A "message" from Message - Are BC home owners protected against title fraud?
In light of recent stories in The Vancouver Sun regarding the issues of title and mortgage fraud in BC, the BC Land Title and Survey Authority (LTSA) issued a press release yesterday underlining that such cases are extremely rare because strong protections are in place in this province. The LTSA reports that over the past 18 years, the land title system processed 15 million transactions. During this time, two claims related to land ownership fraud were successfully resolved and only 14 claims related to mortgage fraud had been filed. The LTSA is not only legally obligated to confirm ownership every time a property is sold, mortgaged, leased or statutory rights of way are created. Additional protection is provided through an Assurance Fund. That fund compensates owners deprived of their title either because of an LTSA administration error or identity theft/fraud. The LTSA adds that if a property owner feels that their land holdings are at risk, there are simple steps to provide additional protection such as an automatic email service to your notary or lawyer when activity shows on your title. Find out more at www.ltsa.ca. | | |
| | | |
__________________________________________________________________
Hugh Message - www.HughMessage.com
Macdonald Realty 1st Pioneer, 22424 Fraser Highway, Langley, BC
.