In Ontario's Land Titles system, which document provides the most reliable information about a property's legal description and ownership for valuation purposes?
Correct Answer
C) Parcel register
The parcel register in Ontario's Land Titles system provides the most reliable and current information about legal ownership, property boundaries, easements, and encumbrances. This official document is essential for accurate property valuation and legal verification.
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In Ontario's Land Titles system, how does a property's title status affect its valuation compared to properties under the Registry system?
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In the cost approach, if a building has a replacement cost of $400,000, land value of $150,000, and total depreciation of $80,000, what is the estimated property value?