So you want to buy a beautiful new home and you need to know it is free and clear of debts and issues. As a qualified prospective purchaser you will want to know with certainty that there are no title insurance mysteries. Whether you plan to purchase a condominium or a house, you will need to be sure there are no debts on the title to the desired property. Liens, certificates of pending litigation and judgments against a property can become a financial problem for the new owner.
To avoid becoming responsible for debts of the current or former owner you should conduct a full title search to be sure the property is free and clear of debts; current or pending. A Writ Search can be conducted on the name or reference number of the debt as registered with the municipality. A Province-wide search can also be completed on the owner – using their full name or company name. If the property is owned by a company then you may want to utilize the company name search. A property search can also be performed on the name, address or PIN # (Property Identification Number).
Title Search Professionally Managed
You should be sure that your title search is professionally completed and that the searcher of title is fully licensed and insured. When you choose to have a title searched is up to you. Perhaps you will want to know once you have a tour of a potential property for purchase, whether or not the title to the home is free and clear. You could also have a title searched conducted upon closing. This search may be the responsibility of your lawyer.
Teraview / Teranet Inc. offers a variety of options for title searches. For a listing list of registered conveyancers visit and review Ontario Association of Professional Searchers of Records.
Complete Lien Search
Home purchasers may want to have a lien search conducted to ensure there are no construction liens, pending judgements or current civil actions against the property seller. If the seller is involved in lawsuits, whether personal, business related or those directly related to the property, these matters could potentially effect the title to the property. Regardless of the cost for a Personal Property Search or Writ Searches on the owner and Province-wide searches on the property owner and their company name. To spend some money, on a complete search / full search on the property seller, the property itself and the property seller’s business, will save much money later on when you purchase your prospected home.