Teranet and the (not so) new electronic registration system


In Ontario, most real estate transfers are completed electronically; at last check, 97% of land registry offices were equipped to do electronic registration. Everything from title searches to registration of mortgages to transfers of property is completed online, with the lawyer “signing” electronically rather than attending at the land registry office to sign physically. This allows the transfer process to be streamlined, and also allows your real estate lawyer to complete the purchase and sale even when you are moving to a different city (as long as you are staying inside Ontario). E-registration is done through a program called Teraview, owned by a company called Teranet; at the moment, only licensed lawyers have the ability to register transfers of title. The government of Ontario intends for all properties to be eventually transferred through the e-registration system. In the near future, paper deeds will be a thing of the past. For more information, see www.teraview.ca.