Real Estate Fraud and Title Insurance.
Today I wanted to talk about Real Estate fraud. British Columbia Court of Appeal has recently rendered two decisions dealing with real estate fraud and the validity of charges registered after the fraudulent transfer.Here is a story about a 71 year old man who's home was paid for long ago. found out that he was no longer the registered owner of his home and that the new owners had put a $400,000 mortgage on title, Gettel, who suffers from lung disease, has paid his lawyer $10,000 and the case is not yet in court. Read the whole story here.
http://www.househunting.ca/buying-homes/story.html?id=9664ef04-9afd-4561-83de-fdaabf6a907f
In my opinion, title insurance will become more and more popular to combat mortgage fraud. Here is an article, written by Spagnuolo and information on why you might want to consider title insurance.
http://www.bcrealestatelawyers.com/fraud-insurance
If you have any questions or comments, please email me at kathystilwell@gmail.com
Have a great day
Real estate it's what I do.