Real Estate Transaction & Refinance

Our team is pleased to offer the following real estate conveyancing services:

• Purchase and sale of real estate
• Purchase with financing
• Refinancing
• Transfer of title
• Transmission of title to surviving joint tenant(s)

What is conveyancing?

“A term including both the science and act of transferring titles to real estate from one man to another. Conveyancing is that part of the lawyer’s business which relates to the alienation and transmission of property and other rights from one person to another, and to the framing of legal documents intended to create, define, transfer, or extinguish rights. It therefore includes the investigation of the title to land, and the preparation of agreements, wills, articles of association, private statutes operating as conveyances, and many other instruments in addition to conveyances properly so called.”
- Sweet; Livermore v. Bagley, 3 Mass. 505.

Source: http://thelawdictionary.org/conveyancing

How does CONVEYANCING work?

From the buyer’s perspective:

1. Once the buyer(s) confirms to retain our service to act on their behalf, we will request a signed copy of the contract of purchase and sale from either the buyer(s) or the real estate agent.
2. We will then perform a title search electronically at the Land Title Office. This is to verify the owner of the property matches with the seller on the contract. The title search will also show if there is any other charges on title that needs to be removed. These charges may include other mortgages, caveats, judgements, and liens. If such charges exist, we will work with the seller’s solicitor to ensure that these charges are removed by the sellers prior to the transfer.
3. We then gather other necessary documents such the conveyancing instructions from the realtor’s office, mortgage instruction from the lender (banks), Form F Certificate of Payment & Form B Information Certificate from the strata corporation (if it is a strata property), survey or title insurance (if it is required by the lender), and insurance binder, if applicable.
4. Once we obtain all documents, we will prepare two sets of documents – one for the seller and one for the buyer.
5. We will set up a meeting with the buyer(s) 1-3 days prior to completion date.  During our meeting we will explain and sign each document with the buyer(s). There are various documents involved and mostly will include Form B Mortgage, Property Transfer Tax form, mortgage terms, and statement of adjustments. We will also ask the buyer to bring in the balance of funds required to complete the transaction in the form of a bank draft.
6. The other set of documents will be sent to the seller’s solicitor to arrange for signing by the seller. The seller’s solicitor will return the signed documents to the us prior to the completion date.
7. If the buyer(s) is applying for a mortgage, we will request funds from the lender prior to the completion date. We will also ensure that the excess deposit has been received from the realtor. This is to ensure we have enough funds to complete the transaction.
8. Prior to the completion of the transfer of title, all documents are reviewed again and a pre-registration title search is performed. This is to confirm that there have been no new charges registered against the property by comparing it to the search we did when we first opened the file.
9. Once we confirm that no new charges have been put on title, we can proceed with the actual transfer of title. Once that is done, we will need to perform another title search shortly after to ensure that no other application is registered in the Land Title Office against this property.
10. When the title is transferred without any problems, we will contact the seller’s solicitor and pay them the seller’s proceeds.
11. If the seller has an existing mortgage on the property, the seller’s solicitor will  pay off the mortgage with the proceeds prior to the release of any extra funds to the seller. We will ensure to receive confirmation of such from the seller’s solicitor within 5 business days. The lender must provide the Form C Discharge to the seller’s solicitor within 30 days after receipt of such request.
12. Once we receive confirmation of the registration of the discharge from the seller’s office, we will order a State of Title Certificate – a document signed by the Registrar of the Land Title Office to confirm ownership belongs to the buyers – and send it to the buyer. The conveyancing process is now complete.

From the seller’s perspective:

1. Once the seller(s) confirms to retain our service to act on their behalf, we will request a signed copy of the contract of purchase and sale from either the seller(s) or the real estate agent.
2. We will then perform a title search electronically at the Land Title Office. This is to verify the owner of the property matches with the seller on the contract. The title search will also show if there is any other charges on title that needs to be removed. If so, we will work with the seller to ensure these charges are removed prior to the transfer.
3. We will request documents from the buyer’s solicitor. This set of documents usually involves Form A Freehold Transfer, Seller’s Statement of Adjustments, GST Certificate, Residency Declaration, Park Stall/Storage Locker Assignment (for condo), and Survey Declaration (if applicable).
4. We will review these documents to ensure their accuracy prior to scheduling a meeting with the seller for signature, usually 1-3 business days prior to completion date.
5. After these documents are signed, we will return them to the buyer’s solicitor, on their undertaking that they will not file the transfer until the closing date and that they confirm that the required funds to complete the transaction is obtained from the buyer. They will also undertake that the funds will be deliver to us, payable to the seller, upon registration of the transfer.
6. Once we receive the funds from the buyer’s solicitor, we will pay out the existing mortgage, if any, to the lender, and any other disbursements and expenses.
7. We will arrange with the seller to deliver the outstanding funds to them according to the seller’s statement of adjustments.
8. We will confirm with the buyer’s solicitor that the existing mortgage is paid off by providing proof of delivery and the copy of the bank draft to the lender within 5 business days.
9. We will request the Form C Discharge from the lender upon the mortgage payout, and the lender must deliver the Form C to us within 30 days.
10. Once we receive the Form C Discharge from the lender, we will register it with the Land Title Office electronically.
11. We will notify the buyer’s solicitor of such and the transaction is then complete.

