(Ontario)
Question:
If a knowledgeable buyer/client in the preprinted clause 10. Title.
scratched out and initialed the following paragraph:
“(a) any registered restrictions or covenants that run with the land providing that such are complied with.”
What does the buyer client mean?
Answer:
The buyer is requiring that the “deal” be: no registered restrictions or covenants will run with the land.
The Buyer is also saying “no” to title insurance as a problem solver.
So, if there were any, then they must be removed:
1) by the person who placed them on title,
2) by the Registrar if they have been satisfied, expired, or are illegal, or
3) by Court Order.
Certainly, it makes good sense for any Buyer to know what they are aherad of time.
Brian Madigan LL.B., Broker