{"id":2987,"date":"2023-04-18T08:27:36","date_gmt":"2023-04-18T12:27:36","guid":{"rendered":"https:\/\/canadianlending.ca\/brokers\/?p=2987"},"modified":"2023-05-17T16:40:32","modified_gmt":"2023-05-17T20:40:32","slug":"title-fraud-and-title-insurance-benefits-for-borrowers","status":"publish","type":"post","link":"https:\/\/staging.canadianlending.ca\/brokers\/title-fraud-and-title-insurance-benefits-for-borrowers\/","title":{"rendered":"Title Fraud and Title Insurance \u2013 Benefits for Borrowers"},"content":{"rendered":"<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Recently, there have been headlines about identity theft, fraud and stealing homes. Title fraud occurs when the fraudster assumes the identity of the homeowner and then uses it to assume the title on the home, sell the property or obtain a mortgage on that property or other properties in the homeowner\u2019s name.<\/span><\/p>\n<h1><b>Protecting personal information<\/b><\/h1>\n<p><span style=\"font-weight: 400;\">Borrowers can take steps to protect themselves by safeguarding their personal information:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Keep personal information in a safe place.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Don\u2019t give out personal information on the phone, through the mail or online unless the borrower has initiated contact.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Give your Social Insurance Number (SIN) only when absolutely necessary. Ask if other identification can be used.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Check with the land registry office to ensure that the title of your home is in your name.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Consider purchasing title insurance.<\/span><\/li>\n<\/ul>\n<h1><b>Title insurance coverage<\/b><\/h1>\n<p><span style=\"font-weight: 400;\">While borrowers can take preventative measures to protect their personal information, they can also look at title insurance which protects the homeowner from a number of risks, including:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Someone trying to acquire the home through forgery or fraud;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Minor errors in the legal description of the property;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Unpaid utilities, mortgages, taxes, or condo maintenance fees;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Removal of existing structures if they violate zoning laws;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Legal claims by someone else on the property, such as property liens or construction liens from unpaid contractor bills;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Protection from another person having interests on the property;<\/span><\/li>\n<\/ul>\n<p><i><span style=\"font-weight: 400;\">Example:<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400;\">If the previous owner did not pay their contractor and there are construction liens on the property, title insurance would cover this. If a structure needs to be removed because it encroaches on a neighbour\u2019s property, title insurance will cover the removal costs.\u00a0<\/span><\/p>\n<h1><b>Title insurance exclusions<\/b><\/h1>\n<p><span style=\"font-weight: 400;\">The following issues are not covered by title insurance:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Zoning bylaw violations from home renovations or additions that the title insurance policy holder is responsible for;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Environmental hazards;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Known title defects that we revealed before the homeowner bought the property;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Wear and tear on the home and property, and;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Risks and damages that would be covered by homeowner\u2019s insurance.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">While title insurance can\u2019t protect a borrower from becoming a victim of fraud or title defect, it can protect them from many of the consequences and the resulting stress.