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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

Leaking basement

"I moved into my new home in early January and at that time there appeared to be no issues with my basement. However, when the usual spring thaw came in April I noticed that my basement was leaking. What should I do?"

What Would Andrew Recommend?

This scenario highlights the importance of having a property inspection done before you sign a deal. A property inspector is trained to see thing you don’t see. For example, in the winter, when everything is frozen, you are not going to see any water accumulation in your basement and you may therefore assume it is dry. A trained and experience home inspector will look for stains on a wall or other indicators that there was a leak during the summer months. It’s even better if you also have the sellers expressly warrant that the property has never been subject to flooding and they are not aware of any flooding issues with the home. That way you have a legal recourse if it turns out that they were not being honest.

Meet Andrew Geisterfer Edmonton Real Estate Lawyer

Andrew Geisterfer

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