Humber/Ontario Real Estate Course 1 Exam Practice

Which statement is NOT correct about transferring ownership in a real estate transaction?

1. Lawyers use a two-step procedure for e-registration: Create/Update and Complete

2. E-registration is available throughout the province

3. Lawyers use Teraview software to complete e-registration

4. Certain transaction-related documents cannot be e-registered

5. Only original documents can be registered

6. Manual registration is still permissible in certain scenarios

The correct answer is: Lawyers use a two-step procedure for e-registration: Create/Update and Complete

The statement about the two-step procedure for e-registration being inaccurate is a misunderstanding of the e-registration process. In reality, lawyers do engage in e-registration through a specific two-step process. This involves the stages of "Create/Update" and "Complete," which are designed to facilitate the efficient and secure transfer of property ownership. Therefore, this process is a vital and accurate aspect of e-registration in real estate transactions. The other statements reflect valid aspects of property ownership transfer. E-registration is indeed widely available across Ontario, facilitating streamlined property transactions. Teraview software is commonly used by lawyers to assist in these e-registrations. Additionally, there are certain transaction-related documents that cannot be registered electronically, which is crucial to understand. It’s also true that while electronic registration is highly encouraged, original documents are still required for registration. Lastly, manual registration is permissible in specific scenarios, offering an alternative when e-registration is not suitable.