The purchase of a dream home is probably the greatest investment in many people’s lives, but beware — even with such a major purchase, fraud could be lurking just around the corner, say experts in the real estate industry.
This joy killer comes in many forms — lawyer negligence, title defects, title liens such as unpaid utility bills, property encroachments, title fraud such as forged documents and land survey errors.
"Nobody is protected from fraud," says Ray Leclair, vice-president of TitlePLUS, a division of LawPRO, the liability insurer for lawyers.
"Unfortunately, fraud is on the increase," not just in urban areas but even in small communities, he said in a recent interview.
"It’s like a lottery. There’s very little chance of it happening to you. But if it does happen, it has a huge impact." read more
Source:http://thechronicleherald.ca/Business/1085551.html
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