NON-STANDARD PROVISIONS Section 9 of the Representation Agreement Act for information
October 13, 2011
NON-Standard Provisions
Section 9 of the Representation Agreement Act for information
(1) In a representation agreement made under this section, an adult may, subject to subsections (2) and (3), authorize his or her representative to
a) Do anything that the representative considers necessary in relation to the personal care or health care of the adult, or
b) Do one or more things, including any of the following:
i. Decide where the adult is to live and with whom, including whether the adult should live in a care facility;
ii. Decide whether the adult should work and, if so, the type of work, the employer, and any related matters;
iii. Decide whether the adult should participate in any educational, social, vocational or other activity;
iv. decide whether the adult should have contact or associate with another person;
v. decide whether the adult should apply for any licence, permit, approval or other authorization required by law for the performance of an activity;
vi. make day-to-day decisions on behalf of the adult, including decisions about the diet or dress of the adult;
vii. give or refuse consent to health care for the adult, including giving or refusing consent, in the circumstances specified in the agreement, to specified kinds of health care, even though the adult refuses to give consent at the time the health care is provided;
viii. despite any objection of the adult, physically restrain, move and manage the adult and authorize another person to do these things, if necessary to provide personal care or health care to the adult.
(2) Unless expressly provided for in a representation agreement made under this section, a representative must not
a) Give or refuse consent on the adult`s behalf to any type of health care prescribed under section 34(2)(f) of the Health Care (Consent) and Care Facility (Admission) Act,
b) Make arrangements for the temporary care and education of the adult`s minor children, or any other persons who are cared for or supported by the adult, or
c) Interfere with the adult`s religious practices.
(3) In a representation agreement made under this section, if a representative is provided the power to give or refuse consent to health care for the adult, the representative may give or refuse consent to health care necessary to preserve life.
Section 7 of the Representation Agreement Act (British Columbia) – Standard Provisions
October 13, 2011
Section 7 of the Representation Agreement Act
for information
(1) In a representation Agreement made under this section, an Adult may authorize his or her Representative to help the Adult make decisions on behalf of the Adult, about any or all of the following:
(a) the Adult’s personal care, .and
(b) routine management of the Adult’s financial affairs, including, subject to the regulations,
(i) payment of bills
(ii) receipt and deposit of pension and other income,
(iii) purchases of food, accommodation and other services necessary for personal care, and
(iv) the making of investments;
(c) major health care and minor health care, as defined in the Health Care (Consent) and Care Facility (Admission) Act, but not including the kinds of health care prescribed under section 34 (2) (f) of that Act;
(d) obtaining legal services for the Adult and instructing counsel to commence proceedings, except divorce proceedings, or to continue, compromise, defend or settle any legal proceedings on the Adult’s behalf.
(2) An Adult may authorize a Representative under subsection (1) (a) to accept a facility care proposal under the Health Care (Consent) and Care Facility (Admission) Act for the Adult’s admission to a care facility, but only if the facility is
(a) a family care home,
(b) a group home for the mentally handicapped, or
(c) a mental health boarding home.
(2.1) A Representative may not be authorized under this section
(a) to help make, or to make on the Adult’s behalf, a decision to refuse health care necessary to preserve life, or
(b) despite the objection of the Adult, to physically restrain, move or manage the Adult, or authorize another person to do these things.
