Timmins Real Estate Law, Wills, Estate Processing and Incorporations
What’s Included – FEE: Title Transfer
Regarding Title Transfers, our office will:
NOT conduct full title searches and the person(s) receiving title will sign an acknowledgment that we are not doing so.
NOT obtain title insurance for the person(s) receiving title. If the person receiving title provides a written request for title insurance, we shall advise you of costs involved.
NOT arrange to advise the home fire insurance company of the change of ownership so that the person(s) to be on title are reflected in the insurance policy. Advising your insurance company provider is the responsibility of the homeowner(s).
NOT arrange to change names of owners on utility bills or to have matters, as advising utility providers is the responsibility of the homeowner(s).
NOT advise an existing mortgage lender of the title change, as this is the responsibility of the homeowner. Should any current owner wish to be removed from any obligations to a mortgage lender, you must arrange this directly with your lender.
NOT provide advice regarding any accounting or income tax consequences with respect to the intended change of title. It is understood that there are tax implications involved when transferring title, especially if the property is an investment property or not the principal residence of the homeowner.
Our legal fees for a transfer of title is: $475 + HST + disbursements (typically $200.00) + any applicable land transfer taxes
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