A buyer is purchasing a commercial property in Ontario. Compared with the Registry system, what protection does the Land Titles system give the buyer?
Correct Answer
D) A parcel register backed by the Land Titles Assurance Fund
Under the Land Titles Act, the land registrar keeps a parcel register for each property, and a person wrongfully deprived of an interest through fraud or a registry error, who cannot otherwise recover, can claim compensation from the Land Titles Assurance Fund (ss. 54, 57). The Registry system has no such fund: it records instruments, and the searcher must prove a chain of title over the 40-year title search period (Registry Act s. 112). No extra registration step is required for commercial property.
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