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Property Information / Re: Gravenhurst..Jousters mount your stallions..let the tournament begin..
« on: May 09, 2010, 03:11:48 PM »
This might help enlighten anyone interested in the Crawford Island property from the Town of Gravenhurst.
My choice on this one is to pass. Sounds to good to be true.
3.4 S/T VENDORS LIEN in #
Under the registry system, a vendor?s lien is typically not a separate registration but is included within a deed. Upon conversion, a vendor?s lien may be noted in the property description of a PIN when it is contained in a deed within the three deed/ten year period for conversion and has not been dealt with in subsequent registrations.
To delete the lien, an application is required with evidence the lien no longer exists. Acceptable evidence could be reference to previously registered or deposited instrument or an application with a solicitor?s statement/affidavit setting out that the time period for the vendor?s lien has expired or that the lien has been paid off.
3.5 S/T DEBTS, if any, in #
A LTCQ PIN may include a notation of ?s/t debts? in the property description where it is not clear that the debts of an estate have been sufficiently dealt with in previously registered instruments.
The debts notation may be deleted by registering an application. Pursuant to Bulletin 98003, an execution search against the deceased is required. The evidence in support of the application can consist of an affidavit from the estate trustee or statement/affidavit from a solicitor stating that:
1) The debts of the deceased are paid in full; or
2) The purpose of transfer (inst. # noted in the property description) was for the purpose of paying the debts of the estate; or
3) 40 years have passed since the date of death of the deceased in (inst. # noted in the property description); or
4) Unequivocal solicitor?s statement that no debts exist; and
5) The clear Writ Certificate number.
3.6 S/T BENEFICIARIES INTEREST, if any, in #
When a potential beneficial interest has not been accounted for in an estate deed, a S/T Beneficiaries Interest, if any, in # notation may be included in the property description of the PIN. Examples of when this will occur are where the statement ?this transfer is bona fide and for value and for the purpose of paying debts? was not included in the transfer from the estate or where the will specifies that the property be given to an individual but is conveyed to a third party without the beneficiary?s consent.
To delete the beneficiaries notation, an application is required and the supporting evidence can be a solicitor?s statement/affidavit, stating unequivocally, that no outstanding interest exists. Alternatively, appropriate consents may be obtained.
3.7 S/T LIFE INTEREST in #
A deed that contains a life interest that does not appear to have been dealt with in subsequent dealings with the property will be noted in the property description of a PIN. An application is required supported by evidence that the interest no longer exists. The evidence may be:
1) Reference to a previously registered or deposited instrument that contains proof of death or the consent of a life tenant; or
2) Where there is no evidence previously registered or deposited, proof of death or consent of the life tenant included in the application.
The proof of death evidence may be provided by a Law Statement. If the PIN is to be transferred and the life interest is contained in the current title document, the life interest may be dealt with in the Transfer by including the above evidence. Pursuant to Bulletin 98003, an execution search is required.
My choice on this one is to pass. Sounds to good to be true.
3.4 S/T VENDORS LIEN in #
Under the registry system, a vendor?s lien is typically not a separate registration but is included within a deed. Upon conversion, a vendor?s lien may be noted in the property description of a PIN when it is contained in a deed within the three deed/ten year period for conversion and has not been dealt with in subsequent registrations.
To delete the lien, an application is required with evidence the lien no longer exists. Acceptable evidence could be reference to previously registered or deposited instrument or an application with a solicitor?s statement/affidavit setting out that the time period for the vendor?s lien has expired or that the lien has been paid off.
3.5 S/T DEBTS, if any, in #
A LTCQ PIN may include a notation of ?s/t debts? in the property description where it is not clear that the debts of an estate have been sufficiently dealt with in previously registered instruments.
The debts notation may be deleted by registering an application. Pursuant to Bulletin 98003, an execution search against the deceased is required. The evidence in support of the application can consist of an affidavit from the estate trustee or statement/affidavit from a solicitor stating that:
1) The debts of the deceased are paid in full; or
2) The purpose of transfer (inst. # noted in the property description) was for the purpose of paying the debts of the estate; or
3) 40 years have passed since the date of death of the deceased in (inst. # noted in the property description); or
4) Unequivocal solicitor?s statement that no debts exist; and
5) The clear Writ Certificate number.
3.6 S/T BENEFICIARIES INTEREST, if any, in #
When a potential beneficial interest has not been accounted for in an estate deed, a S/T Beneficiaries Interest, if any, in # notation may be included in the property description of the PIN. Examples of when this will occur are where the statement ?this transfer is bona fide and for value and for the purpose of paying debts? was not included in the transfer from the estate or where the will specifies that the property be given to an individual but is conveyed to a third party without the beneficiary?s consent.
To delete the beneficiaries notation, an application is required and the supporting evidence can be a solicitor?s statement/affidavit, stating unequivocally, that no outstanding interest exists. Alternatively, appropriate consents may be obtained.
3.7 S/T LIFE INTEREST in #
A deed that contains a life interest that does not appear to have been dealt with in subsequent dealings with the property will be noted in the property description of a PIN. An application is required supported by evidence that the interest no longer exists. The evidence may be:
1) Reference to a previously registered or deposited instrument that contains proof of death or the consent of a life tenant; or
2) Where there is no evidence previously registered or deposited, proof of death or consent of the life tenant included in the application.
The proof of death evidence may be provided by a Law Statement. If the PIN is to be transferred and the life interest is contained in the current title document, the life interest may be dealt with in the Transfer by including the above evidence. Pursuant to Bulletin 98003, an execution search is required.