Humber/Ontario Real Estate Course 4 Exam Practice

Lawyer Martinez is conducting a title search for Buyer Anderson. Which information could Lawyer Martinez obtain?

1. The assessed value

2. Unpaid mortgages

3. Zoning compliance

4. Registered deeds

5. Property insurance details

6. Any registered executions against the seller

The correct answer is: Unpaid mortgages

Lawyer Martinez, while conducting a title search for Buyer Anderson, would predominantly be able to obtain information regarding unpaid mortgages. Title searches are specific investigations into the chain of title of a property and are designed to disclose any claims, encumbrances, or liens on the property, which would include any unpaid mortgages. When a title search is conducted, the lawyer reviews public records to discover any existing liens against the property; this includes mortgages that have not been satisfied. This information is crucial as it can impact the buyer's decision, given that any existing mortgage might have to be dealt with upon taking ownership of the property. In contrast, while the other options like assessed value and zoning compliance may provide valuable information about the property, they are typically not acquired through a title search. Registered deeds would provide ownership details, but they are not necessarily indicative of problems like unpaid debts. Property insurance details are private and not part of the public records accessible during a title search. Lastly, while registered executions might be relevant, they represent a specific type of legal action and may not always be included in a standard title search unless explicitly relevant to the transaction. Thus, unpaid mortgages remain a key focus of the title search process.