 

Wills and Estates

Having a Will is arguably one of the most important things you can do for yourself and your family.
We proudly provide the following services to our clients:

• Wills drafting
• Estate planning and consultation

Top 10 Reasons to have a WILL

A Will can speak for you and spell out exactly how you would like things handled after you have passed on. It provides legal protections to your loved ones and ensures that they receive proper distribution of your assets and the care they deserve according to your wishes. Here are the top 10 reasons why you should have a will.

1. You decide how your estate will be distributed – The Wills, Estates and Succession Act (WESA) provides a prescribed distribution scheme of your estate when you die intestate (without a will). If you want your assets to be distributed the way you want, you should specify it in your will.
   
2. You can name your beneficiaries – A Will ensure that your assets will pass on to the people according to your wishes and prevents your estate from passing to unintended beneficiaries.
3. You can bequests specific gifts to specific individuals – A Will allows you to pass on specific items, perhaps with sentimental value, to specific individuals, to avoid dispute over who get what.
4. You can appoint your executor – An executor is a person who is responsible for carrying out the intentions in your will. If you don’t have a will, your loved ones will need to apply for a grant of administration through the Court in order to handle the estate, which could be a lengthy process.
5. You can decide who is the guardian for your children – A Will allows you to address the issue of guardianship in the event that both parents die. Where there is no surviving parent, and no guardian has been appointed, the court may hear applications to appoint a guardian under the Family Law Act.
6. You can specify how to fund your children’s education – You can include a provision in your Will to set aside certain funds for tuition or education for your children. You can also designate a trustee to handle the fund until your children turn 19.
7. You can plan for your funeral arrangement – The last thing you want your family to deal with when they are already grieving their loss is to choose between burial or cremation. You can specify how you want to be treated upon your death. You can also direct your estate to pay for your funeral cost.
8. You can leave a charitable donation – Many people like to leave a legacy or charitable gift in their Will to a charity of which they may have a special connection to when they were alive.
9. You can prevent family dispute – A clearly drafted Will makes your intentions and wishes clear, so there is no question of your wishes. You can also include specific reasons for certain decisions you made in your Wills to reduce the chance of it being challenged.
   
10. You can reduce stress for your family – Handling your estate should not cause any further stress to your family, while they are grieving for your death. A properly drafted Will helps your family to carry your final wishes without any guessing what your true intentions are.

The Process of Drafting and Executing a Valid Will

Our team will ensure a simple and smooth process while maintaining strict confidentiality on all the information you provided to us when drafting your Will.

1. Prior to our consultation, we will discuss with the will-maker the different aspects in a will that he/she wants to consider. 
   
2. Once the will-maker has spent the time to discuss it with his/her family on how the Will to be drafted based on those considerations, we will set up a time either on the phone or in person to discuss the details in greater depth.  In order to draft the Will properly, we will require  certain information such as family dynamics, who will be the executor(s) and beneficiar(ies), and how the assets will be distributed etc. It is important that the will-maker provides this information him/herself as this allows us to ensure that the will-maker understands the intention of the Will and has the mental capacity to make a Will.
3. After the in-depth consultation, we will start drafting the Will according to the will-maker's wishes and instruction.  This usually takes about 1 week.
4. Once we have the initial draft ready, we will send it to the will-maker to review.  This gives the will-maker an opportunity to make any revisions on the draft to ensure that his/her wishes are communicated accurately on the will.
5. Once the will-maker is satisfied with the draft, we will then arrange a face-to-face meeting and review the Will one more time before signing. We will also arrange two witnesses (one being the Notary) to sign the Will to make it a valid Will that is recognized in Court.

