A certificate issued by an insurance
company or its agent verifying that a
specific insurance policy is in effect for
stated amounts and coverage, and sets out
the names of those insured.
The right of a mortgagee to force the
sale of a property, without judicial
proceedings, should default occur. The term
power of sale indicates a sale under the
power contained in the mortgage document
and/or pursuant to appropriate provincial
legislation. Procedures concerning power of
sale will vary by province.
A legal document identifying the
registered owner of real property,
particulars regarding the legal description,
and the form of ownership under which the
property is held.
To attest to something as being certain,
the truth, or fact.
In an appraisal, a signed and dated
certification may state that the appraiser
has made a personal inspection, reviewed
relevant factors, and has no interest,
present or contemplated, in the property.
The certification may also state that facts
being used are believed to be true and
factual and have been verified where
possible; that the findings are subject only
to assumptions and limiting conditions
stated in the report; and that the valuation
is not in any way contingent on the
compensation received. Figure C.3 is
provided for general information purposes
only. Significant wording variations are
found in the marketplace.
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