Humber/Ontario Real Estate Course 4 Exam Practice

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Why must buyers review the title search results with their lawyer?

To ensure there are no liens on the property.
To confirm the property is not in a flood zone.
To verify zoning compliance.
To check there are no unpaid taxes.
To ensure the buyer understands easements.
To validate boundary disputes are resolved.

The correct answer is: To ensure there are no liens on the property.

Reviewing the title search results with a lawyer is essential because it helps buyers identify any liens that may exist on the property. Liens can affect ownership and could require payment before the property can be transferred or sold. By understanding the status of any liens, buyers can avoid future legal complications and ensure that they are making a sound investment. While verifying zoning compliance, checking for unpaid taxes, ensuring there are no easements, and resolving boundary disputes are all important considerations when purchasing a property, the primary purpose of the title search is to reveal any financial encumbrances, such as liens. Each of these other factors is relevant to real estate transactions but does not directly fall under the scope of a title search in the same way that liens do. Therefore, reviewing the title search primarily focuses on identifying existing financial claims against the property, which is why this aspect is particularly emphasized when discussing the importance of the title search with legal counsel.