Title Transfer

Title Transfer Service Overview

As part of purchasing real estate, the closing of the transaction culminates with a title transfer, a pivotal legal process that signifies the transfer of ownership from the seller to the buyer. However, a title transfer is not solely confined to property purchases. Instances that may necessitate a title transfer also encompass situations such as when an individual wishes to refinance their property and the lending institution necessitates the addition or removal of a spouse or co-borrower from the title to qualify for a mortgage. Furthermore, a title transfer may be required in the event of a separation between property owners, or if a property owner desires to include a spouse or other family member to the title, or remove a name from the title for purposes related to estate planning. At MBLAW, we ensure a seamless and secure title transfer process, regardless of the scenario.

Title Transfer Process: A Step-by-Step Guide

When transferring title, a conveyancing lawyer has to ensure they performed appropriate title searches, obtained title insurance, advised current mortgage lender of any title changes and directed their client to obtain legal advice for tax and estate purposes. Moreover, the transfer of title requires an exchange of important documentation including but not limited to ownership documents, property tax bills, bank statements, and property insurance. All the individuals who are part of the title transfer transaction need to provide photo identification before signing the transfer documents. In most cases, two lawyers are required to complete a Title Transfer.


Reach Out to Us

Complete our contact form, detailing how we can assist with your title transfer needs.


Consultation and Confirmation

A member of our team will respond promptly to ensure that we can accommodate your timelines and check for any potential conflicts in our retainer.


Document Collection

After confirming the retainer, we will request you to provide all the necessary documents. This will enable us to accurately and efficiently facilitate your title transfer.


Document Preparation

Our team will meticulously prepare the required documents, ensuring that the legal ownership of the property transfers without any complications.


Final Document Signing

We will schedule an appointment for you to meet with our lawyer. During this meeting, you will sign the final set of documents pertaining to the title transfer.


Completion of Title Transfer

Once the title is successfully transferred, we will provide you with a copy of the deed demonstrating the transfer of legal ownership.

Title Transfer: Frequently Asked Questions

The applicability of land transfer tax largely depends on the nature of the title transfer. In most instances, if the title is being transferred between spouses, no land transfer tax is levied. However, for transfers between parents and children, siblings, etc., land transfer tax is typically payable. If you’re planning to gift your property, or are receiving a gifted property, we strongly recommend seeking advice from a tax specialist or an accountant to understand potential tax implications. For specific circumstances, please reach out to MBLAW for guidance.

In most cases, both the refinance transaction and title transfer will occur simultaneously. The bank usually sends instructions to the lawyer, including the names of the borrowers. If one borrower is not currently on the title, that individual needs to be added to comply with the bank’s instructions. Generally, the party “giving up” part of the ownership would need to seek Independent Legal Advice from another lawyer unconnected to the transaction. Once they are comfortable proceeding, both the title transfer and mortgage refinance take place.

Independent Legal Advice serves as a second opinion from a lawyer not involved in the transaction. It is often required by the bank when one or more parties to the commitment could potentially face a conflict of interest. This neutral lawyer can address any concerns or questions you might have, which you might feel uncomfortable discussing with the original lawyer due to the joint retainer and other involved parties. They can elucidate your rights and the implications of transferring part or all of the property to another party.

If your trust agreement adheres to the necessary requirements set forth by the Minister of Finance, then no land transfer tax will be payable. Your trust agreement, along with supporting documents, will be sent to the Minister of Finance once the transfer is complete. However, if any issues with the trust agreement are identified, you may need to pay land transfer tax retroactively.

The duration of a title transfer process can vary based on individual circumstances, including the complexity of the transaction and any potential issues that might arise. On average, the process can take several weeks. For a more precise timeline, please contact MBLAW directly.