Section 2 of the Representation Agreement Regulation, B.C. Reg. 199/2001, is repealed and the following substituted:
2. (1) For the purposes of section 7(1)(b) of the Act, the following activities constitute “routine management of the Adult’s financial affairs”:
(a) Paying the adult’s bills
(b) Receiving the adult’s pension, income and other money;
(c) Depositing the adult’s pension, income and other money in the adult’s accounts;
(d) Opening accounts in the adult’s name at financial institutions;
(e) Withdrawing money from, transferring money between or closing the adult’s accounts;
(f) Receiving and confirming statements of account, passbooks or notices from a financial institution for the purpose of reconciling the adult’s accounts;
(g) Signing, endorsing, stopping payment on, negotiating, cashing or otherwise deal with the cheques, bank drafts and other negotiable instruments on the adult’s behalf;
(h) Renewing or refinancing, on the adult’s behalf, with the same or another lender, a loan, including a mortgage, if
(i) the principal does not exceed the amount outstanding on the loan at the time of the renewal or refinancing, and
(ii) in the case of a mortgage, no new registration is made in the land title office respecting the renewal or refinancing;
(i) Making payment on the adult’s behalf on a loan, including a mortgage, that
(i) Exists at the time the representation agreement comes into effect, or
(ii) Is a renewal or refinancing under paragraph (h) of a loan referred to in that paragraph;
(j) Taking steps under the Land Tax Deferral Act for deferral of property taxes on the adult’s home;
(k) Taking steps to obtain benefits or entitlements for the adult, including financial benefits or entitlements
(l) Purchasing, renewing and cancelling household, motor vehicle or other insurance on the adult’s behalf, other than purchasing a new life insurance policy on the adult’s life;
(m) Purchasing goods and services for the adult that are consistent with the adult’s means and lifestyle
(n) Obtaining accommodation for the adult other than by the purchase of real property
(o) Selling any of the adult’s personal and household effects, including a motor vehicle
(p) Establishing an RRSP for the adult
(q) Making contributions to the adults RRSP and RPP;
(r) Converting the adult’s RRSP to a RRIF or annuity and creating a beneficiary designation in respect of the RRSP or annuity that is consistent with the beneficiary designation made by the adult in respect of the RRSP
(s) Making, in the manner provided in the Trustee Act, any investments that a trustee is authorized to make under that Act;
(t) Disposing of the adult’s investments;
(u) Exercising any voting rights, share options or other rights or options relating to share held by the adult;
(v) Making donations on the adult’s behalf to registered charities, but only if
(i) this is consistent with the adult’s financial means at the time of the donation and with the adult’s past practices, and
(ii) the total amount donated in any year does not exceed 3% of the adult’s taxable income for that year;
(w) In relation to income tax,
(i) completing and submitting the adult’s returns,
(ii) dealing, on the adult’s behalf, with assessments, reassessments, additional assessments and all related matters, and
(iii) subject to the Income Tax Act and the Income Tax Act (Canada), signing on the adult’s behalf, all documents, including consents, concerning anything referred to in subparagraphs (i) and (ii)
(x) Safekeeping the adult’s documents and property;
(y) Leasing a safety deposit box for the adult, entering the adult’s safety deposit box, removing its contents and surrendering the box;
(z) Redirecting the adult’s mail:
(aa) Doing anything that is
(i) Consequential or incidental to performing an activity described in paragraphs (a) to (aa) and
(ii) Necessary or advisable to protect the interests and enforce the rights of the adult in relation to any matter arising out of the performance of that activity.
(2) For greater certainty, the activities that under subsection (1) constitute “routine management of the adult’s financial affairs” do not include any of the following:
(a) Using or renewing the adult’s credit card or line of credit or obtaining a credit card or line of credit for the adult;
(b) Subject to subsection (1) (h), instituting on the adult’s behalf new loan, including a mortgage;
(c) Purchasing or disposing of real property on the adult’s behalf;
(d) On the adult’s behalf, guaranteeing a loan, posting security or indemnifying a third party;
(e) Landing the adult’s personal property or, subject to subsection (1) (v), disposing of it by gift;
(f) On the adult’s behalf, revoking or amending a beneficiary designation or, subject to subsection (1) (r), creating a new beneficiary designation
(g) Acting, on the adult’s behalf, as director or officer of a company
Section 3 of the Representation Agreement Regulation, B.C. Reg. 199/2001, is repealed and the following substituted:
3. Financial Records of the representatives
(1) This section applies to a representative appointed under a representation agreement made under section 7 of the Act who has authority over an adult’s financial affairs.
