Real Property Report
A Real Property Report (RPR) is a survey plan showing all visible improvements in relation to your lot boundaries. All improvements of a permanent nature must be shown, along with dimensions to the lot boundaries, and dimensions around your lot related to cadastral survey. The RPR will also show any encroachments onto or from your land. RPR’s are typically used in real estate transactions to ensure there are no surface encroachments or land use issues, and will often require a Stamp of Compliance from the municipality.
How long is a Real Property Report valid?
The Real Property Report is a “snap shot” of the property on the date of the survey.
Changes are often made to improvements on a property or adjoining properties. These may be new or modified fences, decks, driveways, garages or other features. Only an updated Real Property Report can show their location relative to property boundaries.
Changes to your title will also be shown.
Who needs a Real Property Report?
Property owners, to be informed of:
- The locations of improvements within the property boundaries,
- Any encroachments from adjacent properties, and
- Property compliance with municipal requirements
Property Purchasers, to be informed of:
- The boundary and improvement locations on the property, and
- Any problems relating to the property boundaries.
Municipalities, to assist them:
- In determining compliance with bylaws and fire codes, and
- In the planning and development process.
Property Sellers (vendors), to provide:
- Protection from potential future legal liabilities resulting from problems related to property boundaries and improvements.
Mortgage Lenders, to be informed of:
- Conformance of improvements with municipal bylaws, and
- Problems that may have to be resolved prior to registration of the mortgage
- Provide a visual representation of the property for sale,
- Meet requirements of the real estate listing/purchase contract, and
- Have information to avoid delays in completing property transactions when a Real Property Report is arranged early in the sales process.
How does a Real Property Report protect you?
- Purchasing a property may be the largest financial investment you ever make. With a Real Property report, owners are aware of any boundary problems. They know whether their new home is too close to the property line, or part of their garage is on their neighbour’s land, or vice versa.
“Good boundaries make good neighbours!”
Since legal complications may occur if a sold property fails to meet requirements, a Real Property Report protects the seller.