Real Estate Law
Our team of Real Estate Lawyers provides full legal services of practical advice and representation in all areas of Real Estate Law. Our Real Estate practice groups services and experience include:
Purchase and Sale of Homes, including Condominiums (Freehold, Strata, Leasehold, Undivided Interests)
Mortgages & Refinancing
Buying or Selling a Commercial Property, including Commercial Mortgages
Foreclosures & Collections
Resolution of Property Disputes
Frequently Asked Questions
Q: Do I need a lawyer or notary to complete my real estate transaction?
A: Yes, you do. The completion of real estate transaction is based on undertakings exchanged between the lawyer/notary representing the buyer and the lawyer/notary representing the seller. The funds are drawn from and received into the lawyer’s/notary’s trust account and disbursed according to the undertaking.
Q: What are disbursements?
A: Our rates for real estate transactions are composed of two main components: fees and disbursements. Disbursements are costs that we incur in order to complete the real estate transaction for you. There are the number of costs, including the following: land titles searches and registration fees, tax search fees, software fees, couriers, and strata fee. In some cases, where we need to obtain a new real property report and compliance on your behalf, or where we are required to obtain title insurance, there will be additional disbursement costs associated with those items as well. A disbursement is an expense your solicitor pays on your behalf and later adds to your final bill for you to reimburse them.
Q: How soon will I receive the funds from my sale?
A: Assuming that there are no delays in receiving the closing funds, money is usually sent out for deposit to the seller’s bank account on the day of closing. Depending on the policies and procedures in place at your bank, funds may not be immediately available for use.
Q: What is the difference between “tenants in common” and “joint tenants”?
A: Joint tenants own the property in equal shares, have an equal interest in the property, and an equal right to use the whole of the property. If a joint tenant dies, his or her interest passes to the surviving joint tenant(s) and does not normally form part of the deceased’s estate. Joint tenancy is a common choice for spouses who want to ensure that upon the death of one of them, the surviving spouse will have full ownership and use of the property.