TitlePLUS insurance launches new campaign to educate home buyers

June 19, 2006

TORONTO - Many Ontarians have jumped into the busy real estate market without fully appreciating the legal dimensions of home buying or the critical role that a real estate lawyer plays in protecting them, according to new research generated for TitlePLUS insurance, a leading provider of title insurance to homeowners. Only 10 per cent of recent home buyers in Ontario saw their lawyer’s role as an advisor on matters such as mortgage and title issues, and one third did not know what title insurance is.

The research is part of a marketing campaign by TitlePLUS insurance to raise consumer awareness of the legal risks in home buying and the crucial role of their real estate lawyer. The campaign includes print and radio advertising as well as public relations activities. 

“Real estate lawyers play a key role in navigating the major legal implications of home purchase. Although a home is usually a family’s largest financial investment and, as a result, presents the greatest potential financial risk, many Ontarians are unaware of the potential hazards” says lawyer Kathleen Waters, Vice President, TitlePLUS. “Real estate lawyers not only manage the necessary paperwork of sale, but more importantly protect home buyer’s interests by anticipating potential hazards. We know that the greatest risks cluster around issues other than title, and many home buyers are not aware of these risks.” 

The TitlePLUS policy is one of the few title insurance products that includes legal services protection. “Real estate lawyers tell us they appreciate being able to help their clients obtain added security, and that the standardized TitlePLUS process allows them to spend less time on redundant paperwork, and more time offering personalized legal advice and service to their clients” said Waters. 

Available only through real estate lawyers, TitlePLUS title insurance carries a low, one-time premium and provides a comprehensive title insurance policy, protecting buyers and lenders for title-related problems that could affect ownership or the marketability of the property in the future, and legal services provided by the lawyer closing the purchase. The policy continues to cover the home buyer, the spouse or heirs for as long as any of those parties has an interest in the property. 

Source: TitlePLUS Insurance

Contact ALTA at 202-296-3671 or communications@alta.org.