 

Powers of Attorney, Representation Agreement, Advance Directives

Our team specializes in drafting the following personal planning documents:

• General Powers of Attorney
• Enduring Powers of Attorney
• Specific Powers of Attorney
• Representation Agreements
• Advance Directives

What is a POWER OF ATTORNEY?

A Power of Attorney is a document that a person, called the adult, uses to appoint another person, called an attorney, to make financial and legal decision for them. An example when you could use a Power of Attorney is when you are going out of the country for a while and you want someone here to handle your banking. The Power of Attorney ends upon the death of the adult.

The difference between a general and an enduring Power of Attorney is that, while both documents empower the attorney to handle financial and legal matters on the adult’s behalf, a general Power of Attorney become invalid if the adult becomes mentally incapacitated. An enduring Power of Attorney allows the attorney to continue to act for the adult should the adult becomes mentally disabled. 

A specific Power of Attorney can also be given to the attorney to perform one or more specific things for the adult. This is often used when an adult appoints an attorney to handle a real estate transaction on his or her behalf, but only for a specific property.

What is a REPRESENTATION AGREEMENT?

A representation agreement is another type of legal document which allows individuals to plan for the possibility of future incapacity. It allows you to authorize one or more person to act as your representatives to help you manage your affairs and to make decisions on your behalf in case of illness, injury, or disability.

There are two types of Representation Agreements:

A Standard Representation Agreement, commonly known as Section 7 Agreement (RA7), allows an adult to appoint a representative even though the adult is incapable of making a contract, managing his or her health care, personal care, legal matters, or financial affairs. In other words, it is a legal document for personal planning that is available to adults who need help today because their mental capability/competency may be in question.

The intent of an Enhanced Representation Agreement, also known as Section 9 Agreement (RA9), is to provide an adult in British Columbia with a way to make the most comprehensive and strongest legal planning document possible to cover health and personal care matters. It allows an adult, who is capable now making his or her own decisions, to prepare an agreement which can be as broad or detailed as the adult wishes to be, and it goes beyond the limited provisions of a standard S.7 agreement.

What is an ADVANCE DIRECTIVE?

An Advance Directive is a legal document that allow an adult to spell out his or her decisions about end-of-life care ahead of time. It gives the adult a way to tell his or her wishes to family, friends, and health care professionals and to avoid confusion later on. The health care provider may follow an instruction in an Advance Directive giving consent to specific health care; however, they must follow an instruction that refuses consent to specific health care. Also, unlike a Representation Agreement, it does not appoint a person to act on the adult’s behalf.

How does an Advance Directive fit with a Representation Agreement?

In the event that an adult has created both an Advance Directive and a Representation Agreement, the Representation Agreement takes priority, regardless of which document is made first. The representative must follow any instructions or wishes you expressed verbally and/or in writing, including in an Advance Directive. However, a statement can be included in the Representation Agreement that a health care provider does not have to involve the representative in the specific health care decision(s) covered by the Advance Directive. In such instance, the Advance Directive will take priority.

 

Notarization

Different private or public agencies often require a document to be notarized before they will accept it. The main purpose of notarizing a document is to allow an official, such as a notary, to verify the identity of the person signing the document. The Notary will also confirm the signatory understands the meaning of what she or he is signing and is doing so voluntarily.

Here are some of the documents that require notarization:

• Authorization of Minor Child Travel
  
• Certified True Copies of Documents
  
• Insurance Loss Declarations
  
• Letters of Invitation for Foreign Travel
  
• Notarizations/Attestations of Signatures
  
• Passport Application Documentation
  
• Proof of Identity for Travel Purpose
  
• Affidavits for All Documents required at a Public Registry within BC
  

 

Authentication

What is Authentication?

"Authentication” is a method of notarization of documents that allows foreign courts and authorities to rely on the genuineness of documents execute in Canada.

Authentication verifies the membership and standing of a Notary Public as well as the Notary’s seal and signature. When a request is made, the Society of Notaries Public of BC checks its records to confirm the Notary’s membership and standing and compares the notarial seal and signature on the document being submitted against its membership records. After the Notary’s membership, signature and seal are confirmed, the Society of Notaries Public of British Columbia will issue a Certificate of Authenticity, which will be attached to the document requiring an authentication.

If further assurance is necessary for the receiving country, the document and the Certificate will be sent to the B.C. Ministry of Justice for verification of the signature of the Secretary or Acting Secretary of the Society. Once the process is complete, nothing may be added to or removed from the document.