The term conveyancing refers to the legal process of an owner of real estate conveying or transferring title of residential or commercial property to another. After you have entered into a contract to purchase or sell real estate and all “subject to” clauses have been removed, the assistance of a lawyer or notary is required to complete the transfer of property in B.C.
Knowing exactly what to expect during this legal process assists greatly in ensuring a smooth real estate transaction and can greatly assist in the stress involved in buying and selling a home.
The process starts with choosing a law firm to handle your conveyance. Your realtor or mortgage broker may suggest someone, but the choice is ultimately yours to make.
We start by reviewing of all relevant documents such as the Title of the Property, the Contract and Lender mortgage requirements to ensure the property being purchased or sold is exactly as expected and there are no concerns.
We then prepare all necessary documents and work with your lender, insurance company, realtor and the other party’s lawyer to ensure everything is in order and ready for completion.
Next we meet with you and take the time to explain each and every document you sign to ensure you feel comfortable and informed about the process.
Lastly we review everything one last time and if purchasing property we arrange the payment of the purchase price to the seller and attend to registering the property into your name with the Land Title Office. If selling property we receive payment of the purchase price, transfer ownership to the purchaser, and attend to discharging any exisiting mortgages and provide you with the sale proceeds.
A lawyer is an invaluable asset during the entire conveyacing process as we can provide you with legal advice for your Contract prior to removal of subjects to ensure there are no issues and unforeseen expenses and our Real Estate litigiation team is ready to handle any situation including when the purchaser or the seller refuses to complete the transaction.