Ritu  Jain

Ritu Jain

Sales Representative

HomeLife/Response Realty Inc., Brokerage*

Mobile:
647-501-1927
Office:
905-949-0070
Email Me
Ritu  Jain

Ritu Jain

Sales Representative

HomeLife/Response Realty Inc., Brokerage*

Mobile:
647-501-1927
Office:
905-949-0070
Email Me

Title Insurance Details

Title Insurance Details

What is Title Insurance?

Title insurance is protection against loss arising from problems connected to the title of your property. Before you purchased your home, it may have gone through several ownership changes, and the land on which it stands went through many more. There may be a weak link at any point in that chain that could emerge to cause trouble.  For example, someone along the way may have forged a signature in transferring title. Or there may be unpaid real estate taxes or other liens. Title insurance covers the insured party for any claims and legal fees that arise out of such problems.

Prior to closing, public records are "searched" to determine the previous ownership of the property, as well as prior dealings related to it. At closing the buyer expects property that is free and clear of such claims, so typically they must be cleared up before closing.

Occasionally problems regarding title are not discovered before closing, or are not remedied before closing. Such defects can make the property less marketable when the buyer subsequently sells and, depending on the nature of the problem, can also cost money to remedy. For example, the survey might have failed to show that an addition to the property was built without permission. The buyer of the property could be out-of-pocket if he is later required to remove the addition.

Am I required to purchase Title Insurance?

Title Insurance is required if you need a mortgage, because all mortgage lenders require such protection for an amount equal to the loan. It lasts until the loan is repaid. As with mortgage insurance, it protects the lender but you pay the premium, which is a single-payment made upfront.

Who is protected with Title Insurance?

Title insurance policies can be issued in favour of a purchaser (on new/resale homes, condos and vacation properties), a lender, or both the purchaser and lender. Some of the risks that are frequently covered under a title insurance policy include: survey irregularities; forced removal of existing structures; claims due to fraud, forgery or duress; unregistered easements and rights of-way; lack of pedestrian or vehicular access to the property; work orders; zoning and set back non-compliance or deficiencies; etc.
For a risk to be covered, usually it has to have existed as of the date of the policy. As with any type of insurance policy, certain types of risks might not be covered, for example, native land claims and environmental hazards are normally excluded. Be sure to discuss with your lawyer what risks are covered and what are excluded.

When does the insurance coverage end?

When the title insurance is covering the purchaser, it remains in effect as long as the insured purchaser has title to the land. Some policies also protect those who received title as a result of the purchaser's death, or certain family members (e.g., a spouse or children) to whom the property may have been transferred for a nominal consideration.

When the title insurance is covering the lender, the policy remains in effect as long as the mortgage remains on title. A lender covered under a title insurance policy is insured in the event the lender realizes on its security and suffers actual loss or damage with respect to a risk covered under the policy. Lenders are usually covered up to the principal amount of the mortgage.

The premium for title insurance is paid once (at the time of purchase). Generally speaking, in Canada the purchaser of the property pays for the title insurance, though there can be situations where the seller pays for it. Some policies automatically cover both the purchaser and lender; others will cover both for a small additional fee

Protection and Peace of Mind

Title insurance can help ensure that a closing is not delayed due to defects in title. And, if an issue relating to title arises with respect to a risk covered under the policy, the title insurance covers the legal fees and expenses associated with defending the insured's title and pays in the event of loss.

Have Questions?

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Your Trusted Real Estate Agent in Mississauga, Brampton and Across the Greater Toronto Area

Part of the top performing HomeLife/Response Realty Inc. Brokerage team of agents in the Mississauga-Brampton area of Greater Toronto, I am happy to introduce Dream Homes for Sale by Ritu Jain. Whether you are a first-time buyer looking for a starter home or a seller wanting to move from your current residence to the home of your dreams, you can count on my fast, efficient and reliable services.

  •   WHAT CAN I PROMISE YOU? That your goals are my goals! I believe that buying and selling homes is an art. Every project I work on receives the same, consistently high quality of effort and undivided attention.
  •  WHAT DO I GUARANTEE? I offer you complete assurance that working with me will make home buying and selling a stress-free experience for you.
  •   WHAT IS MY APPROACH? My real estate business is built around a single guiding principle: IT IS ALL ABOUT YOU!
  •   Your needs
  •   Your dreams
  •   Your concerns
  •   Your questions
  •   Your finances
  •   Your time
  •  Your life

My focus is entirely on garnering your complete satisfaction. With 20 years of business experience, I am skilled at negotiating the best deal on your behalf. My negotiations go beyond the dollar value to ensuring you get the best value overall—location, amenities, upgrades, neighbourhood and community aspects, and much more.

 

Why Buy or Sell Your Home with Me?

It would be easy to state my experience as a successful Mississauga Realtor™ and provide impressive sales figures to get your attention. However, I strongly believe that I can only be truly successful if every client I work with finds value in my service and feels that I was able to deliver.

 

In my introduction, let me share with you some information about me that will make a real difference to you.

 It is easy to reach me: Whether by phone or through email, I will respond to you immediately. Every request is important and I respond with the urgency it deserves. You will not have to worry about talking to my voicemail and hearing nothing back!

 I work to earn your trust: Your business is important to me, but winning your trust is my first priority. What I say to you will not matter if I am not able to deliver what I promise. My clients are happy to refer me to their friends and family, because I keep my word.

Thorough professional: I uphold the highest professional standards, from communications, to timelines, dress code, marketing techniques and industry knowledge.

 I use technology well for buying and selling homes: I have access to HomeLife/Response Realty’s online tools and technologies to effectively market your home. We personalize our search mechanisms to find your dream home. I also tap into HomeLife/Response Realty’s strong industry connections and market leadership to give my clients an edge in the market.

My clients speak for my work: If you are looking to buy or sell a home in Mississauga-Brampton or anywhere across the GTA, I will be happy to provide references. That way, you will have first-hand feedback about my work.

 I focus on building a relationship: I want you to be 100% satisfied with my services. I know that this is the only way you will come back to me and provide referrals. This is how I want to grow my business – by helping you find your dream home, so that you will let me help others in your circle.

HomeLife/Response Realty Inc. is a popular real estate brokerage for buying and selling homes in Mississauga. As a trusted agent, my clients are assured that I will get the job done while maintaining focus on maximizing their comfort and profitability.

Planning to buy or sell your home? I will make it a satisfying experience for you and look forward to the opportunity to earn your business.

Call Dream Homes for Sale at 905-949-0070 to set up a meeting with me, Ritu Jain, an experienced Mississauga Realtor™.

 



Education: Bachelor of commerce

Area Covered: Greater Toronto Area

Languages Spoken: English, Gujarati, Hindi, Punjabi, Urdu