The following are the answers to our most frequently asked questions. If you have any more questions, please do not hesitate to contact us. We are delighted to assist.
What exactly is the "Concept of Ownership?"
The owner of a property held the lands from the sky to the center of the earth under English Common Law. This has been changed!
For example, the Crown has owned all mining and mineral rights since 1905 by Royal reserve.
The Provincial Government Land Titles Office registers all land in Alberta. (LTO)
What precisely are "Real Estate Reports?"
This report depicts the position of improvements (that is, anything constructed on the site), such as the home, garages, fencing, decks, covered walks, sheds, fire pits, dog runs, hot tubs, and roadways. There will be no trees!
What exactly is "Compliance and Nonconformance?"
The lawyer will go over the report with you to ensure compliance. Compliance indicates that the house conforms with all city construction requirements and setback regulations. Non-conformance indicates that the home would not comply if built today, but because of its age, the city would "grandfather" it. Both are appropriate.
What really is "Tenancy at Will and Possession?"
The date mentioned in your contract will be the date of possession. However, due to summer delays at the Land Titles Office, the actual payment of monies to the seller's lawyer is frequently delayed by a few days. A "tenancy," or a short-term lease, is granted in this circumstance to allow the purchase to move into the residence.
What do you mean by "Title Searches (Encumbrances)?"
All title concerns are evaluated by the lawyer, including encumbrances (interests recorded on title), mortgages, caveats, utility rights of way, encroachment agreements, party-wall agreements, and restrictive covenants.