Transfer of Ownership

If you’re buying a business or home in the city of Vaughan, or any other city in Ontario Province for that matter, a transfer of title is required in order to transfer ownership of the property when closing the transaction. Other scenarios where transfers of title may be required include:

• If the owner of a property wants to add a spouse, partner, or other family member to the title or remove a name for estate planning purposes
• If the parties who own the property are separating
• When an individual decides to refinance a property and the lender or other financial institution involved requests that another individual be added to or removed from the title in order to qualify for a mortgage

These are areas of the law that the Makaronets Real Estate Law Firm specializes in and can provide assistance. When it comes to protecting the interests of buyers and sellers in real estate transactions, we have years of experience and expertise.

How We help Buyers and Sellers

Our legal team helps clients transfer property titles and educates them on important transfer-related information. For example, if a title is held among multiple buyers, we explain how the rules for joint tenants and individual tenants differ. Furthermore, we explain fees that apply to the transfer of titles in a comprehensive manner including:

• Land registry sub-searches
• Land transfer tax
• Legal disbursements
• Legal fees
• Registration costs

A change in title registration not only enables you to transfer ownership of a property, it also enables you to add an individual to a property title or remove any parties who no longer have any interest in said property. The Makaronets Real Estate Law Firm can assist in preparing land transfer tax affidavits while at the same time ensuring that the property is legally yours when closing a real estate transaction.

Our legal team will work with you if legal claims or liens against the title of a property threaten to delay the sale of any real estate. Keep in mind that a home or property that is purchased in Ontario Province cannot legally be yours until a transfer of title has been completed. Additionally, other family members who offer to give or sell a property to you may not be authorized to transfer the title to anyone else.

Our lawyers ensure that you’ll be working with the property’s legal owner when you’ve been offered a home, investment property, or land. In addition to this, we’ll protect you against fraud and misrepresentations by performing a thorough title search before any property deed is transferred into your name. Remember, only a qualified professional can register property titles in Ontario Province.

When do You need to Transfer a Property’s Title?

There are 6 occasions when a property title transfer is required in Vaughan as well as throughout Ontario Province including:

• When a common-law partner or legally married spouse dies and joint tenants hold the home, thereby leaving you with survivorship rights as the property’s legal owner
• When adding parents or children to the title of a property
• When you add or remove guarantors on a mortgage loan during a refinance
• When you and friends purchase a shared residence
• When you get married, separated, or divorced and own a property jointly
• When you invest in commercial property with partners

Adding family members to property titles is cost-effective and efficient when you hire the Makaronets Real Estate Law Firm to assist in any real estate transaction. We will:

• Arrange your title insurance so your home is protected against fraudulent activities and scam artists
• File new property titles with the local land registry office
• Prepare legal documents for adding family members to your title
• Search property titles for any financial or construction liens that may exist

Now you can transfer your property title with confidence. We are available for virtual as well as in-person consultations. Contact the Makaronets Real Estate Law Firm at your earliest convenience.

• [email protected]
• 1-800-792-7160