As you may or may not be aware the Land Titles Registry has changed in the Province of Ontario.
In the good old days you could go to the Registry Office pull the big books search title and register documents right there against property in the County you were in.
If you had a wood lot or sold the mineral rights, or the trapping rights oe the water rights etc, you could register the document against the title of the property so there was a record of the transaction. If a buyer wanted to purchase the property he would see by checking the title what he was buying.
However today you are stuck. With the new Electronic Registry system, you cannot register the purchase and sale of those rights on title. They are no longer recognized as rights but as part of the property.
So if you plant a forest on your land in the hopes of harvesting the tress in twenty or thirty years, or if you have a wood lot that you want to sell, you must get a release from your mortgagee before you can turn that into cash.
If you discover Natural Gas or oil again these rights are not recognized by the system so you cannot register an interest with respect to those commodities.
This is in my opinion theft by the government as they do not recognize your rights to them.
Now I planted 4,000 trees on my land and I wanted to sell the harvest rights. I cannot. The trees in todays dollars are worth about $300.00 each come harvest. So today with 14 years left to harvest time the trees have a value of about 325,00 now. This is not reflected in the appraisal that I had done to get a mortgage. The mortgagee has first claim on my property and I have no defense against them for my trees. By the same token the mortgagee has claim over any crops planted in the event of default.
If in 14 years the trees are to be harvested they would be worth about 1.2 Million in todays dollars. But if I have a mortgage I cannot harvest them until I obtain a discharge of the mortgage. This in just wrong!
It seems the regulators eliminated the right to register claims for the rights that are there.
This sucks huge and has to be addressed.
Comrades we must do as they say or do something about it!