Spotlight claim: real estate fraud
Apr 4th, 2019 | By FCT
Rita* purchased her dream property in 2010. Several years later, she was served with a statement of claim in relation to two mortgages that had been registered in 2015. The lender was attempting to sell the property because the mortgages were in default.
Rita was in shock because she never signed off on these mortgages. As she had a homeowner’s title insurance policy from FCT, she contacted us to investigate further. Since she didn’t benefit from the mortgages or even consent to them, we retained counsel to have the mortgages struck from title and paid her legal expenses of over $96,000.
With an owner’s title insurance policy, homeowners can rest easy knowing that they are protected from title fraud, as well as a range of pre-existing, unknown issues such as work orders and zoning violations, etc.
To learn more about title fraud, watch our short video here.
*Name has been changed to protect the privacy of our clients.