86007 Bonds and Covenants to Indeminify the Land Titles Assurance Fund

Effective July 1, 1986, a covenant to indemnify the Land Titles Assurance fund will no longer require pre-approval by the Director of Titles. However, a bond to indemnify the assurance fund will require authorization by the Director of Titles prior to its acceptance.

Where given in respect of an application or registration under the Land Titles Act, a bond must be in accordance with Form 51, and a covenant with Form 52, of Ontario Regulation 75/82.

Where given in respect of an application for certification under the Certification of Titles Act, a bond must be in accordance with Form 9, and a covenant with Form 10, of Regulation 93, R.R.O. 1980. It should be noted that the reference to the assurance fund under the Certification of Titles Act should be changed to the assurance fund under the Land Titles Act in both these forms since the former fund has been abolished and replaced by the latter.

The bond or covenant may be executed and forwarded for recording and safekeeping as follows:

1. Where the bond or covenant relates to an application for first registration under the Land Titles Act or for certification under the Land Titles Act or for certification of title under the Certification of Titles Act, to: The Head of Titles Examination Section
   Ministry of Consumer and Commercial Relations
   3 rd Floor, 543 Yonge Street
   Toronto, Ontario
   M7A 2J8
2. Where the bond or covenant relates to a land titles registration, it should be provided to the Land Registrar at the time of the application for registration. The Land Registrar should then forward the bond or covenant to the Head of Title Examination Section, above, after registration has been completed. It will not be necessary for the Land Registrar to retain any record of the bond or covenant.

This replaces Bulletin 83029.