The Importance Of Online Land Registry System

Submitted By olliedhall
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does it standout? is it catchy? how does it look? is it in bold? newspaper? magazine? article? informative? nt. Register # (Interest Register number) - The interest register number is a nine-digit number assigned to a registered interest. An interest may be registered on several titles. This number will be the same for all those titles, while each title will have its own Interest Number.

Interest Value - Some interests, such as mortgages, judgments and liens, must be given a value.

Issued - The date and time that the title became active. For example, on a title that was converted to the current online Land Titles registry system, the issue date and time reflect the point of conversion. On a title that has been created after conversion, it indicates the date and time the title became active.

Issued Date - The date and time that the title or abstract was converted to the current online Land registry system, or, following conversion, the date and time that the title or abstract was, for example, transferred, transformed, or transmitted.

Joint Tenants - Owners who have one and the same interest in a parcel. They hold a single title. The relationship between ownership holders that allows them to create a single share to more than one ownership holder. There is right of survivorship between joint tenants.

Land Description - the legal land description of the parcel held by the owner of this title. This can be used in several types of searches.

Last Amendment Date - The date the title was last modified in any way (e.g. by transfer, or by an interest being registered, discharged, or amended).

Lock - When a lock is placed on a title or interest, it may prohibit future dealing with that title or interest until the issue that caused the locking has been resolved. The type of lock determines what kinds of transactions are prohibited (i.e., certain locks may prevent transfer but allow interests to be registered against the title. Other locks may prohibit both transfer and interest registration). In the Locks section, the date, type, and description of the lock are displayed. A prohibition on a title or interest that may prevent any future dealing with that title or interest. There are many types of locks, all of which are dealt with in different ways. The example below is a common type of lock, where the land cannot be dealt with until the Registrar is satisfied that the circumstances requiring the setting of the lock have been addressed. Click here for more information on lock types.

Mineral Value - the value of the minerals in the parcel. When there are tenants in common, the mineral value reflects the total value of the parcel (i.e., the total of all title values).

Municipality - The municipality – urban or rural – that the land is registered under.

Notes - Includes the parcel class code and any parcel tie information.

Owner - The registered owner of a title, an individual or entity entitled to a freehold estate in land.

Ownership Statement - Sets out the owner(s), the relationship between the owners, and the parcel number.

Parcel Class Code - An electronic code used to identify the rules for changing ownership, raising interests, and completing transforms for surface parcels only. It is for ISC internal use only.

Parcel # (Parcel number) - A nine-digit number assigned to a parcel by the Controller of Surveys. This number will