What is a Parcel Register Or PID?
The new Nova Scotia Land Registration system requires the seller to register all the title information in the “parcel register” at the government land records office. Every parcel register has a number (Property Identification Description or PID) and this number remains the same through all transfers of ownership. Your lawyer will review the details of your parcel register with you before the purchase.
Will my spouse be included in the deed to the home?
You should discuss with your lawyer whether you and your spouse should jointly own the property and the options of how you take title to your new home. For example, as a sole owner, joint tenant or tenant in common. If your mortage lender is relying on both your spouse’s and your income to support a mortgage application, then it will require both names on the deed.
What are restrictive covenants?
Restrictive covenants are conditions that come with the property you are purchasing. They may include such restrictions as size of building on land, prohibition against establishing a business on the property, and many others. Your lawyer will inform you of these covenants upon a review of the state of the title. The restrictive covenants are in place to protect the value of your property as well as the value of homes in your neighborhood. It is important to be aware of them when buying or when selling your home in the future.