When making a major purchase such as buying a home, many people want to take steps to protect their investment. One of the most common ways to protect a purchase of residential real estate is by purchasing insurance. Title insurance is one type of insurance that is less understood but can be very advantageous for Alberta homeowners.
Title insurance typically costs between $300 and $400 dollars in most cities, but its benefits can be worth thousands should certain conflicts arise later down the line. Title insurance can protect residential real estate owners from a variety of scenarios. These include a home encroaching on a neighbour's property, property tax defaults from previous owners and title fraud.