Handling Additional Securities on Registered Mortgages (ON)
RealtiWeb Ontario now has the option to link a registered security to their respective registered Mortgage. This helps to ensure that all registered securities are handled upon a sale of property. After linking the related securities, the pertinent information can be included in documents such as report, undertaking, requisitions, and response to requisitions.
Items which can be linked to a registered Mortgage:
- Notice Under Section 71 of the Land Titles Act
- Notice of Assignment of Rents-General
- Notice of Assignment of Rents-Specific
- Notice of Assignment of Lessee Interest in Lease
- Notice of Security Interest
Linking a Registered Security to a Mortgage
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Go to your title search results on the Basic → Title Search tab.
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Select the Charge(s) on title to import by clicking on the toggle indicating the Charge(s) as inactive. As each one is imported the toggle will indicate it's active.
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Select the Notice(s) on title to import by clicking on the toggle beside each one.
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Click on the Matched to Issue icon beside each Notice and select the notice type from the dropdown list.
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This will open the Issues Workbench window for this Notice. In this window, you can add this notice to multiple documents (e.g. Requisition or Undertaking documents).
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Click the selector icon beside Related Security Charge Instrument Number to associate the security to the registered Mortgage.
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Click on the registered mortgage to associate it to the registered security.
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Check the checkbox beside requisition or response to requisition and/or undertaking to include the notice in these documents.
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Use the selector icon beside the clause text (per document) to select the clause to include in the document.
Updated Description
When the security is linked to a registered Mortgage the Description will include:
This Notice is additional security given in connection with the above noted Charge/Mortgage registered as Instrument No. [Instrument No. of Mortgage].
New Requisition clause
In the available options for the above securities, the following clause has been added:
The Purchaser is not obliged to accept title subject to this Notice under the terms
of the Purchase Agreement.
of the Purchase Agreement.
REQUIRED: On or prior to closing, the registration on title to the Property of a
good and valid release and abandonment of the Notice and the deletion thereof
from title to the Property. In the alternative, in the event that the release and
abandonment will not be available on or prior closing, we require that your firm’s
personal undertaking to obtain and register or cause to be registered a discharge
of the Mortgage also include an undertaking to delete this Notice from title to the
Property.
good and valid release and abandonment of the Notice and the deletion thereof
from title to the Property. In the alternative, in the event that the release and
abandonment will not be available on or prior closing, we require that your firm’s
personal undertaking to obtain and register or cause to be registered a discharge
of the Mortgage also include an undertaking to delete this Notice from title to the
Property.
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Billing, Accounting Integrations, Admin Functions & Reports
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Province-specific information for AB clients
Province-specific information for BC clients
Province-specific information for MB clients
Province-specific information for ON clients
Province-specific information for NS clients
Province-specific information for SK clients
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