Real Property Reports
Wednesday, October 28th, 2015A few years back I did a post on what a RPR (Real Property Report) is. Just to reiterate, its a land survey of the boundaries and structures within your property lines. There are a lot of common questions that still come up regarding RPRs (some listed by AREA – the Alberta Real Estate Association) and I figured I would relay some of them on to you:
1) I was provided a RPR when I purchased my home 5 years ago, but cant find it now and want to sell
– there are many places that may still have a copy of it: your lawyer, the sellers lawyer from when your purchased it, the realtor that represented you or the seller, or even your lender may have requested a copy at time of purchase.
2) Should I accept title insurance in lieu of an RPR when purchasing a home?
– this question is one that should only be answered by your lawyer. There are many benefits and some instances that make sense to accept title insurance, but normally in addition to a non-compliant or non-conforming RPR, NOT in lieu of one altogether though.
3) The clause in the purchase contract states that the RPR must be current and compliant. What does this mean?
– Compliant means there is a letter from the city stating that property bides by all city bylaws. Current means that there have been no changes to the exterior of the grounds since the last RPR. Again, a question best directed to your lawyer, as each case is different – but adding a shed, concrete pads, etc may mean that your RPR is no longer current.