<\/span><\/p>\n<p><b><i><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-2894\" src=\"https:\/\/canadianlending.ca\/brokers\/wp-content\/uploads\/sites\/3\/2023\/02\/768x500_FGBioBanner-16-Dec-22-jpg.webp\" alt=\"\" width=\"768\" height=\"500\" srcset=\"https:\/\/staging.canadianlending.ca\/brokers\/wp-content\/uploads\/sites\/3\/2023\/02\/768x500_FGBioBanner-16-Dec-22-jpg.webp 768w, https:\/\/staging.canadianlending.ca\/brokers\/wp-content\/uploads\/sites\/3\/2023\/02\/768x500_FGBioBanner-16-Dec-22-300x195.webp 300w\" sizes=\"(max-width: 767px) 89vw, (max-width: 1000px) 54vw, (max-width: 1071px) 543px, 580px\" \/><\/i><\/b><\/p>\n<p><b><i>Independent Opinion<\/i><\/b><\/p>\n<p><i><span style=\"font-weight: 400;\">The views and opinions expressed in this publication are solely and independently those of the author and do not necessarily reflect the views and opinions of any person or organization in any way affiliated with the author including, without limitation, any current or past employers of the author. While reasonable effort was taken to ensure the information and analysis in this publication is accurate, it has been prepared solely for general informational purposes. Any opinions, projections, or forward-looking statements expressed herein are solely those of the author. There are no warranties or representations being provided with respect to the accuracy and completeness of the content in this publication. Nothing in this publication should be construed as providing professional advice including investment advice on the matters discussed. The author does not assume any liability arising from any form of reliance on this publication. Readers are cautioned to always seek independent professional advice from a qualified professional before making any investment decisions.<\/span><\/i><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; Recently, there have been headlines about identity theft, fraud and stealing homes. Title fraud occurs when the fraudster assumes the identity of the homeowner and then uses it to assume the title on the home, sell the property or obtain a mortgage on that property or other properties in the homeowner\u2019s name. Protecting personal &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/staging.canadianlending.ca\/brokers\/title-fraud-and-title-insurance-benefits-for-borrowers\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Title Fraud and Title Insurance \u2013 Benefits for Borrowers&#8221;<\/span><\/a><\/p>\n","protected":false},"author":12,"featured_media":2988,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-2987","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Title Fraud and Title Insurance \u2013 Benefits for Borrowers - Brokers | Real Estate Secured Mortgage Investments<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Title Fraud and Title Insurance \u2013 Benefits for Borrowers - Brokers | Real Estate Secured Mortgage Investments\" \/>\n<meta property=\"og:description\" content=\"&nbsp; Recently, there have been headlines about identity theft, fraud and stealing homes. Title fraud occurs when the fraudster assumes the identity of the homeowner and then uses it to assume the title on the home, sell the property or obtain a mortgage on that property or other properties in the homeowner\u2019s name. Protecting personal &hellip; Continue reading &quot;Title Fraud and Title Insurance \u2013 Benefits for Borrowers&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/staging.canadianlending.ca\/brokers\/title-fraud-and-title-insurance-benefits-for-borrowers\/\" \/>\n<meta property=\"og:site_name\" content=\"Brokers | Real Estate Secured Mortgage Investments\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-18T12:27:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-17T20:40:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/staging.canadianlending.ca\/brokers\/wp-content\/uploads\/sites\/3\/2023\/04\/insurance-policy-2022-11-01-00-05-27-utc-Resized.