In Ontario, there are three main ways to assure title on your home: traditional title insurance, TitlePLUS®, or a lawyer’s opinion on title.
A lawyer’s opinion on title
Your lawyer reviews government records, surveys and other searches and gives an opinion on whether title is good. The limitation is that the opinion can only be as accurate as those records, and surveys in particular may be out of date.
Title insurance
Title insurance goes further. It protects your interest in title against risks such as title defects, liens or charges on title, unmarketable title and a lack of legal access to and from your land. It’s usually a one-time premium paid at closing.
Which is right for you? For most purchases, title insurance offers broader protection. Your lawyer will explain the options and help you choose.