Land Titles and Registration Systems

A system that creates ownership certificates effectively guaranteeing a property's ownership validity.

The principle that registered interests are virtually unchallengeable, except for a few specific situations.

All interests listed on a title certificate are considered valid.

Only interests listed on the title certificate are considered valid; you don't need to look elsewhere for other claims.

A system that tracks ownership history of the real estate through legal documents. Risk remains with buyer.

History of property ownership transfer.

Improper removal of a party from the title, potentially leading to claims against the assurance fund.

Insurance that compensates for errors in property transactions.

A legal principle delaying the full effect of the indefeasibility principle for certain unregistered interests.

A person who fraudulently acquires a property interest.

A person who does not transact with the fraudster and holds an interest.

A lease that is not registered, but may still be valid against the property.

Acquiring land rights through long-term use or occupation.

A right of use on property that is available to the public.

A legal document allowing a court judgment to be enforced, i.e. through property seizure.

Unpaid taxes or debts that could result in property seizure.

The buyer is responsible for checking the condition of the property before purchasing it. The seller has no obligation to disclose hidden defects.

A flaw in the property that the buyer wouldn't find when inspecting it. They are often dangerous or make the property unusable.

A legally binding contract that describes the terms for buying and selling land. It must be in writing.

A requirement that must be met before a contract is completed. E.g., a home inspection or securing a mortgage.

A contract that has conditions which if not met, releases both parties of their obligations.

The final stage of a real estate transaction where the buyer pays the purchase price and the seller transfers ownership.

Transfer of land ownership for a price.

A legally binding agreement to transfer ownership of land, and must be in writing.

The mortgagee receives a charge on the land, acting as a security interest for the loan.

The mortgagor retains ownership of the land, but the title is subject to the mortgagee's charge.

The mortgagor's right to regain full ownership of the land by repaying the loan, even after the due date.

A mortgage taken out on land already subject to a prior mortgage.

The process by which a mortgagee takes ownership of the land due to the mortgagor's failure to repay the loan.

Subsequent mortgages are vulnerable to foreclosure on the prior mortgage, potentially losing their interest in the land.

The mortgagee can transfer their interest to another party, becoming the assignee.

The mortgagor remains liable for the debt even after selling the equity, unless the mortgagee waives their rights.

There are two methods for transferring real estate ownership: Deed of Conveyance (used in registry systems) and Transfer (used in land title systems).

The purchaser can sue for the value of the expected property or seek specific performance, requiring the actual transfer of the land instead of monetary compensation.

It allows the buyer to sell the land to recover unpaid debts owed to them by the seller.

This is an interest that allows the seller to sell the property to recover unpaid debts from the buyer.

It's an interest in land that secures a loan, allowing the lender to claim the property if the loan isn't repaid.

The person borrowing the money and granting the mortgage interest in their property as security.

The person lending the money and receiving the mortgage interest in the property as security.

It's a security interest that allows the mortgagee to claim rights against the property if the loan is not repaid.

The mortgagor loses the property, and subsequent mortgagees lose their security, potentially leaving the lender overcompensated.

A court-ordered sale of a mortgaged property to satisfy the outstanding debt.

A contractual right that allows the mortgagee to sell the property directly to recover the debt.

First Nations face challenges securing loans because reserve land cannot be directly mortgaged.

Long-term leases of reserve land can be assigned to a third party and then mortgaged, allowing for financing.

The ability to mortgage a leasehold interest under Aboriginal title is unclear.