Should a Buyer Accept Title Insurance in Lieu of a Real Property Report and Compliance?

Podcast Episode 129: “Home-buyer’s Dilemma.”

 

Seems like I’m always finding examples to write about regarding real property reports (RPR) and how they fit into a real estate transaction in Alberta. Land surveys, as RPRs are also known, should be simpler than they are. The standard AREA/MLS contract says that the seller will provide an RPR showing current improvements on the property along with written evidence of municipal compliance or non-conformance. Pretty straightforward, right? 

Regrettably, no. There are an endless number of circumstances and questions surrounding provision of that required RPR.

Today’s case study comes from one of my referring realtors trying to make sense of a particular situation: Title Insurance as a replacement for a current Real Property Report. This blog post works through some of the nuances in this specific case in order to make some broader recommendations. Let’s start with the email from my referring realtor.

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