Parking pad panic: Real life stories of TitlePLUS claims

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When homeowners went to sell their condo they discovered that the parking spot they believed they had title to was still in the name of a previous owner because of an oversight by a lawyer.

Thankfully, the homeowners had a TitlePLUS policy with Legal Service Coverage. TitlePLUS provided an undertaking to the buyers to fix the problem so the sale could close and afterward retained counsel to contact the previous owners to get their cooperation with an application to vest ownership of the parking spot with the new buyer.

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Article highlights: 1.For funds to be truly irrevocable, you need a PCRN. Anything else is a risk....