Did you know?
A certificate of location protects both the buyer and the seller because, by informing both parties of the legal status of the property, neither can claim ignorance of what it entails.
In what situations is a certificate of location useful? In a few words, it is a property’s legal health check. It allows buyers to know the exact situation of their potential future acquisition. A certificate of location can be requested by your mortgage lender to assess the risks related to your mortgage application. It may also be necessary if you are looking to refinance your property. Your lender will use the certificate of location to determine if the property is at risk of losing its value with respect to the different constraints affecting it. Often, the certificate of location is requested by the city following the construction of a new structure to ensure it follows applicable by-laws as shown on the site plan given when the building permit was requested.
How long does a certificate of location remains valid? A certificate of location does not have a predetermined lifespan. These certificates are made for a specific reason and should not be used for other purposes without the authorization of the land surveyor. Any change on a property (fence, shed, extension, asphalt, patio, terrace, etc.) or in the applicable legislation could make the certificate of location obsolete.