When is the title search deadline?

Agreements of Purchase and Sale typically provide for a deadline for the buyer to complete title searches. This deadline is referred to as the “Requisition Date” or “Title Search Date”.

The Requisition Date is the date by which the Purchaser of real property in Ontario should complete the necessary title and off-title searches and be aware of all problems relating to title of the subject property. Some examples of off-title issues include problems related to: (a) lawful continuance of present use, (b) ability to obtain fire insurance, and (c) outstanding work orders or deficiency notices against the property.

The Title Search or Requisition Date is not always itself the deadline for objecting to title issues. Rather, the Requisition Date is used to determine the deadline to object to title-related issues on the subject property.

 The method to calculate the deadline to object to title Issues on the property is as follows: 1. determine the latter date between the (A) Title Search date and (B) date on which the last condition (if any) in the agreement is waived or fulfilled; 2. calculate thirty (30) days following (A) or (B); and 3. calculate five (5) days prior to the “Completion Date” specified in the agreement. The Earlier of (2) or (3) is the deadline to object to any title issue on the property.