The most valuable investment or financial transaction that most people will make or be involved in is buying or selling real estate, including their own homes and perhaps investment and vacation properties as well. The average home price in the Greater Vancouver area continues to sit at over a million dollars.
Real estate sales are also one of the few areas of the law in which the maxim caveat emptor, or buyer beware, is stringently applied with regard to defects that were not deliberately or well hidden. Hence it is wise to check before entering into the agreement to buy or sell real estate, and definitely before completing the sale, on any issues of concern to you.
We act for you in the final stage of the process, the one that involves the payment of purchase funds by the buyer to the seller, transfer of possession to the buyer, and the registration at the Land Title Office of the name of the new legal owner.
We can also provide advice, either before or after the sale, on the obligations of the parties regarding any of the provisions of the contract of purchase and sale and any disputes arising from it.
We also advise on the provisions of mortgages and other lending agreements and lines of credit secured against real estate and provide Independent Legal Advice as required by the financial institution or private lender.
We can explain and advise with regard to various types of interests and charges on title, such as life estates, easements, and court judgments, and the restrictions they can cause with respect to selling or mortgaging the property.
We can also advise on the tax implications of the sale or transfer or gifting of a particular piece of real estate, whether it be capital gains tax, property transfer tax, or in some cases, probate fees arising from the devolution and sale of real estate.
Give us a call to book a legal consultation today.