Every now and then, I receive mail from banks about getting title insurance for my home. Title insurance is a very valuable tool; it protects you from any problems with the title to your property that could not be discovered before your purchase was completed, and protects you going forward against fraud (either a false mortgage put on title or a false transfer). However, you should be careful about title insurance recommendations for property you already own, because you likely already have it in place. Title insurance has been available in Canada for over 20 years, and as it rose in popularity, banks and mortgage companies began insisting on either extensive searches, often including a new survey, or title insurance when you purchase real estate. Faced with this choice, most people chose title insurance. Before you purchase a new title insurance policy, look through your documents from when you purchased the property and determine whether you already have it.
Title insurance: you probably already have it
