How big a problem is real estate fraud in Canada?
Real estate fraud is a crime that the banking industry, police, governments and other organizations involved in real estate transactions take very seriously. Although there is no central organization that collects statistics nationally there are some indications that the number of incidents is increasing. While even a single incident is one too many, it is important to put the issue into perspective. There are hundreds of billions of dollars in mortgages held by millions of Canadian homeowners and in the vast majority of cases these mortgages are not affected by real estate fraud. What can you do to protect your property? The land registration system in Canada has a proven track record for security, accuracy and efficiency. Property owners can trust in a constantly improving system that has introduced automation, electronic registration and enhanced security to land registration. The system is built on 200 years of legal and regulatory best practices, using the best technology currentl
