When you buy a property in British Columbia, you need to have it officially in your name. A real estate title helps you do so, giving you the ownership of the property.

In real estate, a title is a legal document officially proving your property ownership. Registered with the Land Title and Survey Authority, it includes valuable information like your property’s details, its registered owners, and more.

If you are planning to buy a real estate property in British Columbia, do not forget to review its title before closing the deal. It is also important to work with a lawyer who will help you analyze the items on the property title and inform you about the legal implications of your real estate transaction. These legal professionals help their clients negotiate deals and obtain title searches.

So, what is a title search?

What Is A Title Search In Real Estate?

A real estate title search is a document that provides you with information regarding all the rights and interests people have in the property you wish to purchase. It helps you make an informed real estate purchase in British Columbia. A title search contains two key sections: legal notations and charges, liens, and interests.

In the “legal notations” section, you will see important property-related details that will influence your final decision. They include any charges affecting the property you want to buy. For example, if the strata hasn’t paid for geothermal equipment, you will see this charge in the Personal Property Security Registry.

In the section about charges, liens, and interests, as the name suggests, you will see the interest people and institutions have in the concerned property. For example, a neighbor may be allowed to access certain premises of the property to access one or more amenities. Under such cases, you will see “Right of Way” mentioned in the property title. Moreover, if the property’s previous owner had lost a lawsuit, you will find the lawsuit winner’s “Judgment” against the property’s title.

 Work with your lawyer to assess such a real estate title search and make an informed decision about buying the property in British Columbia.

Information On A Real Estate Title In BC?

Everyone is aware that a property owner’s details and claim are present on its title. Along with this, here are a few important encumbrances that are often registered against a real estate title in British Columbia:

Mortgages

If the property owner has taken a mortgage(s) for the property or any loan keeping it as collateral, they will make their way to the property’s title.

Statutory Rights Of Way

These interests are placed on property by public bodies in British Columbia, such as municipal corporations or utilities. They allow these bodies to access parts of this property for statutory purposes. It is common to see statutory rights on property titles across BC. Buyers are largely unaffected by them until they seriously hamper the use of their properties.

Easements

Easements are the interests an owner may have in the property’s land if they have rights (access or encroachment) over an adjoining property as well. If you plan on buying a property with an easement in its title, clarify any potential hindrances or limits on using the property’s premises with the owner beforehand.

Pending Litigation Certificates

Issued by the court, pending litigation certificates are filed at the LTSA. They are issued when a court proceeding involving a claim on the concerned property or the land on which it is built has begun. If you see such a certificate on a property’s title, it may not be transferred to you until the court issue is resolved. Work with your lawyer and the property’s seller to clarify these matters.

Caveats

In this context, a caveat refers to a legal notice that prevents the transfer of a property’s title. Such notices are registered based on court requests and may hamper your property purchase in British Columbia. Unless removed by the petitioner, caveats often last for sixty days after being registered. Address these matters with your lawyer’s help before conducting a real estate transaction in British Columbia.

Receive Legal Help With Title Research And Transfer From Cube Law

If you are planning to purchase a property in British Columbia, Cube Law will help you with title search assessment and systematic transfer of title. Our lawyers will guide you throughout your real estate deal and work in your best interest until it is closed. From assessing important legal documents to negotiating with all parties involved, our legal advice will help you at every stage of your property deal in British Columbia.

(Please note that this content is only written for informative purposes. This is no legal advice from Cube Law.)