Edited by Manuel A. Martins

Contents

  • Buying Real Property And The Title Search
  • Reserve Land Tenure: An Introduction


Buying Real Property And The Title Search
 By: Steven R. Willard

The title search is one of the most important components in looking at a property before you buy it.  The Province of Ontario maintains records regarding every piece of property and these records affect what you are buying.  A title search speaks to a number of specific issues that affect the property.  First and foremost, it will tell you who owns the property, so you know who you should be dealing with to prepare an agreement of purchase and sale.  Secondly, the title search will give you information about the nature of the property.  This will include information on the size of the property, previous ownership of the property (for example, you will want to know that forty years ago the property was used as a gas station), and what currently affects the title of the property.  This may sound like "legalese", but, for example, the title search will tell you if there are mortgages registered on title that will need to be paid out prior to closing.  This may have some bearing on your purchase price.  For example, if a mortgage is outstanding on title, it could show that the seller owes more money than you are offering to pay for the property, and this may create a problem.  Further, there may be items registered on title that suggest that the seller is in trouble with the property.  These may include notices of sale for unpaid municipal taxes or construction liens.  Both of these items will certainly affect how the seller approaches the agreement of purchase and sale.

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Reserve Land Tenure: An Introduction
 By: Cam Cameron

First Nation Land and Development

6.5 million acres (2.7 million hectares or 26,304 km²) is the total estimated land reserves that First Nations ("FN") hold.  This land is integral to FN social, cultural and political life, as the remaining land base of Canada's First Nations.  It also represents an enormous economic asset. These lands contain vast amounts of arable soil, hydro resources, commercial lumber, oil and natural gas deposits, minerals and gemstones.  A number of reserves also have the added benefit of "location".  Many are in close proximity to major cities such as Vancouver, Edmonton, Calgary and Montreal, as well as other key economic centres like Kamloops, Kelowna and Courtenay-Comox.

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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.