Apparently, it's not too hard to forge document and steal one's identity.
When I bought my house I coudn't believe that everythign could be done online, seems pretty easy to just steal someone's identity and "sign" the documents electroncially.
Man loses house to title fraud
- Thread starter stinkynuts
- Start date
Apparently, it's not too hard to forge document and steal one's identity.
When I bought my house I coudn't believe that everythign could be done online, seems pretty easy to just steal someone's identity and "sign" the documents electroncially.
The video is about the U.S. but I heard of cases in Canada as well. My memory may be not be perfect but I seem to remember:
1) A couple came back from Hong Kong and found that their house had been sold.
2) Mortgage fraud.
1) A couple came back from Hong Kong and found that their house had been sold.
2) Mortgage fraud.
No, you need to buy it, usually it is automatically bought at closing by the real estate lawyer, and the seller pays for it. The insurance companies make millions of dollars through these forced transactions.
However, this insurance is so vital and everyone should have it. In addition, it is only a one time fee of a few hundred dollars , so I don’t think anyone would really complain that it is forced upon them.
however, not everyone has title insurance if it was not forced on them. You should have received a title insurance certificate shortly after closing . If you do not have it, then you are not insured you will have to get it on your own.
Title Insurance in Canada: Do You Need It? - NerdWallet
Title insurance is an optional policy that protects homeowners against property title issues, such as liens or fraud.
www.nerdwallet.com
Found the link. Happened to a Toronto couple.
toronto.ctvnews.ca
Toronto homeowners return from trip to find they'd been impersonated, their house sold
The owners of a Toronto home got the surprise of a lifetime when they discovered their property had been fraudulently listed and sold by two people impersonating them while away on a business trip.
Both. The original owners will get their house back, however, since the sale was never legal. However, I'm not sure title insurance would compensate the buyers, since they are not policy holders. They become a victim of crime, and are on the hook for the money they borrowed from the bank to pay for the house.
....that Montreal had 4 future Hall of Fame goalies on their roster at one time.
Wrong thread, or database error?....that Montreal had 4 future Hall of Fame goalies on their roster at one time.
I missed the first part of Dart's post.
I thought that was a similar incident in Toronto about 20 years ago, and the land registry office would not reverse the title, and the original owners were the losers. As a result when we moved we had to show photo ID during the closing
I thought that was a similar incident in Toronto about 20 years ago, and the land registry office would not reverse the title, and the original owners were the losers. As a result when we moved we had to show photo ID during the closing
If you have a Home Equity Line of Credit that uses your house as the Secured Collateral, this also functions effectively as Title Insurance. The Bank generally will register a Collateral Charge against the Property for 100% to 125% of it's value (unless you specify otherwise).No, you need to buy it, usually it is automatically bought at closing by the real estate lawyer, and the seller pays for it. The insurance companies make millions of dollars through these forced transactions.
However, this insurance is so vital and everyone should have it. In addition, it is only a one time fee of a few hundred dollars , so I don’t think anyone would really complain that it is forced upon them.
however, not everyone has title insurance if it was not forced on them. You should have received a title insurance certificate shortly after closing . If you do not have it, then you are not insured you will have to get it on your own.
Title Insurance in Canada: Do You Need It? - NerdWallet
Title insurance is an optional policy that protects homeowners against property title issues, such as liens or fraud.
The Big 5 Banks all offer a combination of a Mortgage and Home Equity Line of Credit; whereby the limit on the Line of Credit increases proportionally with the amount of Mortgage principal paid. Once the Mortgage is paid, you can simply leave the Home Equity Line of Credit open with a $0 balance if you wish.
We 're lucky he didn't post any of his infamous pics that nobody else on the Board posts.
Anyway, looks like he's now turned his attention to Vera/Josephine and Frankfurter.
