When buying a home, we all understand the value of Home Insurance; it protects against potential future events that could damage or destroy your home. Fire, theft, hail, and flooding are common examples. But what happens if you purchase a property only to find out that something occurred in the past that affects your ownership of that property? Enter Title Insurance. In this article, I’ll explain the benefits of purchasing Title Insurance and the risks of completing your purchase without it.
Although similar to standard residential real estate, Condominium transactions are distinct and must comply with separate legislation: The Condominium Act C.C.S.M. c. C170 (hereinafter the "Act").
There are a number of differences between a standard real estate transaction and one involving a Condominium. Most importantly, the Buyer has a right to cancel the agreement (for any reason) until such time as all disclosure is provided and the 7-day cooling-off period has expired. In this article, I will outline some of the notable difference.