How Does A Real Estate Lawyer In Vancouver Help Protect Against Risk?
When you hire a real estate lawyer in Vancouver, you know that they are trained to handle your conveyancing transaction In the vast majority of cases the transaction goes smoothly, but what happens in the worst case scenarios?
Issues during the conveyancing process can result in claims and potential legal action – something that everyone wants to avoid if possible.
Our real estate lawyers are fully aware of all major potential risks in real estate transactions and, unlike a notary public, are able to provide you with legal counsel.
Here are some causes of claims in conveyancing, that you should be aware of:
- Fraud – In conveyancing, fraud takes the form of value fraud (where the property price is inflated for a larger loan) and identify fraud (where the fraudster assumes the identity of a homeowner to sell property that they do not own).
- Mortgage issues – When a mortgage includes instructions that impose obligations that cannot be met, this needs to be dealt with. It is the real estate lawyer’s role to clarify any ambiguity.
- Tax Information – It is the real estate lawyer’s responsibility to obtain a property transfer tax information that fulfills all necessary requirements. This includes the beneficiaries of trusts and corporate interest holders, and identifying factors such as SIN, ITN or BN. It is imperative that nothing is missed, and everything is collected before transactions close.
- Scams – In real estate, scams such as a recent “Phony DocuSign” can have a devastating impact on the parties involved. As experienced real estate lawyers, we are aware of some of the most recent scams that can affect our clients.
We are trained to ensure that all operational aspects of conveyancing are properly set up. For example, we ensure that holds on trust cheques, certified cheques and bank drafts are not in place, so that the transaction can take place on time.
At the end of the day, you want to hire a real estate lawyer for conveyancing purposes not only to ensure that the transaction goes smoothly but also as a buffer against potential risks.
At Morris Law, we’ve performed thousands of real estate transactions. Our experience and knowledge of the entire breadth of conveyancing allow us to ensure that homeowners such as yourself can rest easy, knowing that your legal needs are taken care of.
Have any questions? Contact one of our real estate lawyers for more information today!