Whether you are buying, selling or mortgaging a home, or are involved with more complicated joint ventures, commercial leasing, or land development, real estate transactions are rife with potential pitfalls. In Ontario, more than 70 percent of Ontario residents were homeowners by 2006. This means that the majority of the population is affected by real estate in some way.
Your home or business is your largest asset, and one of the most important investments you will likely make. Buying and selling a home or commercial property is a life-changing event. While real estate ownership is exciting and can increase your wealth, the real estate process can also be stressful because it entails many complex legal details. If those details are not handled correctly, it can cause huge problems for you, your family, and your business.
During any real estate transaction, you need to be protected. This is where a lawyer comes in. Your real estate lawyer is an essential part of the real estate process. Your lawyer will ensure that everything goes smoothly with the both residential and commercial closings, including transfers of funds between the parties and land transfer registration. For residential properties, your lawyer will conduct a title search on the home to make sure there are no issues with the title. Your lawyer will also perform a personal property search to check that there are no outstanding debts on items that come with the home, such as furnaces, water heaters and the like. The lawyer will also check that all outstanding taxes have been paid and that there are no Court Orders or judgments affecting the property. For commercial properties, your lawyer will also advise you as to whether it is possible to develop an area of land, and advise on various building laws.
At Mackesy Smye, we work hard to ensure that your real estate transactions go smoothly. You can rest easy knowing that your interests are protected. In the event of a dispute, we will work to resolve any issues as painlessly as possible.
Mackesy Smye’s team of dedicated professionals includes lawyers knowledgeable in the intricate details of real estate law. Do not let real property’s potential pitfalls come between you and your dream of a better life through home ownership, joint ventures, commercial transactions, or land development.
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