While title insurance is not required, whether or not you decide to purchase title insurance should be discussed with your lawyer and a trusted title insurance company. Doing so will help you to understand the range of protection that title insurance can provide you as a property owner, as well as to make you aware of what other options may exist. Note that title insurance does not replace legal advice when purchasing a property.

For a one time fee, known as a premium, a title insurance policy can provide protection from losses such as:

• Existing liens against the property’s title (such as if the previous owner had unpaid debts from utilities, mortgages, property taxes or condo charges secured against the property)
• Encroachment issues
• Title fraud
• Errors in surveys and public records
• Other title related issues that can affect your ability to lease, mortgage, or sell your property in the future

Some title insurance policies may be subject to possible exclusions, which could include:

• Known title defects that were revealed to you before you purchased your property Environmental hazards Problems that would be discovered by a survey or inspection of your property

Matters or issues not listed in public records Zoning bylaw violations as a result of renovations or additions to your property or land

At Hemisphere Title, we strive to give you the best protection for your specific situation. Feel free to contact our team with any questions you may have regarding your upcoming purchase, or your existing property; we would be happy to clarify everything for you.