Posts Tagged “wills”

Buy Title Insurance and Save Your Home From Title Fraud

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index2 Buy Title Insurance and Save Your Home From Title Fraud
Do Not Lose your Home to Title Fraud

In our era of identity theft, title fraud costs Canadians $300 million annually. It’s a serious problem that often impacts older adults.

What is Title Fraud?

Title fraud occurs when someone other than the lawful owner transfers the property to themselves or obtains a new mortgage to pull cash out of the house. This leaves the true owner with a mortgage registered against the property.

Scammers are attracted to higher-value properties that are already mortgage-free. These are easier for the thieves to perpetrate the fraud against. Typically the scammers will place a fraudulent mortgage against a property and disappear with the money.

No payments are ever made on the mortgage and months down the road, the mortgage company begins to attempt to collect on the delinquent mortgage and this is when the homeowner becomes aware they have been defrauded. While the homeowner is trying to prove they didn’t take out the mortgage, the mortgage company is starting to go thru the collection and foreclosure process. If you suspect that you have become a victim of mortgage fraud, contact your local police department right away.

Seniors can be popular targets for several reasons:

– Many seniors have their homes paid off, making it easier for thieves to place a mortgage on the property.

– If you are a snowbird and winter down south, having your home vacant for months makes it a target. Take precautions to ensure your home is regularly checked in your absence.

– Relatives or caregivers can take advantage of people suffering from a loss of mental capacity and forge a power of attorney to gain control of a property and then sell or mortgage the property.

With so much personal information available on the internet, it has become even easier to commit title fraud and some people have lost their homes to this crime. Do a property search at your province land registry office to ensure that the title to your home is in your name.

Protecting Yourself from Title Fraud

There are a variety of legal actions a person can take to recover from fraud, but what can be done to prevent title fraud in the first place? Everyone, especially seniors, must be vigilant.

Have a Lawyer review your real estate documents when purchasing and selling your home. Be clear about what you are signing. Legal language is confusing to anyone. Acquire title insurance when purchasing a property.

Title insurance is an insurance policy that protects your home from title fraud as well as other title problems. Buy it at the time of purchase but can be added at a later date. It is good for as long as you own the property, so it only needs to be purchased once. The cost is as low a few hundred dollars and I recommend all my clients invest in title insurance.

If you plan on living in your home for the next few years it can be worthwhile protection. There are several different title insurance companies that offer policies.

Don’t be the victim of title fraud! Your home is perhaps your largest personal asset. Don’t let anyone take it away.



homebeat ad Buy Title Insurance and Save Your Home From Title Fraud

Roy Thomas SRES® (Senior’s Real Estate Specialist) is a REALTOR® with Sutton Group Professional Realty. Since 1991, Roy specializes in helping retirees with their later in life real estate transactions. Call Roy at 902-497-3031 or contact Roy here

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Preparing A Will That Minimizes Family Drama: Part 2

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Preparing A Will That Minimizes Family Drama Part 2 Preparing A Will That Minimizes Family Drama: Part 2
Preparing A Will That Minimizes Family Drama: Part 2

For many families, the death of a loved one is followed by family squabbling over possessions. In a previous blog, we discussed the importance of having a will, which should designate who inherits certain possessions. Today we will discuss ways to simplify the distribution of your property.

What Happens To Your Property When You Pass Away

When you die, your estate goes through the legal process known as probate, which may assess probate taxes and accrue legal fees. Having a will, with an executor in place, helps the process go smoothly. if you die intestate, without a will, the court appoints an executor, at greater cost to your estate.

With careful estate planning, you can get around most probate fees by designating beneficiaries on life insurance policies and registered investments, or holding your assets jointly with someone else, so that full ownership passes to them upon death.

If you specified how you want your property distributed, a court-appointed executor gives it to the next of kin after subtracting debts and fees owed to the court. A same-sex partner or significant other has no legal standing to receive your property.

A Will makes sure that your property goes to those you want to receive it. You can even specify that money goes to a favorite charity.

Request Your Complimentary Copy of My “Preparing to Downsize” Report

If you own a considerable amount of property or other assets, you should hire a lawyer to ensure that your estate passes to your heirs with minimal taxes. For a simple estate, use a Will kit.