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"802\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"it.team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"it.team\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/staging.canadianlending.ca\/brokers\/title-fraud-and-title-insurance-benefits-for-borrowers\/\",\"url\":\"https:\/\/staging.canadianlending.ca\/brokers\/title-fraud-and-title-insurance-benefits-for-borrowers\/\",\"name\":\"Title Fraud and Title Insurance \u2013 Benefits for Borrowers - Brokers | Real Estate Secured Mortgage Investments\",\"isPartOf\":{\"@id\":\"https:\/\/staging.canadianlending.ca\/brokers\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/staging.canadianlending.ca\/brokers\/title-fraud-and-title-insurance-benefits-for-borrowers\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/staging.canadianlending.ca\/brokers\/title-fraud-and-title-insurance-benefits-for-borrowers\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/staging.canadianlending.ca\/brokers\/wp-content\/uploads\/sites\/3\/2023\/04\/insurance-policy-2022-11-01-00-05-27-utc-Resized.png\",\"datePublished\":\"2023-04-18T12:27:36+00:00\",\"dateModified\":\"2023-05-17T20:40:32+00:00\",\"author\":{\"@id\":\"https:\/\/staging.canadianlending.ca\/brokers\/#\/schema\/person\/45c311c638bda9735b565b8f8195b576\"},\"breadcrumb\":{\"@id\":\"https:\/\/staging.canadianlending.ca\/brokers\/title-fraud-and-title-insurance-benefits-for-borrowers\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/staging.canadianlending.ca\/brokers\/title-fraud-and-title-insurance-benefits-for-borrowers\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/staging.canadianlending.ca\/brokers\/title-fraud-and-title-insurance-benefits-for-borrowers\/#primaryimage\",\"url\":\"https:\/\/staging.canadianlending.ca\/brokers\/wp-content\/uploads\/sites\/3\/2023\/04\/insurance-policy-2022-11-01-00-05-27-utc-Resized.png\",\"contentUrl\":\"https:\/\/staging.canadianlending.ca\/brokers\/wp-content\/uploads\/sites\/3\/2023\/04\/insurance-policy-2022-11-01-00-05-27-utc-Resized.png\",\"width\":1200,\"height\":802},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/staging.canadianlending.ca\/brokers\/title-fraud-and-title-insurance-benefits-for-borrowers\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/staging.canadianlending.ca\/brokers\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Title Fraud and Title Insurance \u2013 Benefits for Borrowers\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/staging.canadianlending.ca\/brokers\/#website\",\"url\":\"https:\/\/staging.canadianlending.ca\/brokers\/\",\"name\":\"Brokers | Real Estate Secured Mortgage Investments\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/staging.canadianlending.ca\/brokers\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/staging.canadianlending.ca\/brokers\/#\/schema\/person\/45c311c638bda9735b565b8f8195b576\",\"name\":\"it.team\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/staging.canadianlending.ca\/brokers\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/6696addd477c8a3d1e8d5eb72b05a0dd?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/6696addd477c8a3d1e8d5eb72b05a0dd?s=96&d=mm&r=g\",\"caption\":\"it.team\"},\"url\":\"https:\/\/staging.canadianlending.ca\/brokers\/author\/it-team\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Title Fraud and Title Insurance \u2013 Benefits for Borrowers - Brokers | Real Estate Secured Mortgage Investments","robots":{"index":"noindex","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"og_locale":"en_US","og_type":"article","og_title":"Title Fraud and Title Insurance \u2013 Benefits for Borrowers - Brokers | Real Estate Secured Mortgage Investments","og_description":"&nbsp; Recently, there have been headlines about identity theft, fraud and stealing homes. Title fraud occurs when the fraudster assumes the identity of the homeowner and then uses it to assume the title on the home, sell the property or obtain a mortgage on that property or other properties in the homeowner\u2019s name. Protecting personal &hellip; Continue reading \"Title Fraud and Title Insurance \u2013 Benefits for Borrowers\"","og_url":"https:\/\/staging.canadianlending.ca\/brokers\/title-fraud-and-title-insurance-benefits-for-borrowers\/","og_site_name":"Brokers | Real Estate Secured Mortgage Investments","article_published_time":"2023-04-18T12:27:36+00:00","article_modified_time":"2023-05-17T20:40:32+00:00","og_image":[{"width":1200,"height":802,"url":"https:\/\/staging.canadianlending.ca\/brokers\/wp-content\/uploads\/sites\/3\/2023\/04\/insurance-policy-2022-11-01-00-05-27-utc-Resized.png","type":"image\/png"}],"author":"it.team","twitter_card":"summary_large_image","twitter_misc":{"Written