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The big step – title transfer

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It is possible to arrange Title Transfer without the help of a real estate lawyer. But do this with your eyes open. You need to know how the Title Transfer impacts everyone involved in the transaction. A single mistake could have a very big negative impact in terms of cost and the timelines required to complete the transaction. In the worst scenario, the transaction is stopped and you could end up in court.

Edmonton solicitor for property title transfer and other real estate legal services delivered by competitive lawyer fee rates.)

It takes an experienced lawyer with a complete understanding of real estate law to avoid problems with a property title that could go unnoticed by a less experienced legal representative.

Take special care to ensure your documents are executed correctly and meet all regulatory requirements. If your application is incomplete, it will be rejected by the Land Titles office. You can ask questions, but there are three things staff in the Land Titles office cannot do:

  • complete your application
  • offer legal opinions
  • act as a witness

What happens after a seller accepts a sales contract

After the seller accepts the sales contract, a title search needs to be completed by (insert time) to determine if there are any hidden liabilities that need to be addressed before the sale goes through. The liabilities could be unpaid taxes, an outstanding mortgage or a lien – all of which carry a cost that needs to be determined. "A liability may be so small that it makes no difference, but often it is so significant that the seller has to reduce the price or eliminate the liability before the sale goes through.”

Legal Scenario

Condo Special Assessment

"I am buying a condominium in Edmonton. The seller has indicated that there is a Special Assessment outstanding on the condominium and they have asked me to assume responsibility for it."

What Would Andrew Recommend?

Before accepting this obligation, you need to understand the extent of the Special Assessment and work this into the purchase price. For example, you may decide to revise your purchase price to take into account the negative financial impact of the Special Assessment. The key is to make this decision before the purchase, not after, and to consult with your lawyer before making any decision. Remember: It is your lawyer’s job to look after the details – this could be a very important detail.

Meet Andrew Geisterfer Edmonton Real Estate Lawyer

Andrew Geisterfer

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