Canadian Legal FAQS- Real-l-05
 
 

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What is the Insurance Principle?

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The Insurance Principle means that an insurance fund is in place to compensate anyone who suffers as a result of a mistake being made concerning the validity or accuracy of a title. The idea behind the Torrens system is that the registry must guarantee the accuracy of every title to land. If, as a result of human error, there is a mistake about the title to a piece of land and someone suffers a loss as a result, they will be compensated by the fund.

September 1996

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Content last reviewed 20:29, 16 October 2008.
 
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These FAQs cover the law at the time these questions were prepared. Every effort has been taken to ensure the accuracy of these FAQs. However, laws change and every situation is different, so do not take action using this information without consulting a lawyer.