Title is a legal term for an owner's interest in a piece of property. It may also refer to a formal document that serves as evidence of ownership. Conveyance of the document may be required in order to transfer ownership in the property to another person.

When you are setting up a new home mortgage you will deal with the lawyer's conveyancing assistant. This is the person that does the actual work with preparation of the documents to go to Land Titles.

Insurance requires that you have an interest in a property to place insurance on it. It can be the person who lives in the house and the title is registered in that person's name. It can be the mortgage company who places the insurance to protect their interest but this is a more unusual occurrence.

With the housing market being rather challenged we are seeing more "tenant at will". This is when you are in the position of renting to own or are in the process of moving into a property but the final title has not been changed to your name. You can usually insure the dwelling or property but it does have to be considered by the individual underwriters.

The title on a vehicle is set up through the registration of the vehicle. The person who owns or has a financial interest in the vehicle needs to place the insurance.