Information for Lawyers and Law Firm Staff
If a client is purchasing a new home, check whether the development is in the TitlePLUS New Home Program or New Condo Select in Ontario.
Program Eligibility â€“ Lawyers:
- If you are a TitlePLUS subscriber, you can apply for a policy under our New Home Program or New Condo Select by logging in to titleplus.lawyerdonedeal.com and choosing "Create New Home Program/New Condo Select File."
- If you do not subscribe to the TitlePLUS program, contact us at 416-598-5899 or 1-800-410-1013 as early as possible before closing to obtain a Subscription Agreement.
- For New Home Program and New Condo Select, we arrange the underwriting for the entire subdivision or condominium development on a centralized basis, reducing disbursement costs.
- The purchaser gets the added protection that only a TitlePLUS policy provides. Our policy covers the title-related aspects of the deal plus the legal services provided by the lawyer in the transaction (excluding OwnerEXPRESS® policies and Québec policies). Please refer to the TitlePLUS policy for full details, including actual terms and conditions.
- Participants in the New Home Program and New Condo Select are not required to search or review title and do not:
- prepare and send requisitions;
- prepare, send out, and review responses to clearance letters;
- deal with blanket mortgage discharges; and
- need to confirm occupancy.
- Participants in the New Home Program and New Condo Select do:
- prepare mortgage documents;
- obtain a fire insurance binder from the client (where freehold);
- review the vendor's closing documents;
- prepare their own closing documents;
- meet with the client;
- search executions against the purchaser and any mortgage guarantors, if applicable;
- prepare for closing and confirm the last instrument on title;
- notify all utilities of change of ownership, as required; and
- send final reports to the purchaser and the lender.
- Participants in the New Condo Select do:
- obtain vendor's solicitor's undertaking to discharge all mortgages on title (if mortgage(s) not discharged on closing); and
- obtain clear status certificate.
Contact us for more information.