Real Estate Law
What is the role of the notary in real estate law?
The notary is the specialist in real estate law. Whether for the sale or purchase of your property, it is important to consult a legal adviser to avoid missteps. In addition, the notary can assist you with your mortgage and your discharge.
The notary ensures your legal security regarding your real estate and transactional transactions.
The notary and the purchase of your house
Don’t do it alone, get some expert advice!
Consult a Notary! Your inexperience in Real Estate Law could cost you dearly. Buying your first house should be planned. The offer to purchase documents can even be prepared by a Notary. Seek some advice from a qualified legal expert and not from your brother-in-law, unless he is a Notary!
The purchase of a property goes through three stages, regardless if it’s a cottage, a house, a condominium, etc. Firstly, you must submit a formal offer to purchase to the seller, said offer can be written by your notary. Then, if the seller agrees and the conditions are fulfilled, there is a sale and at this stage the negotiations are over. Finally, there is the signing of the deed of sale with your notary, which confirms the transfer of ownership. Your notary acts as an advisor, he explains to you your obligations, carries out the verification of the titles of property by means of a search of titles, obtains the certificates of the property taxes to proceed to the distributions (or adjustments) between the parts, obtains from the condo manager information relevant to the condominium, all for the protection of your rights and obligations.
The notary and the sale of your house
Word of caution when selling: an offer to buy contains more than just a price!
You wish to sell your house on your own? Did you know that it’s possible to consult a Notary before signing an offer from a potential buyer? This step may avoid unpleasant situations.
Just as the purchase of a house, the sale of your property goes through the same steps, that is to say the offer to purchase, the acceptation of said offer by the seller and the signing of the deed of sale. Your notary ensures the validity of the documents and he accompanies you throughout the transaction process. Avoid unpleasant surprises by consulting your notary before signing the offer of a potential buyer.
Mortgage, discharge and release deed
Why not change banks?
Did you know that you can choose which financial institution to do business with? Are there always financial penalties when moving your mortgage to another financial institution? Did you know that you can choose your financial institution? Is a home equity line of credit the same thing as a mortgage? Did you know that you are required to see a Notary to establish a mortgage on your home? Here are some questions your notary can help you answer. Have you recently completed paying your house? Then you should request a written confirmation. This will ensure you that the bank relinquishes its mortgaging rights against your guaranteed goods. Your notary will follow-up with your creditor, ensure that the authorized representative’s signature is received and that all appropriate legal documents are registered. Multiple types of discharge exist, as such; your notary will determine which one is the most appropriate for your situation.
Sale under judicial authority
Available, efficient and professional
Mortgagees handle this type of sale as the procedures involved require the services of an expert. Therefore fellow lawyer colleagues, don’t hesitate to appoint me as the “designated officer entrusted with the sale” for your mortgage clients.
The notary and the property acquisition through lapse of time
Property acquisition by lapse of time
Did you know that the Law permits property acquisition from one that claims ownership but does not necessarily have the official title? Your notary will help you determine if you meet all conditions to initiate this action and present this petition to the court on your behalf. Your notary will ensure that all applicable procedures to this process are diligently followed.