GEORGE PAUL  VLAHAKIS

GEORGE PAUL VLAHAKIS

Manager

Forest Hill Real Estate Inc., Brokerage*

Mobile:
416.755.0123
Office:
416-755-0123
Email Me
GEORGE PAUL  VLAHAKIS

GEORGE PAUL VLAHAKIS

Manager

Forest Hill Real Estate Inc., Brokerage*

Mobile:
416.755.0123
Office:
416-755-0123
Email Me

Title Insurance Details

Title Insurance Details

What is Title Insurance?

Title insurance is protection against loss arising from problems connected to the title of your property. Before you purchased your home, it may have gone through several ownership changes, and the land on which it stands went through many more. There may be a weak link at any point in that chain that could emerge to cause trouble.  For example, someone along the way may have forged a signature in transferring title. Or there may be unpaid real estate taxes or other liens. Title insurance covers the insured party for any claims and legal fees that arise out of such problems.

Prior to closing, public records are "searched" to determine the previous ownership of the property, as well as prior dealings related to it. At closing the buyer expects property that is free and clear of such claims, so typically they must be cleared up before closing.

Occasionally problems regarding title are not discovered before closing, or are not remedied before closing. Such defects can make the property less marketable when the buyer subsequently sells and, depending on the nature of the problem, can also cost money to remedy. For example, the survey might have failed to show that an addition to the property was built without permission. The buyer of the property could be out-of-pocket if he is later required to remove the addition.

Am I required to purchase Title Insurance?

Title Insurance is required if you need a mortgage, because all mortgage lenders require such protection for an amount equal to the loan. It lasts until the loan is repaid. As with mortgage insurance, it protects the lender but you pay the premium, which is a single-payment made upfront.

Who is protected with Title Insurance?

Title insurance policies can be issued in favour of a purchaser (on new/resale homes, condos and vacation properties), a lender, or both the purchaser and lender. Some of the risks that are frequently covered under a title insurance policy include: survey irregularities; forced removal of existing structures; claims due to fraud, forgery or duress; unregistered easements and rights of-way; lack of pedestrian or vehicular access to the property; work orders; zoning and set back non-compliance or deficiencies; etc.
For a risk to be covered, usually it has to have existed as of the date of the policy. As with any type of insurance policy, certain types of risks might not be covered, for example, native land claims and environmental hazards are normally excluded. Be sure to discuss with your lawyer what risks are covered and what are excluded.

When does the insurance coverage end?

When the title insurance is covering the purchaser, it remains in effect as long as the insured purchaser has title to the land. Some policies also protect those who received title as a result of the purchaser's death, or certain family members (e.g., a spouse or children) to whom the property may have been transferred for a nominal consideration.

When the title insurance is covering the lender, the policy remains in effect as long as the mortgage remains on title. A lender covered under a title insurance policy is insured in the event the lender realizes on its security and suffers actual loss or damage with respect to a risk covered under the policy. Lenders are usually covered up to the principal amount of the mortgage.

The premium for title insurance is paid once (at the time of purchase). Generally speaking, in Canada the purchaser of the property pays for the title insurance, though there can be situations where the seller pays for it. Some policies automatically cover both the purchaser and lender; others will cover both for a small additional fee

Protection and Peace of Mind

Title insurance can help ensure that a closing is not delayed due to defects in title. And, if an issue relating to title arises with respect to a risk covered under the policy, the title insurance covers the legal fees and expenses associated with defending the insured's title and pays in the event of loss.

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George Paul Vlahakis bought his first investment property at 19 years of age, and has been passionate with everything real estate ever since. 

With 20 years of sales and real estate experience, along with a background in architectural design, George Paul possesses a vast knowledge in all things real estate.  This includes everything from spearheading development projects, real estate architecture and design and trading both in residential and commercial properties.

Driven by his passion, George Paul continues to educate himself on all things real estate, including new technologies and systems that affect the real estate industry here in Canada and internationally.  He frequently attends and participates in cutting edge seminars hosted by industry leaders

In addition to George Paul’s knowledge of the industry, his loyalty, dedication and strong negotiating skills have made a large impression on clients and industry professionals over the years.  His understanding of clients’ needs and requests prompt clients to constantly approach George Paul for his real estate advice and direction when it comes to investing, purchasing, selling or developing.

Through modern day technology, including web and social media, George Paul continues to expand his portfolio, increase his database and widen his network of contacts that includes clients and industry professionals.  This network of contacts creates a beneficial opportunity to bring together a client to the right property, an investor to the appropriate development and needs to be met efficiently and cost effectively.

It is George Paul’s passion for real estate as a whole that made him realize that there was a need for a full service real estate boutique. By bringing together a group of real estate professionals that have the expertise to better service investors, builders and real estate clients, The George Paul Team was born. 



Specialty: architectural design, development projects, real estate architecture, design and trade for residential and commercial property, dream homes, first time buyers, relocation, investment properties, residential, condos, commercial, retirement and selling during divorce.

Experience: Over 20

Awards: BILD marketing person of the year, NAHB marketing person of the year, Multiple Platinum Sales Awards, National Academy of Best Selling Authors Best selling book 2013.

Area Covered: Toronto, East York, North York, Scarborough,Richmond Hill, Aurora, Newmarket, York Region, GTA and surrounding areas.