Purchasing a home is a significant investment, and the legal process must be handled correctly. In Alberta, lawyers are required to complete the transfer of property ownership. The role of a real estate lawyer is to ensure the transaction is accurate, compliant, and secure.
Reviewing the Purchase Contract
Your lawyer reviews the purchase contract to confirm key terms, including price, conditions, possession date, and included items. If issues arise, your lawyer negotiates adjustments or clarifications with the other party.
Managing Title Searches and Due Diligence
A title search confirms legal ownership and identifies any:
- Mortgages
- Liens
- Caveats
- Easements
Addressing title concerns early helps prevent closing delays.
Coordinating With Lenders and Realtors
Your lawyer works with your mortgage lender to prepare financing documentation, ensure funds are transferred correctly, and confirm lender requirements are met. They also communicate with your realtor regarding condition removal and closing timelines.
Preparing and Registering Documents
Your lawyer prepares transfer documents, the mortgage (if applicable), and ensures registration with the Land Titles Office. Proper registration is critical for proving legal ownership.
Handling Closing Day
On closing day, your lawyer:
- Receives and distributes funds
- Pays out any existing mortgages or encumbrances
- Transfers title into your name
- Releases keys when the transaction is complete
Conclusion
A real estate lawyer safeguards your interests, ensures the legal transfer of property, and helps avoid costly errors. Their involvement provides confidence throughout the purchase process.