Module 4 part 2 Flashcards
Two land registration systems
Registry system
land titles system
Registry system prevailed in
S. ontario
land titles system prevailed in
n. ontario
Land registration is administered by
Real Property Registration Branch
Min. of Gov and Con Services
Registrar maintains and guarantees title
land titles system
Registrar does not verify title
Registry system
E-registration involves
POLARIS
Teranet
System will disappear from Ontario
Registry system
Parcelization process is
organization of property by land ownership
Tract indexing
Abstract books are indexed under the land description
3 principles of the LTA
Mirror
Curtain
Insurance
Under the land titles no interest
other than those set out in the register can affect land
land can be converted from R->L through a process called
first application
Major difference bw R & L systems
RA operates using geo location, LT, uses assigned parcel #s
Mirror principal
Register of title is a mirror that accurately reflects a title
Curtain principal
register is the sole source of info for proposed buyers
Insurance principal
anyone who suffers loss through human error or flaws in title, is compensated
Land Titles Assurance Fund
People that lose ownership through errors or fraud are entitled to compensation
Person claiming they are entitled to compensation must apply to
the director of titles
Administrative conversion of registry to qualified land titles is a part of
the POLARIS automatic process
Land titles coversions accounts for all claims outstanding during the
40 year search period
To establish ownership under the new POLARIS process how many years or deeds are used?
10 years or the last 3 deeds
% of land in the registry system that was converted to the LTA system
35
LTA is issued when
land titles were brought by way of first application
