six months after she bought her home, Susan S. was slapped with a court order requiring her to pay $1,500 to move a garage that sat too close to her neighbour's property line. If she had bought a TitlePLUS policy, the insurance company would have paid to move the garage - and saved Susan $1,500 and more headaches in the future.
- After closing, a bank representative knocked on the Browns' door and told them they didn't own the property they had just bought. No one knew that the previous owner had fraudulently discharged the $160,000 mortgage on their house. When the bank said it wanted to repossess, the Browns took the matter to court and won. Unfortunately it cost them $40,000 in legal fees to defend their title. Had they used a TitlePLUS policy, the insurer would have paid the full legal bill and saved them the inconvenience of going to court.
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