O. Reg. 53/07: GENERAL

 

ontario regulation 53/07

made under the

land titles act

Made: February 14, 2007
Filed: February 20, 2007
Published on e-Laws: February 21, 2007
Printed in The Ontario Gazette: March 10, 2007

Amending O. Reg. 26/99

(General)

1. Ontario Regulation 26/99 is amended by adding the following heading immediately before section 1:

Definitions

2. The Regulation is amended by adding the following heading immediately before section 2:

Registration of Documents

3. The Regulation is amended by adding the following sections:

Claims against the Land Titles Assurance Fund

15. An instrument perpetrates a fraud for the purposes of clause (d) of the definition of “fraudulent instrument” in section 1 of the Act if,

(a) it is a cessation of a charge or an encumbrance; and

(b) the person who purports to register it is a fraudulent person.

16. (1) Subject to subsection (2), the following classes of persons are prescribed for the purposes of subsections 57 (4.1) and (4.2) of the Act:

1. An individual who was the registered owner of the land that is the subject of the application for compensation from the Assurance Fund mentioned in the applicable subsection, where the land was used for residential purposes.

2. An individual who is a purchaser in good faith for valuable consideration of the land that is the subject of the application for compensation from the Assurance Fund mentioned in the applicable subsection, where the land is used for residential purposes.

(2) No individual or person who is entitled to receive compensation from an insurer for any part of the loss for which the individual or person applies for compensation from the Assurance Fund shall be part of a class prescribed under subsection (1).

Made by:

Gerry Phillips

Minister of Government Services

Date made: February 14, 2007.