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Jul 21, 2023 · The term ‘Transfer of Title’. A transfer of title transfers ownership rights of a property from one party (the seller or grantor) to another (the buyer or grantee). This is important in real estate transactions, and it also changes your property’s ownership status. The document that records this transfer is known as the ‘deed’.
May 30, 2024 · Expertise and Experience: Notaries are well-versed in real estate law and the intricacies of land title transfers, providing peace of mind that your transaction is handled correctly. Legal Protection : A notary’s involvement ensures that all legal requirements are met, protecting your rights and interests throughout the process.
Once we receive these documents; we begin our due diligence process. The first thing we review is the Title to the Property. We confirm that the Contract matches the title in terms of making sure the Seller on the Contract is the Registered Owner of the Property and that the Property’s legal description on title is the same as the Contract.
Conveyancing in BC. Conveyancing is the process of transferring the legal title of real property from one person to another. That transfer of interest is known by the majority of the public as buying and selling a property. There are several important parties involved in a conveyance transaction and each party plays a key role in the process.
Why Is It Important in a Real Estate Transaction? A real estate title transfer is vital for several reasons. First, it ensures the new owner has legal ownership of the property. The seller could still legally own the property without a title transfer, even if they’ve signed a sale contract. Second, it’s essential for mortgage purposes.
Jun 16, 2023 · The conveyancing process is a critical aspect of buying or selling property in British Columbia, Canada. It involves various legal and administrative procedures that ensure the transfer of property ownership. This article provides an overview of the conveyancing process in British Columbia, highlighting key steps and considerations for buyers and sellers. Step 1: Retaining a […]
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Nov 21, 2023 · Step 3: Pay Property Transfer Tax. Property Transfer Tax is a crucial aspect of transferring property title in BC. The amount you’ll need to pay depends on the property’s value and location. Be prepared to cover this expense during the transfer process. Step 4: File the Documents. Once you have gathered all the necessary paperwork and paid ...
