Title Insurance

An insurance policy that protects Ontario homeowners and their mortgage lenders against financial loss arising from title defects — such as unknown liens, title fraud, survey errors, encroachments, or zoning violations — that existed before or at the time of purchase but were not discovered in the title search. In Ontario, title insurance has largely replaced the traditional survey requirement. Two types exist: owner’s title insurance (protects the buyer) and lender’s title insurance (protects the mortgagee). It is a one-time premium paid at closing.