No doubt we are all following the January 2023 news reports about two Toronto homes being listed for sale without the home owners' knowledge. Are you aware of home title fraud and how to prevent it?
WHAT IS HOME TITLE FRAUD?
It is when someone fraudulently replaces your name on your home title with their name, using fake identification or forged documents.
WHAT CAN YOU DO TO PREVENT IT?
For starters, never share your SIN number, banking / credit card details or any other personal information. Protect your computer and other online accounts by creating a strong password, enable multi-factor authentications and only log in from trusted devices.
Landlords should be cautious that their renters do not have any access to personal documents.
Get Title Insurance! According to the Royal Bank of Canada: Title insurance is an insurance policy that protects you, the home owner, against challenges to the ownership of your home or from problems related to the title to your home. Title insurance protects you for as long as you own the property.
For more information regarding this post or other real estate inquiries, contact FRANK ROCCO and the All Vancouver Group Team at 604-202-7205
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