Today, we’ll transcribe two more of the videos on our channel. The first transcript, below, of the video below it, talks about what happens when you add your spouse to a property title.
I want to include my spouse on title and do a refinance. Does that change anything?
Yes. So, when you are bringing somebody else on title, it’s like a purchase and a sale, even though it’s a spouse or a family-related person.
We need to change the ownership of the property. So, we are going to be doing a purchase and sale even if no money is being exchanged, and then register the new mortgage.
We need to do it all combined, but it is going to be like two separate transactions in terms of registration and the land titles documentation.
So, we will need not only information from you, but also information about the new person who will be coming on title like full legal name. And the person will have to come to sign the paperwork as well. The person will also need to bring two pieces of identification, at least one with a picture and the secondary could be anything that has the person’s name.
Here is a transcript of another video below on what happens if you need to be away on the completion date of the real estate transaction.
If I’m going to be out of town on the completion date, what do I do?
Anytime you are buying or selling a property, and you are out of town on the day that we are completing the paperwork, the signing day, that can be easily solved if we know that ahead of time, and we can prepare a Power of Attorney, where you give powers to someone to sign those documents on your behalf.
So, when I’m representing a client, and that’s the circumstance, we would register the Power of Attorney in advance, so by the time the appointment for signing comes, then the client, the person who is signing on behalf of the seller or buyer, has full authority already and everything will proceed as scheduled.
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Real Estate Legal Services in BC
At Zancope Notary Public, we offer real estate services for clients in Langley and throughout Greater Vancouver and the Fraser Valley. We can help you with buying, selling, and refinancing real estate, and also provide family property transfers and independent legal advice. We are a full-service firm that is well acquainted with real estate law.
If you have any questions about this article or real estate transactions in general, or if you want to make an appointment with Zancope Notary Public, please contact us at (604) 260-6783.
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