This paper serves as a reference for when, why, and how to use the Western Torrens Conveyancing Protocol (the “Protocol”). After providing some background information on the Protocol, it outlines situations when the Protocol can be used in a real estate transaction. This paper also provides a brief overview of how to close a transaction using the Protocol, and what to do if something goes wrong. It also provides some additional pointers on various aspects of a real estate transaction closing under the Protocol, including converting to a Protocol closing after submission for registration, closing date release issues, and a comparison of the Protocol vs. title insurance. This paper also includes a sample trust letter that includes trust conditions for closing using the Protocol.
This paper is part of a collection presented at LESA’s Real Estate Essentials program held in Edmonton on March 10, 2017 and in Calgary on March 17, 2017.