by":"it.team","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/staging.canadianlending.ca\/brokers\/title-fraud-and-title-insurance-benefits-for-borrowers\/","url":"https:\/\/staging.canadianlending.ca\/brokers\/title-fraud-and-title-insurance-benefits-for-borrowers\/","name":"Title Fraud and Title Insurance \u2013 Benefits for Borrowers - Brokers | Real Estate Secured Mortgage Investments","isPartOf":{"@id":"https:\/\/staging.canadianlending.ca\/brokers\/#website"},"primaryImageOfPage":{"@id":"https:\/\/staging.canadianlending.ca\/brokers\/title-fraud-and-title-insurance-benefits-for-borrowers\/#primaryimage"},"image":{"@id":"https:\/\/staging.canadianlending.ca\/brokers\/title-fraud-and-title-insurance-benefits-for-borrowers\/#primaryimage"},"thumbnailUrl":"https:\/\/staging.canadianlending.ca\/brokers\/wp-content\/uploads\/sites\/3\/2023\/04\/insurance-policy-2022-11-01-00-05-27-utc-Resized.png","datePublished":"2023-04-18T12:27:36+00:00","dateModified":"2023-05-17T20:40:32+00:00","author":{"@id":"https:\/\/staging.canadianlending.ca\/brokers\/#\/schema\/person\/45c311c638bda9735b565b8f8195b576"},"breadcrumb":{"@id":"https:\/\/staging.canadianlending.ca\/brokers\/title-fraud-and-title-insurance-benefits-for-borrowers\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/staging.canadianlending.ca\/brokers\/title-fraud-and-title-insurance-benefits-for-borrowers\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/staging.canadianlending.ca\/brokers\/title-fraud-and-title-insurance-benefits-for-borrowers\/#primaryimage","url":"https:\/\/staging.canadianlending.ca\/brokers\/wp-content\/uploads\/sites\/3\/2023\/04\/insurance-policy-2022-11-01-00-05-27-utc-Resized.png","contentUrl":"https:\/\/staging.canadianlending.ca\/brokers\/wp-content\/uploads\/sites\/3\/2023\/04\/insurance-policy-2022-11-01-00-05-27-utc-Resized.png","width":1200,"height":802},{"@type":"BreadcrumbList","@id":"https:\/\/staging.canadianlending.ca\/brokers\/title-fraud-and-title-insurance-benefits-for-borrowers\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/staging.canadianlending.ca\/brokers\/"},{"@type":"ListItem","position":2,"name":"Title Fraud and Title Insurance \u2013 Benefits for Borrowers"}]},{"@type":"WebSite","@id":"https:\/\/staging.canadianlending.ca\/brokers\/#website","url":"https:\/\/staging.canadianlending.ca\/brokers\/","name":"Brokers | Real Estate Secured Mortgage Investments","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/staging.canadianlending.ca\/brokers\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/staging.canadianlending.ca\/brokers\/#\/schema\/person\/45c311c638bda9735b565b8f8195b576","name":"it.team","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/staging.canadianlending.ca\/brokers\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/6696addd477c8a3d1e8d5eb72b05a0dd?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/6696addd477c8a3d1e8d5eb72b05a0dd?s=96&d=mm&r=g","caption":"it.team"},"url":"https:\/\/staging.canadianlending.ca\/brokers\/author\/it-team\/"}]}},"_links":{"self":[{"href":"https:\/\/staging.canadianlending.ca\/brokers\/wp-json\/wp\/v2\/posts\/2987"}],"collection":[{"href":"https:\/\/staging.canadianlending.ca\/brokers\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.canadianlending.ca\/brokers\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.canadianlending.ca\/brokers\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.canadianlending.ca\/brokers\/wp-json\/wp\/v2\/comments?post=2987"}],"version-history":[{"count":5,"href":"https:\/\/staging.canadianlending.ca\/brokers\/wp-json\/wp\/v2\/posts\/2987\/revisions"}],"predecessor-version":[{"id":2993,"href":"https:\/\/staging.canadianlending.ca\/brokers\/wp-json\/wp\/v2\/posts\/2987\/revisions\/2993"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/staging.canadianlending.ca\/brokers\/wp-json\/wp\/v2\/media\/2988"}],"wp:attachment":[{"href":"https:\/\/staging.canadianlending.ca\/brokers\/wp-json\/wp\/v2\/media?parent=2987"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.canadianlending.ca\/brokers\/wp-json\/wp\/v2\/categories?post=2987"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.canadianlending.ca\/brokers\/wp-json\/wp\/v2\/tags?post=2987"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}