Transferring ownership of Land:

Adding---There can be instances when you wish to add someone to your title.  For example, if you wish to add your new spouse or an adult child, we can prepare the necessary documents to do this.

Deleting--In the event that you wish to take someone off title, again we can prepare the documents, depending upon the circumstances.

Transmission--when one of the joint tenants passes away, we can assist with preparing the necessary "transmission" form which needs to be sent to Land Titles with a death certificate and title is changes without any problems.

Tenancy:  It is important to note that tenancy is very important.  Land can be held by 2 or more persons in "joint" tenancy or "tenants in common".  The difference is as follows:

Joint -- this is usually held by spouses.  They both own 100% so if one dies, the other automatically gets 100% without any wills, or probate or administration.  In fact, jointly held land does not go through the estate at all.

Tenants in Common -- this is not automatic.  If one owner dies, then the deceased's estate is in charge of their share of the land and hopefully a Will has been prepared which dictates which beneficiary the portion of the land goes to.  This is common where a brother and sister hold title.  That way, if one dies, their estate gets their share.

If you are buying a house and need a mortgage--shop around!  Banks are very competitive now and will actually reduce their rates a bit if you ask them or tell them that you are checking around.

Once you have the mortgage in place, you will need a lawyer to finalize the deal.  

Mortgages:

1.  Fixed rate -- the bank will set a term of 5 years (for qualifying purposes) and an amortization of 25 years.  You can negotiate a different term and amortization period.  Obviously the lower the amortization period, the higher the payments.  In any event, a fixed rate gives you the satisfaction of knowing that your payments are going to stay exactly the same, for at least the first 5 years.

2.  Variable rate -- the bank will lend at the rate of something like 1% above prime.  This can sound wonderful, but be careful because if rates go up, so does your payments!  However, the banks do allow you to change it to a fixed rate mortgage if it looks like rates are going to skyrocket.

3.  Credit line mortgages -- these are now more popular as one can access any equity when ever you wish.  For example, if the value of your property and or your home is $400,000 and you have borrowed $300,000 on your credit line already, you do have access to the other $100,000.  The only problem is, if one is not careful with their withdrawals, the balance can quickly grow, which defeats the purpose of paying off one's house!

Payment options:

1.  Monthly -- is the standard payment choice (12 payments a year).  Its easy and simple but you pay for the entire 25 years and save no money on interest.

2.  Bi-monthly -- this is twice a month, usually on the 15th and 30th of every month (24 payments a year).  Basically you divide your monthly payment into two installments and it does save you some of the costs on interest.

3.  Bi-weekly -- this means every second Friday (or whichever date you choose) and you make 26 payments a year.  You save much more on your interest cost and payout the mortgage much earlier.

4.  Weekly -- this is the best and you pay a payment once a week (52 payments a year).  You save a ton in interest and pay off your mortgage about 7 years early!   It's not as scarey as it sounds because you take the monthly mortgage payment x 12 then divide by 52.  You just start paying earlier and make about 2 extra mortgage payments a year.  It is well worth it in the long run!

Refinancing should be an easy task.  However, quite often the bank will impose a list of demands.  We will ensure that all the demands are met and ideally all the payouts required are taken care of.

This will involve ordering payout statements from each creditor, and ensuring that the total does equal the amount we are refinancing.

*  Residential purchase

*  Residential purchase and mortgage;

*  Residential sale

*  Refinance

Buying or selling your home can be very stressful.  We are here to make it easier.  We will ensure:

Title search -- to investigate any and all liens on the property;

Document search -- if there are any registrations that are curious or strange, such as a builder's lien or a judgment;

Tax search -- to ensure that the property taxes are paid or up to date;

Real Property Report -- to see how and where all the buildings are located;

Compliance Certificate -- to ensure the buildings all had permits and see if anything is encroaching or if there are any problems on the land;

Title Insurance -- sometimes banks will demand this, especially if there is a problem with compliance.  Instead of dealing with the compliance issues one can get title insurance for a fee (usually around $250).  The down fall of getting title insurance is that it may satisfy problems initially, it will not help when you try to sell your land later-- if the buyer demands a new Real Property Report and Compliance which can be very costly to you in the future.

Mortgage -- we will prepare the mortgage according to your bank's instructions and verify the details with you;

Chattels -- what items are to stay?  what items were not to be included?  We will verify and help take care of discrepancies, if any.