(2) A representative must make a reasonable effort to determine the adult’s property and liabilities as of the date on which the representative first exercises authority on the adult’s behalf, and maintain a list of that property and those liabilities.
(3) a representative must keep the following records in relation to the period for which the representative is acting:
(a) a current list of the adult’s property and liabilities, including an estimate of their value if it is reasonable to do so;
(b) accounts and other records respecting the exercise of the representative’s authority under the representation agreement;
(c) all invoices, bank statements and other records necessary to create full accounts respecting the receipt or disbursement, on behalf of the adult, of capital or income.
2 the following section is added:
3.1 Care records of representatives
(1) This section applies to a representative who has authority over an adult’s personal care or health care, as applicable.
(2) Subject to subsection (3), a representative must keep the following records in relation to the period for which the representative is acting:
(a) except as set out in the representation agreement, a copy of any record made by the adult of the adult’s instructions, wishes, beliefs and values within the meaning of Section 16 of the Act;
(b) if, since the date the representation agreement was made, the adult’s residence changes or there is a material change in the needs of the adult with respect to personal care or health care, information respecting the nature of the change and the decision made by the representative in respect of it;
(c) if the representative made on behalf of the adult a decision respecting
(i) major health care within the meaning of the Health Care (consent) and Care Facility (Admission) Act, or
(ii) the admission of the adult to, or the adult’s continued residence in, a care facility within the meaning of the Health Care (consent) and Care Facility (Admission) Act, a description of the decision made and the date on which it was made;
(d) if the representative restricts a person from contacting or associating with the adult, information respecting the nature of the restriction and the decision made by the representative in respect of it;
(e) if the adult was physically restrained, moved or managed, under authority granted under the representation agreement and section 9 (1) (b) (viii) of the Act or another enactment, a description of who physically restrained, moved or managed the adult and why.
British Columbia Power of Attorney Act (Excerpts), 2011, Parts 2: Duties, Powers, Authority of Attorney (Sections 19, 20, 21, 29, & 30)
October 13, 2011
Power of Attorney Act, 2011, Parts 2
(British Columbia)
Duties of attorney
19 (1) An attorney must
(a) act honestly and in good faith,
(b) exercise the care, diligence and skill of a reasonably prudent person,
(c) act within the authority given in the enduring power of attorney and under any enactment, and
(d) keep prescribed records and produce the prescribed records for inspection and copying at the request of the adult.
(2) When managing and making decisions about the adult’s financial affairs, an attorney must act in the adult’s best interests, taking into account the adult’s current wishes, known beliefs and values, and any directions to the attorney set out in the enduring power of attorney.
(3) An attorney must do all of the following:
(a) to the extent reasonable, give priority when managing the adult’s financial affairs to meeting the personal care and health care needs of the adult;
(b) unless the enduring power of attorney states otherwise, invest the adult’s property only in accordance with the Trustee Act;
(c) to the extent reasonable, foster the independence of the adult and encourage the adult’s involvement in any decision-making that affects the adult;
(d) not dispose of property that the attorney knows is subject to a specific testamentary gift in the adult’s will, except if the disposition is necessary to comply with the attorney’s duties;
(e) to the extent reasonable, keep the adult’s personal effects at the disposal of the adult.
(4) An attorney must keep the adult’s property separate from his or her own property.
(5) Unless the enduring power of attorney states otherwise, subsection (4) does not apply to property that
(a) is jointly owned by the adult and the attorney as joint tenants or otherwise, or
(b) has been substituted for, or derived from, property described in paragraph (a).
