Vol.1, July 2006

How to Protect Against the Rising Tide of Title Fraud:
What is title fraud? Below are two examples of title fraud:

A homeowner holds his/her property free and clear of all mortgages and another individual unknown to the homeowner registers a mortgage against the title of the owner’s property. This person impersonates the owner using fake identification with the result that the owner is left responsible for the full amount of a mortgage that has been fraudulently registered against his property.

Fraud also can occur when the homeowner is away on an extended vacation and the property is vacant for a time, or the property is rented to a tenant. In this case, the fraud occurs when another person other than the homeowner pretends to be the owner of the property and sells the property to a buyer who thinks that the title of the property is being legally transferred to them.

If you had these or other fraudulent situations occur…would you be protected?

If you recently purchased your home and used title insurance at the time of purchase, the answer is likely yes. You can inquire by contacting your title insurance company and/or speak to your legal representative.

For those of you who do not currently have title insurance and would like to have protection, title insurance is now available to purchase through your lawyer, for property that you already own. The relatively low cost of title insurance (under $300.00) provides you with broad protection against loss up to the amount of the policy, plus legal costs incurred defending title.

You can obtain more information by contacting your lawyer, and if you don’t have legal counsel, please contact us and we can help refer you.

More information is also available by going to
www.stewart.ca (1-888-667-5151)
www.firstcanadiantitle.com (1-800-307-0370)

Planning Home Renovations or Planning an Estate?

As a value added service from Elaine and Gary, we offer, to our preferred clients access to trades, contractors and professionals. We enjoy referring these individuals to our clients because they provide quality workmanship, services and value. We do not benefit financially from these referrals. Please feel free to contact us if you require any assistance in the following areas: roof/shingles, hardwood/tiles floors, bathroom/kitchen/basement renovations, landscaping/decks, replacing windows/doors, painting and carpet cleaning. We can also assist you with referrals for estate and tax planning, mortgages and tax accountants, investment counselling and legal services.

Housing Market Trends in Ottawa

The Chart below represents the monthly/yearly trends in the Ottawa market. The data was collected from the Ottawa Real Estate Board website. For more detailed information about prices in your neibourhood please give us a call.