Under Ontario's Land Titles system, what is the key advantage for mortgage lenders compared to the Registry system?
Correct Answer
C) Government-guaranteed title accuracy and priority
In Land Titles the province maintains a register of ownership and registered interests that parties can rely on, and a person wrongfully deprived of an interest through fraud or error in the register can seek compensation from the Land Titles Assurance Fund. A lender can therefore rely on the register for title and the priority of its charge instead of investigating the whole chain of title, as it must under the Registry system.
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