Parcel Register* vs Property Title Search: The Key Differences
In a fast-moving real estate market, having access to the most current, complete and reliable data keeps you agile and competitive. When working on a deal, any number of things relating to property title issues can create snags. Being able to quickly investigate a subject property ensures that you can efficiently provide your clients with the best possible service and this results in happy customers and increased profitability.
When investigating a property, the Parcel Register* (accessible in the GeoWarehouse Store) provides the most accurate, complete, and current registered data as it relates to a particular property. This is because the data is derived directly from POLARIS (the Province of Ontario Land Registration System).
When a transfer, charge, discharge, or other document, affecting a particular property, is registered it is entered into POLARIS and appears on the applicable Parcel Register.*
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 not a Property Title Search but rather a major component of one. A Property Title Search will not only include reviewing the Parcel Register* but also examining any registered instruments and plans.
The Parcel Register* is a high-level snapshot that shows the property’s ownership, solvency and history. The Parcel Register* empowers you because the data helps you to identify opportunities and enables you to quickly identify potential challenges that may impact a pending deal.
Through a Parcel Register* you can view a property’s:
- Legal description
- Current homeowner(s)
- Type of ownership
- % of ownership
- A history of charges, transfers, discharges, and documents registered against the property.
These include changes in property ownership, mortgages, liens, easements and more.
In some cases, the above information is enough to answer the questions that led you to request the Parcel Register* in the first place. In the event the Parcel Register* leads to additional questions, you can dig deeper and look at the registered documents by viewing the document images. In future blogs we will take a deeper dive into instrument and plan images, two other particularly important assets available to you in the GeoWarehouse Store.
Obtaining a Parcel Register* is easy. You can access the Parcel Register* through a Quick Link from within a Property Details Report or by clicking on Shop in the top right upper navigation menu from within GeoWarehouse. To view our complete tips and tricks for requesting a Parcel Register* that includes step-by-step instructions, screenshots and imagery, click here to watch the video or click here to read the PDF.
For more information about GeoWarehouse, the GeoWarehouse Store and/or Parcel Registers* please visit geowarehouse.ca.
*An official product of the Ontario government pursuant to provincial land registration statutes.