This week’s decision by the Ontario Court of Appeal in the case of Susan Lawrence, a Toronto woman whose home was fraudulently sold without her knowledge, sets an important precedent but should not be seen as the final chapter on the issue of real estate title fraud in Ontario, says First Canadian Title.

The title insurer says the decision adds an additional level of protection for homeowners in the province; however, consumers should not become complacent. Law enforcement, lenders and insurers are working hard to deter the perpetrators of these crimes.

As a provider of title insurance, First Canadian Title says it prevented more than $20 million in potentially fraudulent real estate transactions in 2006. As many as 52 transactions were “red-flagged” throughout the year by the company’s underwriting department and later deemed potentially fraudulent through internal investigations.

First Canadian Title is reminding consumers that despite recent legislative and legal decisions in favour of homeowners who fall victim to real estate fraud, there are still few provisions to prevent these crimes from continuing to occur.

Despite the additional protection consumers will have in Ontario as a result of the court’s decision, the insurere says title insurance remains a smart, affordable way to protect homeowners and their most valuable asset.