Jennifer  Valenzuela

Jennifer Valenzuela

Sales Representative

Royal LePage Signature Realty, Brokerage

Mobile:
416-709-8175
Office:
905-568-2121
Email Me
Jennifer  Valenzuela

Jennifer Valenzuela

Sales Representative

Royal LePage Signature Realty, Brokerage

Mobile:
416-709-8175
Office:
905-568-2121
Email Me

Title Insurance Details

Title Insurance Details

What is Title Insurance?

Title insurance is protection against loss arising from problems connected to the title of your property. Before you purchased your home, it may have gone through several ownership changes, and the land on which it stands went through many more. There may be a weak link at any point in that chain that could emerge to cause trouble.  For example, someone along the way may have forged a signature in transferring title. Or there may be unpaid real estate taxes or other liens. Title insurance covers the insured party for any claims and legal fees that arise out of such problems.

Prior to closing, public records are "searched" to determine the previous ownership of the property, as well as prior dealings related to it. At closing the buyer expects property that is free and clear of such claims, so typically they must be cleared up before closing.

Occasionally problems regarding title are not discovered before closing, or are not remedied before closing. Such defects can make the property less marketable when the buyer subsequently sells and, depending on the nature of the problem, can also cost money to remedy. For example, the survey might have failed to show that an addition to the property was built without permission. The buyer of the property could be out-of-pocket if he is later required to remove the addition.

Am I required to purchase Title Insurance?

Title Insurance is required if you need a mortgage, because all mortgage lenders require such protection for an amount equal to the loan. It lasts until the loan is repaid. As with mortgage insurance, it protects the lender but you pay the premium, which is a single-payment made upfront.

Who is protected with Title Insurance?

Title insurance policies can be issued in favour of a purchaser (on new/resale homes, condos and vacation properties), a lender, or both the purchaser and lender. Some of the risks that are frequently covered under a title insurance policy include: survey irregularities; forced removal of existing structures; claims due to fraud, forgery or duress; unregistered easements and rights of-way; lack of pedestrian or vehicular access to the property; work orders; zoning and set back non-compliance or deficiencies; etc.
For a risk to be covered, usually it has to have existed as of the date of the policy. As with any type of insurance policy, certain types of risks might not be covered, for example, native land claims and environmental hazards are normally excluded. Be sure to discuss with your lawyer what risks are covered and what are excluded.

When does the insurance coverage end?

When the title insurance is covering the purchaser, it remains in effect as long as the insured purchaser has title to the land. Some policies also protect those who received title as a result of the purchaser's death, or certain family members (e.g., a spouse or children) to whom the property may have been transferred for a nominal consideration.

When the title insurance is covering the lender, the policy remains in effect as long as the mortgage remains on title. A lender covered under a title insurance policy is insured in the event the lender realizes on its security and suffers actual loss or damage with respect to a risk covered under the policy. Lenders are usually covered up to the principal amount of the mortgage.

The premium for title insurance is paid once (at the time of purchase). Generally speaking, in Canada the purchaser of the property pays for the title insurance, though there can be situations where the seller pays for it. Some policies automatically cover both the purchaser and lender; others will cover both for a small additional fee

Protection and Peace of Mind

Title insurance can help ensure that a closing is not delayed due to defects in title. And, if an issue relating to title arises with respect to a risk covered under the policy, the title insurance covers the legal fees and expenses associated with defending the insured's title and pays in the event of loss.

 

Have Questions?

Hi I’m Jennifer!

I believe the best way to know if you can work with someone is through a feeling you get when meeting them in person for the very first time. If you are reading this page, hopefully, we already had the pleasure of getting to know one another and here is a little bit more for you to know about me.

I have over 25 years of combined business experience; reaching an executive level position in one of Canada's five major banks and as a sales professional with an award-winning Canadian real estate brokerage. Why is this important for you to know? Successful companies reach greatness when their primary focus is on their clients. My entire career has been focused on what I, my team and my company can do to provide a phenomenal customer experience and how we can collectively deliver a consistent, predictable high level of service. In life, I strive to exceed the expectations of everyone I meet; for it is not what I say or do for you; it’s how I make you feel that is most important.

My years of business knowledge and experience has provided me with exceptional skills in sales, negotiations, relationship building and creative marketing. As a designated Certified Negotiation Expert (CNE) and Certified Luxury Home Marketing Specialist (CLHMS); with proven performance in the luxury real estate market, it is my mission to use these skills and designations to the absolute max and provide you with an outstanding real estate experience.

AS MY CLIENT YOU CAN EXPECT:

  • A high level of communication, unwavering commitment, adaptability and patience; so, you are heard, respected and can understand the process throughout our journey.
  • Experience in identifying and executing marketing strategies to attract the right target audience that will buy your home, sell you their home off market or both.
  • A highly skilled sales professional to negotiate the best outcome on your behalf.
  • Confidence that I partner only with trusted experienced professionals to assist you in all aspects of your real estate transaction when needed.
  • Comfort that I am committed to helping you from start to finish until you are ready to do it all over again!

 

Lastly, I believe that it is not enough to make promises without reinforcing them. I have taken a different approach when it comes to our real estate relationship and provide all my clients with assurances through Jen V Real Estate Service Guarantees.

 

On a personal note, when I am not busy helping my clients achieve their real estate dreams, I spend most of my time with family. I am happily married to my high school sweetheart; we have two fabulous kids in university and a beloved Boston Terrier that is our pride and joy.

I am excited to work with you and get to know you better as well!



Designation: CLHMS, CNE

Languages Spoken: English, Spanish