The Teranet Undertakings solution is an automated, digital platform that manages all mortgage discharge undertakings with little-to-no post-closing labour across sale, purchase and mortgage files.
Built with compliance at its core and backed by Teranet's decades of trusted experience supporting Ontario's real estate legal professionals, the platform ensures undertakings are fulfilled accurately, securely and on time.
Upload your PINs, and the platform continuously monitors them.
Once a charge is discharged, all parties receive an automated notification with the registered instrument details.
If a discharge hasn't been registered within 90 days, the system follows up for you and emails the lender or sellers lawyer with reminders sent every seven days until complete.
Every undertaking is automatically logged and monitored. Our system automatically detects discharge registrations and updates status daily and notifies the other side of completion.
Automated reminders via email and fax follow-up on outstanding undertakings from other law firms and lenders on a regular schedule, creating a proactive compliance process.
Generate reports of fulfilled and unfulfilled undertakings instantly. All communications are tracked and available in the system for easy reference.
Provides a full history of reminders, communications, status updates, and fulfillment dates demonstrating compliance with professional obligations.
Users of Teranet Undertakings have reported saving 10–15 minutes per file by automating their discharge-related undertakings.
What does that mean for your practice? For every 100 real estate matters, you'll save approximately 25 hours in post-closing efforts. This give your team time to invest in:
“The Teranet Undertakings Solution has been a tremendous improvement in how law offices obtain discharge particulars and follow up on outstanding undertakings. This platform streamlines the entire undertakings process in a way that has saved me a great deal of time. I'm spending far less time preparing letters and calling lenders, which allows me to focus on more pressing client matters.”
“Love the new system. It's incredibly helpful and truly saves us time. It also allows me to reassign limited staff to other duties. The clear insights and visibility make monitoring undertakings so much easier to manage. We'll definitely continue using it.”
Discover how Teranet Undertakings can transform a compliance-heavy, manual obligation
into a streamlined, automated and cost-effective process for you.