Purchase / Selling of a property / Promise to purchase
When buying or selling a property, the intervention of the notary is very important. Sometimes it's a matter of preparing a promise to purchase or simply having the advice of a notary before signing a promise to purchase. The promise to purchase is a contract that will affect your sales contract later. The notary must make several verifications before proceeding to the deed of sale. He must verify the state of the municipal and school taxes, the conformity of the certificate of location, the condo fees (if applicable), and above all, make a title examination. Thus, the notary ensures that the charges affecting the property will be refunded and canceled in order to provide a clear and valid title deed. The notary keeps the entire file for a minimum of 10 years and will be responsible for his work and his verifications. This is a professional service.
Mortgage financing
When you are buying a property you may need an hypothecary loan/mortgage. There is also a line of credit or a loan guaranteed by an hypothec that may be necessary to realize certain projects. This will need the intervention of a notary to explain the rights and obligations of the borrower and the lender regarding the guaranty that will be registered on the property. This way, both parties are protected.
Release / discharge
When an hypothecary loan is completely reimbursed, you have to mandate a notary to release the property from the registered guaranty. Also, when you sell a property, the notary has to reimburse all the loans or charges affecting the property by publishing a deed of acquittance/discharge. This way, it liberates the property from the lender’s rights and the property becomes free and clear of any charges
Servitude
A servitude is a deed between property owners correcting or confirming some conflicting situations between neighbours. It may be about a right of encroachment, a right of way or a right of views permitting openings that are too close and do not respect the legal requirements, etc. It can also be about granting a right for public utilities in favour of a City, Hydro-Quebec or Bell Canada, or others. The notary publishes this document to ensure the respect of the agreement that becomes a personal or perpetual real right, as the case may be.
Declaration of transmission
When the death of the owner of an immovable property occurs, you must transfer the rights of the deceased to the estate. The notary will do a will search at the Chamber of Notaries of Quebec and at the Quebec Bar Association to confirm if there is a will and to know who are the heirs. When the declaration of transmission is published, this is how the estate acquires a valid title.
