Danielle  Levy

Danielle Levy

Your Real Estate Consultant for Life

Sutton Group-Admiral Realty Inc., Brokerage *

Mobile:
647-210-5799
Office:
(416) 739-7200
Email Me
Danielle  Levy

Danielle Levy

Your Real Estate Consultant for Life

Sutton Group-Admiral Realty Inc., Brokerage *

Mobile:
647-210-5799
Office:
(416) 739-7200
Email Me

Title Insurance Details

Title Insurance Details

What is Title Insurance?

Title insurance is protection against loss arising from problems connected to the title of your property. Before you purchased your home, it may have gone through several ownership changes, and the land on which it stands went through many more. There may be a weak link at any point in that chain that could emerge to cause trouble.  For example, someone along the way may have forged a signature in transferring title. Or there may be unpaid real estate taxes or other liens. Title insurance covers the insured party for any claims and legal fees that arise out of such problems.

Prior to closing, public records are "searched" to determine the previous ownership of the property, as well as prior dealings related to it. At closing the buyer expects property that is free and clear of such claims, so typically they must be cleared up before closing.

Occasionally problems regarding title are not discovered before closing, or are not remedied before closing. Such defects can make the property less marketable when the buyer subsequently sells and, depending on the nature of the problem, can also cost money to remedy. For example, the survey might have failed to show that an addition to the property was built without permission. The buyer of the property could be out-of-pocket if he is later required to remove the addition.

Am I required to purchase Title Insurance?

Title Insurance is required if you need a mortgage, because all mortgage lenders require such protection for an amount equal to the loan. It lasts until the loan is repaid. As with mortgage insurance, it protects the lender but you pay the premium, which is a single-payment made upfront.

Who is protected with Title Insurance?

Title insurance policies can be issued in favour of a purchaser (on new/resale homes, condos and vacation properties), a lender, or both the purchaser and lender. Some of the risks that are frequently covered under a title insurance policy include: survey irregularities; forced removal of existing structures; claims due to fraud, forgery or duress; unregistered easements and rights of-way; lack of pedestrian or vehicular access to the property; work orders; zoning and set back non-compliance or deficiencies; etc.
For a risk to be covered, usually it has to have existed as of the date of the policy. As with any type of insurance policy, certain types of risks might not be covered, for example, native land claims and environmental hazards are normally excluded. Be sure to discuss with your lawyer what risks are covered and what are excluded.

When does the insurance coverage end?

When the title insurance is covering the purchaser, it remains in effect as long as the insured purchaser has title to the land. Some policies also protect those who received title as a result of the purchaser's death, or certain family members (e.g., a spouse or children) to whom the property may have been transferred for a nominal consideration.

When the title insurance is covering the lender, the policy remains in effect as long as the mortgage remains on title. A lender covered under a title insurance policy is insured in the event the lender realizes on its security and suffers actual loss or damage with respect to a risk covered under the policy. Lenders are usually covered up to the principal amount of the mortgage.

The premium for title insurance is paid once (at the time of purchase). Generally speaking, in Canada the purchaser of the property pays for the title insurance, though there can be situations where the seller pays for it. Some policies automatically cover both the purchaser and lender; others will cover both for a small additional fee

Protection and Peace of Mind

Title insurance can help ensure that a closing is not delayed due to defects in title. And, if an issue relating to title arises with respect to a risk covered under the policy, the title insurance covers the legal fees and expenses associated with defending the insured's title and pays in the event of loss.

 

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Danielle was born and raised in Toronto, Ontario. She has been working in the real estate industry for almost 8 years and graduated from York University with honours and being at the top of the deans list. Danielle has worked for successful teams,built relationships with the most known real estate investors and agents in the city, including different real estate brokerages and big developers where she assembles and does very large land deals. She has knowledge in assisting people with residential, commercial, assignment, and pre-construction sales!

She strives to accommodate the highest level of knowledgable advice to those contemplating selling or buying any kind of real estate property. She applies for the most advanced technology and provides the endowment of social media to market all her properties. Danielle finds satisfaction in reaching her extensive expertise to skillfully lead her clients into each step in the process of either buying, selling or leasing. Her versatile energy enables her to flourish in high-pressure circumstances to seal successful deals and outdo her client’s expectations. Her vibrant character joined with a piercing insight for the real estate market leaves a perpetual impression with every individual she meets.

Danielle devotes herself to implementing a real experience for her clients that is top-notch, private, and unceasingly having her client as a priority, letting her develop and sustain continued relations with them. This is unquestionably not a start-up for Danielle she has worked with extremely knowledgable people and she will be there with you every step of the way! It is very important to find a realtor that you can trust and who can lead you into making the right decisions based on your financial situation. She is fair, honest, and trustworthy! Her clients are her priority.

 



Education: York University

Specialty: Development Land,Residential Development, investment ,Residential Leasing,Residential Relocation,Retail,Industrial,Office,Multi-Family,Farm/Ranch,Hospitality,Recreational, Commercial, Gas Stations

Experience: 8

Awards: Multiple Award Winning Realtor

Area Covered: York Region,Toronto, Simcoe Region, Muskoka, Durham, Halton, Grey County, Hamilton, Kawartha Lakes, Brantford, Parry Sound, Dufferin

Languages Spoken: English