Registering Property in Canada

This topic examines the steps, time, and cost involved in registering property in Canada.

Export to Excel | Local partners | Methodology

   View all indicator data and topic details for this economy.

Change Selection

Standardized property

Property Value: CAD 2,228,407
City: Toronto

Registration Requirements Summary:


  Procedure Time to complete: Cost to complete:
*1 The purchaser should obtain the opinion of a qualified appraiser to estimate the value of the property 14-21 days (simultaneous with procedures 2, 3, 4, and 5) CAD 5500
*2 Obtain tax clearance certificate from the Municipality 2 days (simultaneous with procedures 1, 3, 4, and 5) CAD 50
*3 Obtain a copy of Title Register and relevant registered documents and a Certificate regarding Writs of Execution 1 day (simultaneous with procedures 1, 2, 4, and 5) CAD 50 (Title Register) + CAD 22 (Writs of Execution)
*4 Obtain Status Certificate with respect to selling corporation 1 day (simultaneous with procedures 1, 2, 3, and 5) CAD 32
*5 Conduct title search (in the absence of title insurance) 5-7 days (simultaneous with procedures 1, 2, 3, and 4) CAD 2,000
6 Registration of the transfer of title 1 day CAD 70.70 (electronic registration) + Land transfer tax according to a cumulative schedule
* Takes place simultaneously with another procedure.

Registration Requirement Details

Procedure 1.
The purchaser should obtain the opinion of a qualified appraiser to estimate the value of the property
Time to complete:
14-21 days (simultaneous with procedures 2, 3, 4, and 5)
Cost to complete:
CAD 5500
Name of Agency:
Comment:
Procedure 2.
Obtain tax clearance certificate from the Municipality
Time to complete:
2 days (simultaneous with procedures 1, 3, 4, and 5)
Cost to complete:
CAD 50
Name of Agency:
Municipality
Comment:
The parties have to show reasonable evidence to the title insurance company that the property is clear of tax obligations. A written tax clearance certificate should be obtained from the Municipality in 1 day for CAD 50. This will need to show the latest tax receipts including the amount of current year taxes and whether all taxes are paid to date.
Procedure 3.
Obtain a copy of Title Register and relevant registered documents and a Certificate regarding Writs of Execution
Time to complete:
1 day (simultaneous with procedures 1, 2, 4, and 5)
Cost to complete:
CAD 50 (Title Register) + CAD 22 (Writs of Execution)
Name of Agency:
Comment:
A copy of Title Register and relevant registered documents are obtained on-line, as are the Certificate regarding Writs of Execution filed against the vendor.
Procedure 4.
Obtain Status Certificate with respect to selling corporation
Time to complete:
1 day (simultaneous with procedures 1, 2, 3, and 5)
Cost to complete:
CAD 32
Name of Agency:
Comment:
Seller obtains a Status Certificate from the government of province (or the federal government, if applicable).
Procedure 5.
Conduct title search (in the absence of title insurance)
Time to complete:
5-7 days (simultaneous with procedures 1, 2, 3, and 4)
Cost to complete:
CAD 2,000
Name of Agency:
Comment:
Depending on whether the property is located in a jurisdiction governed by the Land Titles Act or the Registry Act or by electronic registration, in the absence of title insurance an average title search would cost CAD 2,000 (plus disbursements of CAD 150-200) and would take approximately 5 - 7 days to complete.
The buyer may want to undertake some additional investigations, such as an environmental report (about 14-20 days and CAD 1,000-1,500), a building inspection (1-2 days, CAD 1,000-1,500), and a zoning review prepared by a planning consultant (1 day, CAD 1,000).
Title insurance premiums for a property valued between CAD 1 million and CAD 3 millions will be CAD 1,325 + 0.095% of the excess over CAD 1 million (plus an 8% the premium as the Retail Sales Tax in Ontario). (Information provided by First Canadian Title.)
Procedure 6.
Registration of the transfer of title
Time to complete:
1 day
Cost to complete:
CAD 70.70 (electronic registration) + Land transfer tax according to the following cumulative schedule:
Property value (in CAD) Land Transfer Tax
U
Name of Agency:
Purchaser's solicitor or Land registry
Comment:
After the agreement has been prepared and the transaction closed, the parties’ solicitors will complete the registration for transfer of title.
There are two systems of registration, depending on location of property. In the electronic registration regime, the transfer is registered electronically by an authorized licensee at the offices of the purchaser’s solicitor. The registration takes approximately 30 minutes and the cost of electronic registration is CAD 70.70, for each document, including tax and service fees. Only authorized licensees have access to the electronic registration system for security reasons.
Where electronic registration is not available, representatives of the vendor’s and purchaser’s solicitors meet at the local land registry office to exchange documentation. The purchaser’s solicitor will register the transfer document manually. This process may take several hours. The cost of paper or manual registration is CAD 60 for each document. Regardless of the system of registration, the purchaser is responsible for the cost of registering the transfer. The payment of registration fee and the Land Transfer Tax is done electronically too if it is in the electronic regime.
Solicitor’s fees for their intervention in the whole process are estimated in about CAD 6,000 (CAD 3,500 for the buyer’s solicitor and CAD 2,500 for the seller’s solicitor).
Notification of change of ownership to assessment department and utility companies can be done the same day immediately after closing, in about 30 minutes.