“Albertans have a right to know what it is they are getting, or not getting, when they buy or sell property,” says Dirk VandenBrink, Vice-president of the Alberta Land Surveyors’ Association.
Vice-president VandenBrink made this comment as the Alberta Land Surveyors’ Association released a special position paper related to Real Property Reports and title insurance in Alberta.
The point of the paper is to ensure that Albertans know of the Alberta Land Surveyors’ Association position that complete and full disclosure in the real estate transaction is of paramount importance for all parties involved. Through full disclosure, the public will be protected. The Real Property Report and compliance certificate with every transaction informs the prospective purchaser about any potential problems with the property or the title. Further, municipalities are able to recognize and remedy any violations of land use bylaws at the time of purchase.
The position paper was prepared in response to the advent of title insurance in Alberta. In the 1990s, several American insurance companies introduced the concept of title insurance to Canada. Title insurance has been used in the United States as a way of guaranteeing the security of title on a piece of property. In Alberta, we use the Torrens System in which security of title is already guaranteed by the Alberta government through the Land Titles Assurance Fund.
Title insurance duplicates the insurance protection provided by our existing land title system and its use will eventually negatively impact the integrity of the survey fabric and that public land title system. By allowing problems to exist and compound without correction, the entire system may be compromised. The Alberta Land Surveyors’ Association supports a public land titles system and the full disclosure provided by the Real Property Report.
The position paper is available from the Alberta Land Surveyors’ Association website at www.alsa.ab.ca/papers/050630title.htm
Free brochures about Real Property Reports are available from the Alberta Land Surveyors’ Association by calling 1-800-665-2572 or visiting www.alsa.ab.ca
The Alberta Land Surveyors’ Association, formed in 1910, is a self-governing professional association legislated under the Land Surveyors Act. The Association regulates the practice of land surveying in Alberta for the protection of the public and administration of the profession.