Ontario Real Estate Licensing Exam Practice · Question
What is the primary role of a 'title search' in a residential real estate transaction in Ontario?
A title search is a crucial step conducted by the buyer's lawyer to confirm who legally owns the property and to uncover any registered claims, liens, easements
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Question: What is the primary role of a 'title search' in a residential real estate transaction in Ontario?
Answer options:
- To determine the current market value of the property ✅ To identify the owner(s) of the property and any encumbrances against it
- To assess the structural integrity of the home
- To verify school district attendance boundaries
Correct answer: To identify the owner(s) of the property and any encumbrances against it
Explanation: A title search is a crucial step conducted by the buyer's lawyer to confirm who legally owns the property and to uncover any registered claims, liens, easements, or other encumbrances that could affect the buyer's ownership or use of the property.
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