Humber/Ontario Real Estate Course 1 Exam Practice

Which statement is NOT correct regarding the Registry system?

1. Title searches must typically include historical records for a maximum 10-year period.

2. Property registration records are organized chronologically.

3. The Registry system uses a tract indexing method.

4. Almost all Registry records have now been converted to Land Titles.

5. Registry records are available for public review.

6. Transactions in the Registry system need validation from the local council.

The correct answer is: Title searches must typically include historical records for a maximum 10-year period.

The statement that title searches must typically include historical records for a maximum 10-year period is not correct. In the context of the Registry system, title searches often require a broader historical examination extending beyond just ten years. This is to ensure a comprehensive understanding of the property's history, including any potential claims or encumbrances that may not have been recorded recently, which can be crucial for assessing the current status of a title. The other statements reflect accurate aspects of the Registry system. For example, property registration records being organized chronologically aligns with how historical records are maintained, allowing users to trace ownership over time effectively. The tract indexing method is a common approach in the Registry system, facilitating easier location and reference to specific land parcels. The conversion of many Registry records to Land Titles indicates a modernization effort to enhance clarity and security in property ownership. Public access to Registry records ensures transparency and allows prospective buyers and interested parties to conduct due diligence. Finally, while transactions and certain documents may require validation from local councils, not every transaction in the Registry system necessitates such validation, allowing for various procedures to process property-related transactions.