Whether you are purchasing, selling, refinancing, or need to perform a land title search, transfer a title, or apply for right of survivorship, our team will simplify the process. Our 6-day a week opening hours give you the freedom to get the advice and guidance you need at a time and place convenient for you.
This is the process by which registered legal title to real property is transferred from the existing owner to the new owner. Records of ownership are registered and stored in the Land Title and Survey Authority of British Columbia.
In residential conveyancing, the purchaser's lawyer customarily prepares all the paperwork and the vendor's lawyer reviews it to ensure accuracy, as well as discharge the vendor's mortgage, where applicable.
When purchasing a property, conveyancing involves two stages for the purchaser's lawyer. Firstly, to ensure the purchaser obtains title to the property "free and clear" of all encumbrances and legal charges. Secondly, calculate the final amount needed to complete the transaction and determine how that money is to be distributed. The purchase price agreed to is not necessarily the exact amount of money that will change hands from the purchaser to the vendor.
Your documents will be thoroughly explained and you will receive a copy of all your executed documents. On the completion date, we will be responsible for transferring the property from its current owner to the purchaser. After all the transfer documents have been fully registered and existing vendor mortgages have been discharged, we will order a State of Title Certificate and forward the same to you.
When selling a property, conveyancing involves two stages for the vendor's lawyer. Firstly, review all the paperwork prepared by the purchaser's lawyer to ensure accuracy, especially regarding all financial calculations, and then witnessing and notarizing your signature on all paperwork and returning it to the purchaser's lawyer for registration in the LTSA of BC; and secondly, receive and disburse the purchase money. In the event you have a mortgage on title, we must cancel the mortgage by paying it out to the bank right before releasing the remaining funds to you.
Raising a mortgage means you, the legal owner of the property, are borrowing money from the bank to assist you in purchasing your property. In exchange, you promise to pay back the loan plus interest - representing the bank's profit for its service to you. To guarantee your promise, you agree to provide your property as security for your obligation. Registration of your mortgage simply secures the bank's priority against everyone else.
When it comes time to advance the mortgage proceeds, banks will retain their in-house lawyers, or ask the purchaser to retain a lawyer to draft and register a "registrable form" of the mortgage in the LTSA of BC as a charge against your property, usually with priority over all other existing and future charges. Only upon a lawyer's legal opinion as to the validity of the bank's registered mortgage against title will they release the funds to the purchaser, in order to complete the transfer.
Drafting and registering of mortgages involve their own series of registry searches, disbursements, and LTSA of BC registrations - all done simultaneously with the residential conveyance. In addition, insurance policies must be obtained naming the bank as first beneficiary.
We are a smart team of professionals, meticulous with every aspect of our notarial practice. We assist businesses and individuals with their legal needs in areas of Residential Conveyancing, Sale & Purchase of Property, and Mortgages.