“Title insurance” is designed for anyone buying property, refinancing a mortgage or borrowing money secured against a residential home or condominium. It protects the buyer from unforeseen circumstances that can prove expensive and time consuming. It’s a product recommended for most going through the process of purchasing or refinancing. Now TitlePLUS Title Insurance means the product is 100% online.

Lyle Carlstrom and Kay McVey Smith and Carlstrom are pleased to be the first in Grande Prairie to offer the product. Lyle Carlstrom says “We used to rely on mail, and faxing to take care of this. That took time and energy. With the online TitlePLUS program I can save my clients money, stress and time. It’s also a more accurate product as it’s direct via the web."

For a one-time, single premium, TitlePLUS insurance covers both the homebuyer and the lender for title-related problems that could affect the ownership or marketability of the property in the future, as well as for the legal services provided by the lawyer closing the transaction. TitlePLUS also insures against many of the risks that normally would be beyond the scope of the lawyer’s opinion – issues such as fraud, forgery, survey errors, the absence of an up-to-date survey and errors made by governments, in search responses for covered title risks.

If a problem with title surfaces after the deal has closed, or if it is discovered that the lawyer made an error or omission, TitlePLUS insurance either pays to rectify the problem (for example, moving a garage off a neighbour’s property line) or compensates the appropriate parties for up to the full value of the title insurance policy. “Sometimes clients find out a deck or garage is built 5 years ago that didn’t have proper permits or doesn't meet code, and now the owner is saddled with fixing the problem, at his or her cost. With TitlePLUS Title Insurance, (s)he’s covered.”

"Buying a home is stressful for some – this is just another tool to take away that stress. We’re excited to be the first to offer it in our area."