The legal concept representing the bundle of ownership rights to a real property, recorded in the Ontario Land Registry through Teraview. Holding clear title means there are no outstanding mortgages, liens, easements, encroachments, or other encumbrances that could challenge the owner’s rights. A title search — conducted by the buyer’s lawyer prior to closing — traces the chain of ownership and identifies any registered interests or defects. Title insurance protects buyers and lenders against undiscovered title defects.
Synonyms:
property title|clear title