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NO HOMEOWNER IS SAFE FROM REAL ESTATE FRAUD
January 08, 2024
FCT title insurance for existing owners —
Why do you need it?
Title fraud can strike anyone at any time! Existing owner title insurance is a legal document that proves your property rights. It helps protect your investment against several problems, including real estate fraud through identity theft. What would you do if one day you found out that your house was no longer in your name? In the case of title theft, FCT covers the insured’s legal fees and compensates the insured for the actual loss.
With all the data breaches we hear about in the media and with criminals having access to better and better technology, title fraud is a real risk. It has become a problem all over North America! Did you know that the dominant trend is the fraudster and the victim knowing each other? Private lenders and homeowners who have paid off their mortgage are the most common targets.
TITLE INSURANCE DOES NOT ELIMINATE THE RISK OF FRAUD, BUT IT DOES PROTECT YOU AGAINST LOSSES IF YOU HAVE A PROBLEM RELATED TO THE TITLE OF YOUR PROPERTY.
FCT TITLE INSURANCE. 34 RISKS COVERED, INCLUDING:
- Real estate fraud through identity theft
- Non-compliance with zoning regulations
- Municipal tax arrears from a former owner
- Encroachment by structures on neighbouring properties
- Construction carried out without a permit
FCT TITLE INSURANCE. SOME ADVANTAGES:
- A policy that covers 34 risks
- An affordable one-time premium for coverage for as long as you own your home
- Title insurance can also protect you after selling your property!
- No deductible when making a claim, and several claims can be filed
- The existing owner policy includes a 200% inflation cushion.
For example, a property worth $500,000 is covered up to a maximum of $1,000,000
REAL ESTATE FRAUD IS CLOSER THAN YOU THINK...
Check out these articles published on Ici Radio-Canada and in Le Journal de Montréal on November 1, 2023:
- 17 arrests as Montreal real estate fraud network dismantled | Radio-Canada.ca
- https://www.journaldemontreal.com/2023/11/01/fraude-immobiliere-de-5-m--le-spvm-decapite-un-important-reseau
Also read:
- Organized crime has mortgaged or sold at least 30 homes without the knowledge of homeowners
- Cash home buyers accused of real estate fraud in Montreal
- A Toronto couple whose house was sold behind their backs say they were not protected
For more information or to obtain a title insurance policy, call us at 514-74-TITRE (514-748-4873), send an email to assurtitre@jgfortin.com or request an online quote.
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