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|Real Estate Update|
Centralized Email Access point for LRO no. 66/80 Toronto - starting January 29, 2018
The Toronto Land Registry Office has been chosen by the Director of Titles to participate in a pilot project starting Monday January 29, 2018. TLA members are invited to access certain services at the LRO via a new centralized email address: LROclientSubmit@ontario.ca.
Are you ready for the new Teraview?
See the roll out schedule to find out when Teraview® on the Web is coming to your area and visit to request your RSA token.
RSA SecurID is an authentication technology that uses both hardware and software based Tokens. The Tokens generate an authentication code at fixed intervals which is then used to provide secure login access. Teraview® on the Web will be using an RSA token value along with your Teraview® password when you Sign Electronic Instruments for completeness / release.
You will be able to request either a physical token or a soft token for your smart phone for each Teraview® User in your account and should make these arrangements before the move to Teraview® on the Web.
Roll out begins in Toronto on February 12, 2018.
Update re Solicitor Statement 9185
On January 4th, the FOLA Real Estate Committee met with representatives from the Ministry of Finance, the Law Society, LawPRO and OBA, in an attempt to clarify the Ministry’s position on Statement 9185 and to express its concerns with it. The Ministry confirmed its intent that the Statement is to be completed in all Transfers. However, the Ministry is taking concerns regarding the Statement under advisement. In the meantime, the Ministry has confirmed that Statement 9185 is not a mandatory statement in Teraview® and that Transfers will be registered without completion of this Statement. Until the concerns with respect to the Statement are resolved, the Ministry has advised that it will not be auditing Transfers to confirm completion of the Statement and will not be imposing any penalties for non-completion.
An update will be provided on this issue once a further response from the Ministry has been received.
Letter to Lenders re First Canadian Title
The County of Carleton Law Association's Real Estate Committee has prepared the attached letter that it would like to send to lenders outlining the concerns raised by First Canadian Title's practises.
Standardized Real Estate Closing Documents
The TLA is pleased to endorse the use of Standardized Real Estate Closing Documents (see below). The Working Group on Lawyers and Real Estate initiated this project, which has also been endorsed by FOLA (Federation of Ontario Law Associations), in their mandate is to improve the business of law for the private bar. These documents, if used regularly and appropriately, are a step toward that goal.
Lawyer's Direction Re Funds (Ms Word)
Lawyer's Undertaking (Ms Word)
Vendor's Closing Certificate (Ms Word)