LAW 603 Lecture Notes - Lecture 10: Deeds Registration, Real Estate Broker, Title Insurance
11 Dec 2016
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Document Summary
Chapter 16 real property: sales and mortgages. Registration system: registry system, land titles system, unregistered interest. Land sales: agreement of purchase and sale, closing, risk management, remedies. Mortgages: nature of mortgages, terms, remedies. Definition: registration system documents the existence of interests in land. Risk management: it is important to keep track of all interests in land; when you buy a land you want to know the history of the land. Two types of registration system: registry system (deeds registration system) It is used in four atlantic provinces and parts of ontario and manitoba. Definition - provides an opportunity to inspect and evaluate documents that may affect real property. Search title to establish chain of title: ensure that you are at the end of a goof chain of title. Chain of title a series of transactions in which ownership was validly passed from one person to the next.