Attorney’s powers
20 (1) An attorney may make a gift or loan, or charitable gift, from the adult’s property if the enduring power of attorney permits the attorney to do so or if
(a) the adult will have sufficient property remaining to meet the personal care and health care needs of the adult and the adult’s dependants, and to satisfy the adult’s other legal obligations, if any,
(b) the adult, when capable, made gifts or loans, or charitable gifts, of that nature, and
(c) the total value of all gifts, loans and charitable gifts in a year is equal to or less than a prescribed value.
(2) An attorney may receive a gift or loan under subsection (1) if the enduring power of attorney permits.
(3) Permissions under subsections (1) and (2)
(a) must be express, and
(b) may be in relation to a specific gift or loan, or charitable gift, or to gifts or loans, or charitable gifts, generally.
(4) An attorney may retain the services of a qualified person to assist the attorney in doing anything the adult has authorized the attorney to do.
Attorney must not make a will for adult
21 An attorney must not make or change a will for the adult for whom the attorney is acting, and any will or change that is made for an adult by his or her attorney has no force or effect.
When authority of attorney is suspended or ends
29 (1) The authority of an attorney is suspended in any circumstances set out in an enduring power of attorney, for as long as those circumstances continue.
(2) The authority of an attorney ends
(a) if the enduring power of attorney is terminated,
(b) if the provisions of the enduring power of attorney that give authority to the attorney are revoked,
(c) if the attorney resigns in accordance with section 25, or
(d) if the attorney
(i) is the adult’s spouse and their marriage or marriage-like relationship ends,
(ii) becomes incapable or dies,
(iii) is bankrupt,
(iv) is a corporation and the corporation dissolves, winds up or ceases to carry on business, or
(v) is convicted of a prescribed offence or an offence in which the adult was the victim.
(3) Subsection (2) (d) (i) does not apply if the enduring power of attorney states that the authority of the attorney continues regardless of whether the marriage or marriage-like relationship ends.
(4) A marriage ends for the purposes of this section when an agreement, judgment or order referred to in section 56 of the Family Relations Act is first made in respect of the marriage.
(5) A marriage-like relationship ends for the purposes of this section when the parties to the marriage-like relationship stop cohabiting with each other, with the intention of ending the relationship.
(6) If the authority of an attorney ends under subsection (2), any remaining attorneys may continue to act unless the enduring power of attorney states otherwise.
(7) Anything lawfully done by an attorney on behalf of the adult, including making an agreement, remains binding on the adult after the authority of the attorney ends.
When enduring power of attorney is suspended or terminates
30 (1) If an adult becomes incapable after making an enduring power of attorney, any authority given to an attorney under the enduring power of attorney continues.
(2) An adult may set out in an enduring power of attorney any circumstances in which the enduring power of attorney is suspended, and, if those circumstances exist, the enduring power of attorney is suspended for as long as those circumstances continue.
(3) An enduring power of attorney is suspended in accordance with the Adult Guardianship Act if the adult has a statutory property guardian under that Act.
(4) An enduring power of attorney terminates
(a) according to the terms of the enduring power of attorney,
(b) if the adult who made the enduring power of attorney dies,
(c) if the court terminates the enduring power of attorney under section 36 (5),
(d) if the enduring power of attorney is terminated under section 12 or 33 (5) of the Adult Guardianship Act, or
(e) if the enduring power of attorney is revoked.
2011 – Georgia Straight’s Best of Vancouver – Best Lawyer (or Notary) to use when Buying or Selling Real Estate #BOV
September 22, 2011
I was very happy to learn that for the 3rd straight year, we’ve been voted First Place in the Georgia Straight’s Best of Vancouver in the category of “Lawyer (or Notary) to use when Buying or Selling Real Estate”.
Thank you again to everyone who voted! Thank you also to my awesome staff – Natashia and Brandi – for all your hard work and helping us deliver the Best conveyancing in the Vancouver area. Thank you also to all of our referral partners – Realtors, Mortgage Brokers, and Banks who continue to trust us with your clients. Some reasons people have supported us are:
- Core Values – “Excellent Customer Service, Efficiency & Green/Sustainable Practice”: Everything we do in our residential real estate conveying process is based on our core values. If it doesn’t reflect our core values, we don’t do it.
