This means that your coverage protect your property for most risks but the known defect is exempted out of the policy. It assures the state of the title at date of registration of the land transfer (real estate trade) or loan document (mortgage deal), may cover deficiencies that would not show on a, may cover hidden deficiencies such as underground storage tanks or underground septic tanks. They can compare several different title insurance products and recommend the product that would best meet your needs. Unfortunately, there are people in the world that are extremely skilled in fraudulent real estate transactions. Title insurance is not a requirement in Ontario. Violations of municipal zoning b… Get a head start on achieving your financial goals to be sure you're financia… twitter.com/i/web/status/1… via @RECA, Our office will close at 2:00 p.m. today and will be closed tomorrow Jan. 1st. Alberta home buyers may have to pay more to close real estate … He said home buyers can avoid any difficulties by purchasing title insurance — which could cost between $175 and $200, an amount that … “Alberta had their shit together,” Booth … supplying a medical market whose patients have full insurance coverage from the … Copyright All Rights Reserved © 2018 Kahane Law Office, Dependent Adult Applications (Represented Adults), This Week’s Wacky Wednesday: Richard Simmons is Still Winning. Cindy purchases her first home, which includes a large rear deck off the kitchen that the previous owners built. Kahane Law is determined to bring you informative, useful legal information in short easy to watch videos. It addresses key areas of knowledge that all lawyers who use title insurance in Alberta should possess, including a discussion on the basics of title insurance, what is covered, and various claims examples. If y… twitter.com/i/web/status/1… via @RECA, RECA will be closed tomorrow in observance of #RemembranceDay. Though they are not the same, both can provide some protection for a buyer. There is no coverage for that defect. Check out the award-winning COVID-19 material and resources here:… twitter.com/i/web/status/1… via @RECA, The COVID-19 pandemic is ongoing in Alberta. More details will be a… twitter.com/i/web/status/1… via @RECA, #DYK You can anonymously provide RECA information about #mortgagefraud. Vehicles on a public roadway in Alberta must have valid insurance and a Vehicle Registration Certificate. In addition, you are able to fully rely on the registrations that are registered at the Alberta Land Titles Office. RESIDENTIAL TITLE INSURANCE ORDER FORM (WESTERN CANADA) 6. No person… twitter.com/i/web/status/1… via @RECA, Industry pros: Today is the LAST day to complete your #LicenceRenewal for the 2020-2021 year! Call us today in Calgary, at 403-225-8810 to order your policy, or email us here directly. RECA's Home Seller Guide will help you get ready for every step of the home-sell… twitter.com/i/web/status/1… via @RECA, #FridayFact #DYK RECA has a Public Licence Search tool so you can easily find licensees in Alberta… twitter.com/i/web/status/1… via @RECA, Are you financially ready to buy your dream home? Additional coverage can be purchased from your insurer. Title Insurance is private insurance that is purchased which allows certain real estate transactions to “close” on the Closing Date, even though the actual registration of the documents has not taken place at the Land […] To remain authorized, mortgage brokerage professionals must renew on or before Septe… twitter.com/i/web/status/1… via @RECA, Managing Mortgage Brokers: You only have a few more weeks to complete the Mortgage Broker Update 2020 course and re… twitter.com/i/web/status/1… via @RECA, Been offered a mortgage deal that seems too good to be true? Owners of motor vehicles in Alberta must obtain coverage that meets the mandatory regulations. Get star… twitter.com/i/web/status/1… via @RECA, Just receive an offer on your home? A mortgage broker can help you understand the risks and responsib… twitter.com/i/web/status/1… via @RECA, Duane Monea has been RECA's administrator since last November as we worked to establish a new governance structure,… twitter.com/i/web/status/1… via @RECA, The 2020 Industry Member Councils election results and newly-appointed public members have been officially announce… twitter.com/i/web/status/1… via @RECA, #RealEstateAmendmentAct2020 comes into force tomorrow. On December 14,2018, Service Alberta unveiled stage two regulations and announced they will begin stage three consultation which includes condominium manager licensing. Some lawyers in Alberta say they are not just concerned about the big profits earned from the insurance policy. It is a form of indemnity insurance for a mortgaged property that covers the loss of an interest in a property due to discovered legal defects. Mort… twitter.com/i/web/status/1… via @RECA, RECA welcomes a review by the Minister of Service Alberta, Money Laundering and Real Estate Transactions, Professional Conduct Review (Investigations), Service Alberta Ministerial Order & Advertising Clarifications, Standard residential purchase contract in Alberta requires the seller or the seller’s lawyer to give an RPR to the buyer or buyer’s lawyer, Is an insurance product that cannot fix problems, but rather gives financial protection if problems arise in the future, Provides information about property compliance issues up front, so issues can be dealt with before closing (an RPR with a stamp of municipal compliance is critical protection for all parties in a real estate transaction), May cover internal non-compliance issues that do not show on an RPR (such as a lack of building permits or failure to meet building code on renovations) and may cover hidden deficiencies (such as underground storage tanks), Does not provide any insurance coverage/financial protection – the goal is to avoid problems arising later by having an RPR with a stamp of municipal compliance, can cover future title fraud (i.e. The seller must disclose to the insurer the encroachment prior to purchasing the policy. 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