In Ontario's Land Titles system, what document provides evidence of ownership for commercial real estate?
Correct Answer
C) Parcel register
Under Ontario's Land Titles system, the parcel register maintained by the Land Registry Office provides conclusive evidence of ownership and interests in the property. The government guarantees the accuracy of information on the parcel register.
Why This Is the Correct Answer
The parcel register is correct because under Ontario's Land Titles Act, it serves as the conclusive evidence of ownership and registered interests in land. The government guarantees the accuracy of information contained in the parcel register, making it the definitive source for ownership verification. Unlike other documents that may provide evidence of ownership, the parcel register is maintained by the Land Registry Office and provides state-backed certainty of title, which is particularly important in commercial real estate transactions where ownership clarity is paramount.
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A buyer is purchasing a commercial property in Ontario. Compared with the Registry system, what protection does the Land Titles system give the buyer?
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