When do I need to retain a Real Estate lawyer?
We would recommend that you retain a real estate lawyer at the same time that you retain a Realtor and/ormortgage broker. This will assist in ensuring that everyone is on the same page. This also ensures a smooth transition when your conditions have been waived or satisfied and your Realtor forwards your file to the law firm for further handling.
Why do I need a Real Property Report?
When buying or selling a house or bareland condominium, a Real Property Report is usually provided, which is a survey that shows where all the structures are located on your property in relation to the property line. It is usually the obligation of the Seller to provide this document to the buyer prior to closing. It is important that the Real Property Report shows the current state of improvements, along with evidence of compliance with certain municipal by‐law. Improvements may include fences, decks, outbuildings, window wells and a/c units.
What is the purpose of an Estoppel?
When purchasing or selling a condominium, it is essential for a buyer to ensure that all the condominium fees and special assessment levies that are the responsibility of the seller’s are paid in full up to and including the closing date. Contractually, a Seller is usually obligated to provide an Estoppel Certificate on closing. This document provides assurance to the buyer that as of the closing date, the buyer is only responsible for fees levied and owing thereafter.
Why should I hire a lawyer to draft my will?
A lawyer can assist you in preparing a will, especially if you have unusual or complex circumstances. Your lawyer can ensure that your wishes are carried out and your solicitor should retain notes on file to provide evidence of your requests. A lawyer can also assist in reducing the chance of family disputes when your estate is administered. A professional will stand behind the documentation that they draft which may also include an enduring power of attorney and a personal directive.
How do I incorporate a company?
You can use a lawyer to assist in incorporating a company or creating another business structure that would best suit your needs. When incorporating, we will also try to ensure that you have a share structure to anticipate future growth and transition. You may also require an agreement between the shareholders to provide some certainty between the owners of the corporation when different circumstances arise. You will find that the exercise of discussing the potential contingencies and the desired results with your business partners is invaluable at the outset. Furthermore, the relationship that you have with the lawyer that assists with your incorporation may be useful down the road when other legal issues arise, such as preparing contracts and obtaining financing.