Real Estate Law2017-05-18T18:52:54+00:00

Real Estate Law

Lawyers play a crucial role in the real estate process. Regardless of you purchasing or selling your home, you will need to ensure that you have a trusted lawyer that will be able to close your property. .

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IN A REAL ESTATE TRANSACTION

A real estate lawyer will play a crucial role in the closing of your real estate transaction.

In the sale of a property, a real estate lawyer performs numerous tasks to ensure that the property ownership is properly transferred. Here are some of the items the lawyer will handle in the sale of your home.

  • Review Agreement of Purchase and Sale and Status Certificates (condominiums)
  • Review parcel register
  • Review property tax information from client or the city.
  • Review and respond to requisitions and clauses.
  • Provide and undertaking to Buyers and Buyers lawyer to pay existing encumbrances.
  • Attain mortgage statements.
  • Review closing documents and obtain keys.
  • Prepare statement of Adjustments to be delivered to Buyers Lawyer.
  • Receive closing funds to be held in trust. Review and release transfer.
  • Prepare to pay out existing mortgage, liens and encumbrances.
  • Prepare payment for real estate transaction.
  • Ensure discharge of mortgage.
  • Advise municipality of change of ownership.

In the purchase of your new home, the lawyer will be responsible for numerous tasks. Here is a list of some of the items your lawyer will handle.

  • Review Agreement of Purchase and Sale and Status Certificates (condominiums)
  • Review title search.
  • Request any other necessary searches such as tax arrears, zoning, work orders etc.
  • Obtain invoices to ensure conditions of the Agreement were fulfilled.
  • Prepare and provide requisition letter and closing documents to Sellers Lawyer on or before requisition date.
  • Obtain titile insurgente.
  • Prepare documentation for transfer.
  • Prepare mortgage documentation with instruction from Lender.
  • Review and execute closing documents with Buyer and collect any remaining funds.
  • Review Statement of Adjustments and prepare certified cheque for Sellers of remaining balances.
  • Receive keys and deliver to client.
  • Register mortgage and transfer.
  • Report to Lenders, clients and municipality.

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