REAL 4840 Lecture Notes - Lecture 2: Title Search, Township, Title Insurance
27 Nov 2017
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Lecture #2: the property & the planning act. Title searching: at the registry office, you can do a title search or online. If you are a lawyer for real estate you have access to that information. Figure out exactly what you are buying: descriptions have become more refined. Every identified property has a pin: this tells you how the property is properly described, you can determine this information 4 different ways, municipal address, names of owners of property, with pin. Legal description (lot/con: all properties can be traced back with a concession/lot. Subdividing a property: developer must follow steps to get municipal approval, must show a plan of subdivision ultimately gets approval of municipality. Show streetscape; visual elements of street (road, adjoining buildings, sidewalks, furniture, trees, open space etc. ) Show possibly certain part lands; pieces of subdivision dedicated to public use: must fit into overall public scheme (lot size requirements etc. )
