Humber/Ontario Real Estate Course 3 Exam Practice

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What does a title search by a lawyer typically include?

Non-title research like work orders and deficiency notices
Spousal consent is irrelevant for matrimonial homes
Mortgage discharge issues are not crucial for closing
Right-of-way discoveries are not critical for closing dates
Verifying only the current owner's information
Ensuring property taxes are paid

The correct answer is: Non-title research like work orders and deficiency notices

A title search conducted by a lawyer is a comprehensive examination of various factors that can affect the ownership and value of a property. Among the essential elements of a title search is non-title research, which includes looking into work orders, deficiency notices, and other encumbrances that could impact the property. This helps ensure that the property is free from hidden liabilities or restrictions that could complicate transaction processes. Non-title issues are crucial, as unresolved work orders or deficiency notices may require attention before closing. Addressing these matters safeguards both the buyer's interests and the seller's obligations in the transaction. Understanding the entire landscape of the property, not just the title, is vital for a secure and successful property acquisition.