On Behalf of Filice Law | January 20, 2023
Title defects, also called clouds on a title, can complicate buying or selling a home in Ontario. In some cases, they could derail a transaction altogether, so it can help to know what some common clouds might be and how you can avoid the complications they can cause.
Certain issues could invalidate a title, cost buyers money and cast doubt on ownership, so it can be crucial for parties to be aware of some of the common title issues they could discover.
Learning about title issues or defects can be upsetting, but uncovering them sooner rather than later is crucial. As soon as you discover a title cloud, you can take steps to clear it.
There are multiple ways you can resolve or prevent issues with title defects. One option is to secure title insurance to protect you from financial losses from the cloud. Quitclaim deeds, lawsuits and quiet title actions can also clear a title.
If you are buying a new home, you probably have a list of all the most important things you want in a house. Adding a clean title to your list can be wise for anyone hoping for a smooth transaction.