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Completing your due diligence is essential in your business – especially in today’s current climate. As an additional tool for optimizing your due diligence efforts, Alberta Mortgage Brokers have access to Title Certificates. Delivered as an electronic report, Title Certificates can further help you dig deeper into a property’s details and gain a greater understanding of ownership information, legal encumbrances registered on title, charges that may be on title, and more. This report offers critical property insight that is essential in thoroughly understanding the property you are working with, and ensuring there are no underlying issues when completing your business.

Understanding the Alberta Title Certificate

A Title Certificate is a legal document that serves as a record of property ownership, including legal interests, encumbrances registered against title and acquires the registration number for any charges on the title. In Alberta, this certificate is a crucial component of property transactions, allowing mortgage professionals to verify property ownership and understand any potential financial or legal issues associated with the property. The Alberta Title Certificate includes essential information such as:

  1. Current Ownership: The certificate provides details about the current registered owner of the property. For mortgage brokers, this information is invaluable when assessing loan applications and ensuring that the property is eligible for mortgage financing. It is also essential in mitigating fraud.
  2. Legal Description: It contains a legal description of the property, including boundary details and land descriptions. This information is critical for accurate property identification and boundary verification.
  3. Encumbrances: The certificate lists any registered encumbrances on the property, such as mortgages, liens, easements, or other legal claims. Mortgage brokers can use this information to assess the financial history and legal standing of the property.

Along with PurView’s land registry data offered to Alberta mortgage brokers, you’ll have the complete and authoritative property insight you need to conduct your business thoroughly and effectively. Want to learn more about the Property Reports offered to Alberta mortgage brokers? Check out this educational video for more insight.