Real Estate Blog - Page 2 of 2

12 August

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Title Insurance

Like any other insurance, be it automotive or home insurance, title insurance protects you from certain damages. You pay a premium to a title insurer to protect yourself from damages arising as a result of problems with title to your property. The premium for title insurance is usually paid only once and during the purchase of the property. A lawyer must order title insurance for you from a title insurer. Title insurance policies can be issued in favour of both the buyer and the lender of money. Some lenders will require you to obtain title insurance in order for them to transfer...

12 August

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Lien

Posted by DeKrupe

in Real Estate

Realty taxes The Municipal Act, 2001 provides that unpaid realty taxes create a lien. This is a special type of lien that takes priority over any other type of lien except the Crown’s and the Municipality does not need to register it, it is automatic. The Act also allows the municipalities to add to the tax lien any amounts not paid for public utility which can include...

12 August

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Condominium Unit

Posted by DeKrupe

in Real Estate

The common elements are generally areas such as the lobby, grounds, parking lots, corridors, and recreational facilities, which are used by all of the unit owners. Common elements also include machinery used in the condominium, such as heating and cooling equipment and exterior structure of the building....