Simplifying Property Distribution

Your heirs may not like how things get distributed. If you own a large estate, families can argue over who gets small items that you own. Few Wills list every possession someone has.

Grieving family members may argue over a box of recipes, family photos, or a special vase you did not specifically bequeath to a child or other family member. How can you simplify your estate to prevent family drama after your death?

How can you simplify your estate to prevent family drama after your death? Below find a few tips to keep in mind.

– Routinely declutter your home, so that you own fewer possessions for your heirs to worry about. Before you donate or sell furnishings, ask your children or other family members if they want your items.

– Considering that many items in your home do not interest your kids or other heirs, do not hold on to things you don’t use.

– For other items of value, consider passing them along now so you can see them enjoying something that you love.

– To prevent arguments over heirlooms or other sentimental items, label them or at least make a list of who gets what.

– Keep your Will, power of attorney, and final wishes current.


Looking to sell your home? Give me a call today. Give me a call for experience, market knowledge, correct pricing, and a sincere interest in helping you fulfill your real estate goals.

Ready to sell your home for maximum value? Click here and schedule an appointment.

homebeat ad Preparing A Will That Minimizes Family Drama: Part 2

Roy Thomas SRES® (Senior’s Real Estate Specialist) is a REALTOR® with Sutton Group Professional Realty. Since 1991, Roy specializes in helping retirees with their later in life real estate transactions. Call Roy at 902-497-3031 or contact Roy here

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Importance of Having A Will Part 1

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The Importance of Having A Will Importance of Having A Will Part 1
The Importance of Having A Will

Few people relish the thought of dying, yet you ultimately have no say as to whether you will die or the details of your demise – even if you try to extend your lifespan by healthy living and excellent medical care. You do have some control over what happens to your assets after your passing by having a current will.

Who Needs A Will

For younger people, having a will protects minor children or special needs family members who need a guardian if the parent dies; even you have no family obligations you want to continue to take care of, a will controls the disposition of property and other items in your estate and makes your final wishes known. Anyone who has children, property, possessions of value, or a business needs a will to make sure that your estate can be handled promptly with minimal administrative costs and probate taxes.

You should draft a power of attorney for someone to handle your affairs and one to appoint someone to make medical decisions if you are in an accident or become ill. If you have special preferences about your funeral or what you what do with your final remains, you should also make your wishes known in your will.

Request Your Complimentary Copy of My “Preparing to Downsize” Report

What Should Your Will Include?

The more complex your estate, the more likely you need to have a lawyer prepare a will and help you develop an estate plan. If you don’t have much, you can prepare your own will or draft something from LegalZoom or other online services. The requirements for a legal will are rather straightforward:

– The Will, must be in writing and must be dated and signed by you, preferably in the presence of two witnesses who are not beneficiaries.

– It should state what you want to be done with at least one of your possessions after death.

– Your Will also lists the person you want to be the executor of your estate, along with the names and addresses of your beneficiaries.

– You should list all your assets and where they’re located, including property, personal effects, jewelry, animals, investments, and designate what you want to be done with each of these assets. Sentimental items or heirlooms that you want to go to a specific person, you should list these in the will.

– If you have dependents, they will specify how you want them to be provided for.

– Your Will, should list all debts and the creditors you owe, as the estate will have to settle these debts before your assets are distributed to your heirs. Certain assets, such as life insurance distributions, go directly to the heir and need not go to clear debt.

Keep Your Will Current

Once you prepare a will, you should update it frequently to make sure it reflects your current situation and wishes. If, for example, you remarry, your Will, should specify whether your estate goes to your children or goes to provide for your spouse. If you acquire additional property, you Will, should specify who gets it.

Looking to sell your home? Give me a call today. When you are buying or selling a home, don’t waste time. Give me a call for experience, market knowledge, correct pricing, and a sincere interest in helping you fulfill your real estate goals. If you are ready to sell your home for maximum value, the best place to start is by clicking here and scheduling an appointment.


homebeat ad Importance of Having A Will Part 1

Roy Thomas SRES® (Senior’s Real Estate Specialist) is a REALTOR® with Sutton Group Professional Realty. Since 1991, Roy specializes in helping retirees with their later in life real estate transactions. Call Roy at 902-497-3031 or contact Roy here

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