Title insurance is now widely accepted by mortgage lenders including the major banks, trust companies, credit unions and private lenders.

Title insurance is an insurance policy issued by an insurance company which insures or indemnifies the home buyer and mortgage lender (where mortgage financing is involved) against loss or damage sustained as a result of covered title risks and defects. It further insures against various problems which would have been disclosed by an up-to-date survey of the property and against the property’s failure to comply with municipal or other applicable regulatory authority requirements. In essence, it transfers the risks connected with the property title from the home buyer and mortgage lender to the title company.

• Another person or entity having an ownership or other interest in your property whether or not it appears on the registered title;
• Any mortgage or lien affecting the property;
• Any lien resulting from a court judgment, property tax arrears or public utility arrears;
• Any unregistered hydro easement;
• Any improperly completed, signed or registered documents;
• The invalidity of your title due fraud, forgery, duress, incapacity or impersonation;
• Forgery of a document after the policy takes effect under which another party claims an interest or lien against your title;
• An expropriation of all or part of your property;
• The lack of a right of access to and from your property;
• Your inability to legally require another party to complete a purchase of or extend a mortgage loan upon the property due to your title being unmarketable or to an infraction or adverse matters which would have been revealed by an up-to-date survey of the property;

No. It depends upon the type and nature of the estate assets to be administered, including whether or not the deceased had a will.

For example, a third party holding the deceased’s assets (e.g. a bank) may require the estate trustee to obtain a court-issued certificate of appointment of estate trustee before the assets will be released. A lawyer is in the best position to provide legal advice about whether or not it is necessary to obtain a certificate of appointment of estate trustee.

The estate administration tax is imposed on the value of all the property that belonged to the deceased at the time of his or her death less the actual value of any encumbrance on real property that is included in the property of the deceased.

It is a requirement under the Estates Act that this value be disclosed when the estate representative files an Application for a Certificate of Appointment of Estate Trustee with the Superior Court of Justice. The estate administration tax must be paid as a deposit at this time. Cheques for paying the estate administration tax are made payable to the Minister of Finance.

A corporation (also called "company") is a legal entity that has its own legal personality which is distinct from its owners (called shareholders) and the individuals who manage and run its affairs and business (called directors and officers).

The creation of a corporation occurs following the proper filing of Articles of Incorporation (also called a Charter, Certificate of Incorporation or Letters Patent) with the relevant government department or authority. Every corporation is comprised of shareholders, directors and officers. Shareholders, as the name implies, are the ones who hold (i.e., own) the shares in the corporation. By reason of the votes that are usually attached to the shares, the shareholders control the corporation. If there is only one shareholder, that person has absolute control of the corporation. If the corporation has numerous shareholders, control of the corporation depends on who has a majority of the voting shares. However, the shareholders do not directly manage the corporation. They exercise their influence by electing and removing directors and approving or disapproving major corporate decisions.