[C]ivil servants at the provincial Ministry of Consumer and Commercial Relations led a groundbreaking effort to form a public–private partnership to convert millions of property records—both from paper to digital and in some cases from a deeds system to titles—and create the world’s first electronic land registration system
In 1987, Ontario's land registration system was overwhelmed. Budget constraints and a surge in property sales were straining the Canadian province's paper-based operation. After struggling to computerize its land records during the previous seven years, civil servants at the provincial Ministry of Consumer and Commercial Relations led a groundbreaking effort to form a public–private partnership to convert millions of property records—both from paper to digital and in some cases from a deeds system to titles—and create the world's first electronic land registration system. During the partnership's first 12 years, beginning in 1991, the provincial government and joint venture company Teranet worked to persuade sometimes skeptical politicians and real estate professionals of the value of their model and laid the groundwork for a lasting relationship even after the government sold its ownership stake in 2003. Despite early financial challenges and a slower-than-expected conversion process, Teranet and the Ontario government pioneered technology that became a model for the world, simplified transactions for the province's landowners, and built a relationship that continued to offer value for both partners in 2016, 25 years after the partnership began.
Organization Type: | Academic / research organization |
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Status: | N/A |
Last Modified: | 12/18/2024 |
Added on: | 6/22/2021 |