Professional Real Estate Lawyers in Vancouver, BC
Titan Law provides real estate conveyancing services for those looking to purchase, sell, or refinance residential and commercial properties in Canada.
Buying or selling property can be one of the most stressful transactions you might ever encounter, however, the team at Titan Law is here to guide you through the process. Our real estate lawyers are knowledgeable and resourceful and have experience in dealing with all types of property transactions. We are here to ensure there are no surprises and carry out a smooth transaction.
Our Lawyers Specializing in Real Estate Conveyancing are Ready to Help You
WHAT IS CONVEYANCING?
If you are buying or selling a property, or looking to change the title of a property, you will be involved in conveyancing.
Conveyancing is the process of transferring legal title and ownership of property between parties. This includes property titles, mortgages, liens and other charges registered on the property. It is the legal process legitimizing real estate transactions in Canada.
Real estate transactions can be quite complex and involve a lot of paperwork. Even those familiar with the process can get lost in the steps and legal jargon. A real estate lawyer not only handles the transaction from start to finish, they are also there to protect your interests and ensure there are no surprises that could hinder the transaction.
A real estate lawyer is responsible for reviewing the Agreement of Purchase and Sale along with other legal documents pertaining to the sale to ensure the seller’s interests are protected. The lawyer will negotiate the terms and conditions in your favour and ensure all closing conditions are satisfied, including the payout of the mortgage.
Fraudulent conveyance, also known as “fraudulent transfer” with regards to property law, refers to the illegal transfer of a debtor’s property within two years of filing for bankruptcy, where the debtor was insolvent and did not receive any consideration. This also refers to conveyances made to hinder, delay or defraud creditors by placing the assets out of their reach.
A Deed of Reconveyance is a document commonly issued when a borrower repays the lender of a mortgage in full, allowing the property title to be transferred from the lender to the borrower. It indicates that the borrower has satisfied all conditions of the loan and now owns the property entirely.
Conveyance tax, also known as “property transfer tax” is tax paid when you purchase or gain an interest in a registered property. The tax is calculated based on the fair market value of the property on the day it was registered with the Land Titles Office. The general property transfer tax is currently 1% for properties up to and including $200,000; 2% for properties valued from $200,000 up to and including $2,000,000; and 3% on properties greater than $2,000,000.
Voluntary conveyance, aka voluntary transfer is the transfer of title of a property from one person to another without receiving consideration. The transfer is done in good faith by public or private grant or by public dedication.