As a PurView user, you have access to the most authoritative and comprehensive property data, which can be leveraged in your daily business. In an effort to help you find further success in your business, PurView offers Parcel Registers.
As an official product of the Ontario government, a Parcel Register is an electronic report that presents a property’s legal description, the PIN (Property Identification Number) and the registered owner(s) of the property. This valuable report also offers further insight into the history of ownership, along with the registration and discharges of any mortgages, liens or other types of encumbrances.
Here are 3 key ways you can leverage a Parcel Register to optimize your due diligence efforts:
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Historical Mortgage Information
The information provided in a Parcel Register can provide you with historical information on a property. You will be able to determine if there is an existing mortgage on a property, if there has been a discharge and more.
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Title Verification
With the rising rates of title fraud, a Parcel Register is an essential tool in validating Title information when conducting your business. This report provides a history of ownership changes, allowing PurView users to verify current ownership and review any historical transfers.
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Identifying Liens and Encumbrances
A Parcel Register contains the legal description of the property, which defines its boundaries, size, and location. This report can also provide insight on whether there are any liens or encumbrances on a property. This allows you to fully understand the property and address any potential concerns early on in the transaction process.
A Parcel Register, available in PurView, can help you make more informed decisions, reduce risk, save time. Not only does this report ensure that you are fully conducting your due diligence on thoroughly understanding the property, but this can ultimately lead to more successful, seamless and profitable transactions in your business.
How to purchase a Parcel Register
Mortgage Brokers and Lenders can order Parcel Registers for Ontario properties through PurView. Upon ordering, the Parcel Register will be available for download in your browser and will also be delivered to you via email as a PDF.
If you have any further questions, please do not hesitate to contact us at 1.855.787.8439 or via email at purview@teranet.ca.
