The Importance of an Up-to-Date Certificate of Location
17 Jun 2024
As a real estate broker, it's crucial to inform clients about the importance of having an up-to-date certificate of location when buying or selling a property. This document, prepared by a land surveyor, provides an accurate description of the current state of the property in relation to property titles, the cadastre, and current laws and regulations.
A certificate of location must reflect any changes made to the property, such as new structures or regulatory changes. If the certificate is over ten years old, it must be updated, as notaries require a recent certificate to finalize a transaction.
Costs and Timing
The seller is responsible for the costs associated with updating the certificate of location. If the buyer requests a new certificate and no changes are found compared to the previous one, the buyer may bear the costs. It is important to consider the production times, which can range from 4 to 6 weeks.
Conclusion
Ensure your clients are aware of these requirements to avoid delays or complications during the sale or purchase of their property. For more information, consult the OACIQ information center.
For detailed information, please refer to the original OACIQ article.
