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Title Insurance
Generally, title fraud harms the individual homeowner. Often, it involves someone using stolen identification or forged documents to transfer a registered owner's title (deed) to himself/herself. It also involves that person securing a mortgage on a property and then disappearing with the mortgage proceeds. Title fraud usually occurs in 10 reported cases out of 2.2 million real estate transactions per year.
As an additional means of protecting interest in your property, consider title insurance. Many mortgage companies require you to purchase title insurance.
Also, as another means of protection, consider PIN (Property Identification Number) Monitoring of changes in your title based on the Province of Ontario Land Registration Information System (POLARIS). Your PIN is monitored by Teranet, Inc. For more details about title insurance or PIN Monitoring, speak to your HomeLife REALTOR® or your lawyer.
It's Unbelievable but It can happen to anyone ....