Buying or Selling Homes and Properties: The Law and Real Estate
Real Estate – land, buildings, orchards, farms, vineyards, homes, condominiums or “condos”, commercial properties and essentially anything to do with the ground – is the most important financial asset of most South Okanagan individuals and families and the foundation for their future and financial security. Their Real Estate provides their family with shelter, security and is an important component of most people’s retirement plans. Real Estate is also often a business’ most valuable asset and in a great many situations is critical to its operation and success.
Since it is such and important transaction – in fact, usually the most important one in their lives, the law provides extensive protection for the owner and the purchaser of Real Estate through very specific laws, procedures, regulations and rules that ensure secure title (i.e., ownership) to their Real Estate.
In British Columbia, ownership and other interests in Real Estate such as mortgages or long-term leases must be registered in the Land Tile Office. The procedures and legal requirements vary from province to province in Canada.
Every legal aspect of a purchase or sale of Real Estate must be handled properly. Such a valuable asset can always be the target of unethical and dishonest individuals. The law sets out practices to protect legitimate owners and defeat attempts to dishonestly gain ownership or other benefit from your rightful property.
In addition to ownership matters, there are also numerous laws and regulations will impact such things as permitted uses, Real Estate developments, Strata properties or condominiums, mortgages, municipal by-laws and more.
Feel free to use the form in the sidebar to ask us questions you may have or give us a call (local 250 492-2425 or if you are out-of-town call us Toll Free 1-877-492-2644).