The decision to buy or sell a home in Edmonton is a big one. It isn’t like putting up an old TV for sale online or selling a vehicle. Not only is it probably your largest financial investment, but it is also a major personal decision as you decide where you want to base your family. It is important to work with an Edmonton conveyancer when completing your real estate transactions to make sure your investment is protected and your process is stress free.
What Is Conveyance?
A legal contract is different from documents such as newspaper articles and fiction novels. Contracts and other legal documents must follow an exact form and protocol to be considered legally fixed and enforceable. The format of legal documents varies from one country or even one province to the next. This is especially true when it comes to property titles and other materials that certify ownership of a property.
When someone buys or sells a property in Edmonton, the parties enter into a purchase and sale contract that sets out the terms of the transaction such as the sale price and the possession date. The contract is drafted according to Alberta laws related to real estate contracts. The transfer of the property title or ownership from the seller to the buyer is registered at the provincial land registry. This process is known as the conveyance.
An Edmonton conveyancer is usually a real estate lawyer, who is relied upon to create the documents required to complete the transfer of ownership and execute other tasks, such as title searches and registration of the property transfer. A real estate lawyer does not usually prepare the purchase and sale contract as this is usually completed with the real estate agent.
This applies to both sides of a property transaction. A homeowner in the process of selling should talk to a real estate lawyer about the preparations that need to be made for the sale and transfer of title and ownership. For a person buying a home, it’s best to let a real estate lawyer create the documents required for conveyance. This is especially true if there are any variations in the sale that would require amendments to standard document templates that may be available online.
If you’re thinking of selling a property or getting close to the point where you are ready to make a real estate purchase, make sure to prepare for the process well. Talk to an experienced real estate lawyer for proper conveyance and ensure that the transfer of ownership is smooth.