Enhance your due diligence with Title Searches

Mortgage brokers in British Columbia have access to purchase Title Searches and the ability to incorporate this data directly into PurView property reports. We want to ensure you’re familiar with all the data points included when you purchase a Title Search so you can use the data to its fullest. In this blog we’ll review what’s included when purchasing a Title Search, some key benefits of purchasing a Title Search and how you can purchase this document to supplement the data included PurView property reports.

What data points are included in a Title Search?

A Title Search is the official report of record for a title to land in British Columbia as maintained by the Land Title and Survey Authority of British Columbia (LTSA). Title Searches are beneficial to mortgage brokers as they detail the history of ownership, along with the registration and discharges of any mortgages when you include deleted instruments, liens or other types of encumbrances that can be beneficial to know at the start of the application process. Title Searches are delivered as an electronic report and presents the following data points when purchased:

Ownership information – Includes information such as current registered owners names, occupation and their interest in the property. Ownership information can uncover correct property owner details to avoid any missing gaps within the adjudication process. This information is crucial to ensure that you have the names identified exactly as they are on title.
Title checks – Checks for activity on title such as active mortgages and liens, as well as recent sale transfers. This information is important as it will tell you when an activity is registered on title which can enable users to determine if the balance stated is consistent with the balance it should have been when compared to the registration date and amount.
Title information – View data from title including the title identification number, parcel status and the full legal description of the property.
Registered mortgages – Includes registered mortgages on title and the owner of all active mortgages (where applicable).

What would make me want to purchase a Title Search?

The information provided in a Title Search helps you gain greater insight into a property’s details and to confirm that all of the registered owners have been included on title. When you purchase a Title Search you will have a complete report of all registered instruments, some of which may delay or prevent a deal from closing. It’s important to confirm that the instruments which may affect the property have been properly removed from title and pulling a Title Search is the perfect way to confirm that this has been done and discloses any impediments that could prevent the transaction from closing.

When you couple PurView’s authoritative land registry data with a Title Search you’ll have access to the full picture of a property and borrower that will give you the confidence that you’re moving forward with a deal that will likely close.

How can I purchase a Title Search?

A Title Search can be purchased by active subscribers within PurView. When you request a British Columbia property report, you have the option of purchasing the Title Search and the data will be directly incorporated into the property report. You will also get a separate stand-alone copy of the Title Search.

We created a series of videos on how to purchase a Title Search. Check out our videos on BHBTV to learn more!

If you aren’t a PurView user today and would like to purchase a Title Search as a mortgage broker, click here to purchase a subscription!

If you have any further questions about Title Search documents available for British Columbia properties, please do not hesitate to contact us at 1.855.787.8439 or via email at purview@teranet.ca.