Real Estate Transfer In Vancouver – What Is A “Conveyance?”
Simply put, a “conveyance” is the transfer of ownership of real estate from the vendor (the seller) to the purchaser. The conveyancing process involves a notary public or lawyer, who will gather and prepare the forms and other documents necessary to “convey” the title of the property from the seller to the buyer.
What Is The Role Of A Notary Public Or Lawyer In Conveyancing?
Generally, a notary public or lawyer will act on your behalf to sign documents and facilitate all transactions involved in a real estate transfer.
The conveyancing process in Vancouver involves the drafting of a number of documents. All of these documents can be drafted at Vancouver Downtown Notary Public, and are essential in the real estate transfer process. Some of these documents include:
- A document known as a “Form A Transfer”, which the seller will sign in the presence of a notary public to confirm that they agree to convey the ownership of the property.
- A “Property Transfer Tax Form” which is required for every real estate transfer in BC, shows how much transfer tax is to be paid unless an exemption is being claimed.
- A “Form F – Certificate of Payment,” required when the property is a condo or strata.
- A Buyer’s and Seller’s Statement of Adjustments.
- A Tax Certificate, which is ordered to show how much property tax is owing and how much has already been paid.
- A State of Title Certificate, ordered after the Transfer is registered, which guarantees the authenticity of the Registered Owner.
- Form B Mortgage – if you are getting a mortgage on your property, the Form B is the document that registers the mortgage on title.
- Form F – this document provides information about the strata corporation and shows if all strata fees have been paid up to date.
- Statement of Adjustments – This shows all the debits and credits; all the money that is coming in and going out.
At Vancouver Downtown Notary, we handle all aspects of the conveyancing process. We ensure a smooth transaction, meet with you at various points throughout the conveyancing process to review the necessary documents, and make sure all your questions are answered.
In short, a notary public or lawyer acts on your behalf to ensure your purchase or sale completes without issue, so you can focus on other areas of life. Buying or selling real estate is a big deal, so we make it our top priority to ensure that the conveyancing process is done right, the first time.
Do you have any more questions about real estate transfer in Vancouver, or the conveyancing process in general? We’re here for you. Contact our notary office or call us at 778-819-8553.