Twenty years ago, if you wanted to access a property title search you had to visit the appropriate Land Registry Office for the property in question. You had to plan your trip and make sure that you went during operating hours.
Today, however, that has changed. Technological advances enable you to access title searches online from any location and at any time of day.
This is a gamechanger for mortgage and real estate professionals. A title report — also called a Parcel Register* — reveals critical property information that you must know to ensure a deal is valid and low risk, including:
- The PIN (Property Identification Number).
- The legal owners on title.
- The property’s legal description.
- Encumbrances, such as mortgages, notices, or liens.
- Registered transfers, plans, and easements.
- And more…
This information helps spot fraud flags and potential problems with the title ahead of time so you can stop a bad deal early or clarify information that could disrupt the deal later on.
On the Purview blog, we are digging deeper into title searches and how to access them online. Read it here: https://www.purview.ca/property-title-search-capabilities/
* An official product of the Ontario government pursuant to provincial land registration statutes.
