Having easy access to the most current and reliable property data and intelligence is crucial for any real estate professional. From property ownership verification to identifying potential risks, ensuring due diligence at every step can save you and your clients from unexpected legal complications and delays. In GeoWarehouse, two essential tools to help you be the trusted advisor for your clients are the Parcel Register* report and the Title Check feature.
Title Check Tool and Parcel Register Report
The Parcel Register is a registered document that outlines all the pertinent details of the subject property where the Title Check indicates at a quick glance if there are any of the most common encumbrances registered on Title. Depending on the outcomes, these tools may lead you to complete a Property Title Search, which is the full workflow of conducting a detailed investigation on a property’s legal status.
The Parcel Register* has often been thought of and referred to as a Property Title Search by real estate sales professionals. The Parcel Register* is, however, not a Property Title Search but rather a major component of one.
Title Check Feature: Early Risk Detection
The Title Check feature works as an immediate scan of the property’s title, designed to identify any red flags before diving into more detailed research. It shows you instantly, through the Title Check + Parcel Register* report, key risks associated with the title search, such as:
- Active Encumbrances on the property
- Unresolved liens
- Other claims that could interfere with a property transaction
It’s perfect when you need a fast, preliminary assessment of a property, allowing you to spot potential risks early in the process. If the Title Check flags any concerns, you can proceed with a more in-depth investigation by purchasing the Title Parcel and accompanying reports from the GeoWarehouse store.
Read more on Why you should leverage the Title Check feature! – GeoWarehouse.ca in our other Title Check Series.
Parcel Register: The Quick Overview
The Parcel Register* is sourced directly from POLARIS (Ontario’s official Land Registration System), this document provides a high-level summary of critical property details, including:
- The legal description of the property
- The PIN (Property Identification Number)
- The current owner(s)
- The type and percentage of ownership
- A history of charges, transfers, discharges, and other documents registered against the property (e.g., mortgages, liens, easements)
You can think of the Parcel Register as a snapshot of the property’s current legal standing which enables you to quickly verify key details regarding the subject property.
Property Title Search: The Complete Due Diligence Workflow
The Property Title Search is not a single tool, but rather the entire workflow of thoroughly investigating a subject property. It often begins with the Title Check Tool and may involve a Parcel Register, but it goes further by examining additional reports and documents.
Depending on what the Title Check and/or Parcel Register reveal, you may need to access other registered instruments (e.g., mortgages, liens, easements) and plans to ensure there are no hidden legal or financial issues affecting the property. These documents are available through the GeoWarehouse store and include: Instrument Images, Plan images showing property boundaries and easements, and other relevant documents that clarify the property’s legal history.
The Property Title Search process of conducting comprehensive research is also referred to as due diligence. It’s a step-by-step investigation, ensuring that any potential legal roadblocks are uncovered and resolved before you move forward with a transaction. Although many real estate lawyers conduct this at the end of the transaction, by being proactive and ensuring you know all the details, you are better prepared to have your clients navigate the transaction.
When to Use Each in the Real Estate Process
- Use the Parcel Register when you need a basic but thorough overview of a property’s legal status. It’s the quickest way to verify key property details and spot any obvious issues.
- Use the Title Check when you want a quick signal for risks like encumbrances or claims against the property. This is ideal for initial assessments.
- Complete a Property Title Search when you need to go further, investigating registered instruments and plans that could reveal deeper legal issues. This is essential for more complex transactions or when the earlier steps flag potential risks.
Accessing These Tools and Completing Your Property Title Search
Both the Parcel Register* & Title Check + Parcel Register* packages can be accessed easily through GeoWarehouse store. If a deeper investigation is needed, you can then purchase additional reports like instrument or plan images, completing the Property Title Search process.
Next Steps: Dive Deeper into GeoWarehouse
Now that we’ve clarified the differences between these three essential tools, our upcoming blog series will dive into practical steps on how you can master the Property Title Search process based on your real estate workflow.
In the meantime, we’ve curated an exclusive training series to help you get started. Click here to sign up for any of our sessions, or register for our focused training on Mastering the Title Check Tool.
