What is a real estate closing in Ontario and how does it work?

A real estate closing in Ontario is the point where the transfer of the property is registered and the sale is completed. Land transfer tax is payable on every conveyance tendered for registration, so it is paid at or before registration on closing. Registration is electronic, except for complex registrations, and land transfer tax statements are completed as part of the electronic transfer.

Only authorized Teraview account holders and their registered users, such as lawyers and conveyancers, can create and submit documents in the electronic system. The registration fee for an electronic instrument such as a transfer was $85.00 from November 3, 2025, so confirm the current amount.

The steps before closing, such as the title search, the requisition period, the statement of adjustments and the possession date, come from your agreement of purchase and sale rather than from a statute, so read its dates carefully. If time is of the essence and neither side is ready on the agreed date, the agreement stays in effect, and either side can restore time of the essence by setting a new closing date with reasonable notice. A lawyer can explain your agreement.