What You Need To Know About the Land Titles Assurance Fund
What Is The Land Titles Assurance Fund?
The Land Titles Assurance Fund (LTAF) was created under the Land Titles Act to compensate people for certain financial losses due to real estate fraud, omissions and errors of the land registration system.
How Quickly Will I Be Compensated?
New legislation makes it easier for consumers to access the fund. LTAF will be immediately responsive to each individual homeowner who has suffered a loss in a clear case of fraud. For most straightforward cases of fraud, title can be returned and a decision regarding compensation made within three months.
What Claims Qualify for Coverage?
Claims arising out of the following may qualify for compensation from the Fund:
- Fraud, in certain circumstances
- Errors or omissions of the land registration system
- Errors in recording by land being brought under the act
- Errors in recording an instrument in the automated land registration system.
What Is Covered by the Fund?
The Fund may award compensation for the following losses:
- Financial losses as a result of a fraud or error
- Reasonable legal costs related to the claim
- Other reasonable costs related to the claim.
Do I Qualify For Compensation?
To decide if or when you should make a claim, you may want to get the advice of a lawyer. You or your lawyer can also call the local Land Registry Office or the office of the Director of Titles (contact info below) to see what can be done about your situation, and how you can make a claim for compensation from the Fund.
In order to be eligible for compensation from the Fund, you must ensure that:
- Your claim is one that qualifies for coverage.
- The time frame for filing a claim has not expired. Your application must be made within six years from the time of having suffered a loss. If you have any questions or concerns about your timelines for filing your application, you should speak with your lawyer or please contact the office of the Director of Titles for more information.
For more information on the Land Titles Assurance Fund, you can download this brochure: Compensation for Victims of Real Estate Fraud or contact:
Office of the Director of Titles
Ministry of Government Services
Policy and Regulation Branch
Suite 420, Box 117
20 Dundas Street West
Toronto, Ontario M5G 2C2
Telephone: 416-314-4882
Fax: 416-314-4878
E-mail: Director_of_Titles@ontario.ca
