5 (1) A transfer in the prescribed form shall be deemed to include the following covenants and release by the transferor, for the transferor and the transferor’s successors, to and with the transferee and persons deriving title under the transferee: Usual covenants and release 1.  In a transfer of freehold or leasehold land by the beneficial owner for valuable consideration, unless the transfer is expressed to be a quitclaim: i.  That the transferor has the right to convey the land to the transferee. ii.  That the transferee shall have quiet enjoyment of the land. iii.  That the transferor or the transferor’s successors and assigns will execute such further assurances of the land and do such other acts, at the transferee’s expense, as may be reasonably required. iv.  That the transferor has not done, omitted or permitted anything whereby the land is or may be encumbered, except as the records of the land registry office disclose. v.  That the transferor releases to the transferee all the transferor’s existing claims on the land, except as the transfer provides and the records of the land registry office disclose. Covenant re leasehold 2.  In a transfer of leasehold land by the beneficial owner for valuable consideration: That, despite anything done, omitted or permitted by the transferor, the lease or grant creating the term or estate for which the land is transferred is, at the time the transfer is given, a valid lease or grant of the property conveyed, in full force, unforfeited and unsurrendered, and that there is no subsisting default in the payment of the rents reserved by or in the performance of the covenants, conditions and agreements contained in the lease or grant at the time the transfer is given. Covenants and release by trustee, etc. 3.  In a transfer of freehold or leasehold land by a transferor who transfers as trustee or chargee, as personal representative of a deceased person, as guardian of the property of a mentally incapable person, or under a court order: i.  That the transferor has not done, omitted or permitted anything whereby the land is or may be encumbered or whereby the transferor is hindered from giving the transfer. ii.  That the transferor or the transferor’s successors and assigns will execute such further assurances of the land and do such other acts, at the transferee’s expense, as may be reasonably required. iii.  That the transferor releases to the transferee all the transferor’s existing claims on the land, except as the transfer provides and the records of the land registry office disclose. Settlor’s covenant for further assurances 4.  In a transfer of freehold or leasehold land by way of settlement by a transferor who transfers as settlor: That the transferor and the transferor’s successors and assigns will execute such further assurances of the land and do such other acts, at the expense of any person deriving title under the transfer, as may be reasonably required.  R.S.O. 1990, c. L.4, s. 5 (1); 1992, c. 32, s. 17. Multiple parties (2) Where a transfer to which subsection (1) applies is given by or to more than one person, the covenants deemed to be included by that subsection are made, (a)  by each transferor to the extent of the interest or share transferred by the transferor; and (b)  with the transferees jointly, if the transfer is made to them jointly, or with each transferee, if the transfer is made to them as tenants in common.  R.S.O. 1990, c. L.4, s. 5 (2). Covenant by beneficial owner directing transfer (3) Where a transfer to which subsection (1) applies is given at the direction of the beneficial owner, the transfer shall be deemed to include the appropriate covenants set out in subsection (1) on the part of the beneficial owner as if the beneficial owner were the transferor.  R.S.O. 1990, c. L.4, s. 5 (3). Amendment of implied covenants (4) A covenant deemed to be included in a transfer by this section may, in a schedule to the transfer, be expressly excluded or be varied by setting out the covenant, appropriately amended.  R.S.O. 1990, c. L.4, s. 5 (4). Enforcement of covenant (5) The benefit of a covenant deemed to be included in a transfer by this section runs with the interest of the transferee in the land transferred, and may be enforced by any person in whom the interest or part of it vests.  R.S.O. 1990, c. L.4, s. 5 (5). Section Amendments with date in force (d/m/y) 1992, c. 32, s. 17 - 03/04/1995