- Experience - since becoming a notary; my firm has grown each year (except 2010); and we are on pace for the biggest year yet:
- 2006 – 26 conveyances
- 2007 – 132 conveyances
- 2008 – 216 conveyances
- 2009 – 396 conveyances
- 2010 – 381 conveyances
- 2011 – 345 files to date; on pace for 460 conveyances.
- We work hard with each file and each file is different. We work with a variety of clients; most of whom are purchasing homes (many are first time home buyers); but also people selling their homes (some of whom are non-resident); refinancing and renewing mortgages and working with estates and family transfers.
- Our biggest source of business is referrals from people who trust us on an ongoing basis. We thank the many Realtors and Mortgage Brokers who send their clients to us.
If you have a client, friend, co-worker, colleague or anyone else you may know who is in the process of buying or selling a home; or refinancing/renewing their mortgage; please give them our contact information and we would be pleased to take care of their transaction.
We want our clients to have an excellent conveyance experience. If there is anything we can do to assist the process or answer any questions; please let me know.
Thank you again for your support.
David Watts, Notary Public
#1602 – 675 West Hastings Street
Vancouver, BC V6B 1N2
Tel: 604 685 7786
Fax: 604 685 7796
Real Estate Transfers – Wills – Notarizations
Winner of Georgia Straight’s Best of Vancouver 2009, 2010 and 2011 in the Category of “ Best Lawyer/Notary Public to use when Buying/Selling Real Estate” Read the rest of this entry »
Home Buyers’ Amount – Line 369
April 13, 2011
Home Buyer’s Amount – Line 369
First Time Home Buyer’s Tax Credit
Did you purchase a home in Canada in 2010? Was it your first time, or at least first time since 2004 that you lived in a property that you owned? If you did, chances are you or your spouse can claim a $5,000 credit on your 2010 Canadian Personal Income taxes. To do so, follow the instructions for Line 369 – Home Buyer Amount.
The HBTC is calculated by multiplying the lowest personal income tax rate for the year (15% in 2009) by $5,000. For 2009 and 2010, the credit will be $750.
If you have already filed your 2010 Personal Income Taxes, you can still claim this credit. In fact, if you bought a home in 2009 as a First Time Home Buyer, and it closed after January 29, 2009; and you didn’t claim in on your 2009 taxes, you can still claim this amount for 2009. If you need to make an adjustment, you can fill out at T1 Adjustment and in the adjustment detail part (Section C), add:
Line Name of Line Previous amount +- Amount of Change Revised amount
369 Home Buyer Amount 0 + 5,000 5,000
You should probably also include some doucmetnation such as a copy of the Contract, Statement of Adjustments, Property Tax Notice for Advance Taxes, State of Title Certificate, or even a utility account invoice addressed to you. Canada Revenue Agency will likely also have noted that you have updated your address.
Make sure to indicate the year for which you are claiming this credit. If you need help with this, an accountant I often refer to is Svetlana Gaidelis, CGA of Gaidelis and Company (http://www.gaideliscga.ca/services.html).
For any questions about First Time Home Buyer issues of any kind; or if you know of someone who is in the process of buying or selling their first home; please contact me or pass along my information. We do over 400 property transfers a year, and many of them are for First Time Home Buyers.
Conveyancing in British Columbia – Step by Step Process for Typical Real Estate Transfer – David Watts Notary Public
March 8, 2011
Vancouver Notary Public; David Watts, has recorded this 11:30 minute video to describe in a step by step way; exactly what the Conveyancing process is for transferring Property in British Columbia. While there are many generalizations; you can see how it works by way of flow chart diagrams and David’s explanation. This considers both the Buyer’s and Seller’s points of view as they relate to the real estate transfer, with a new Mortgage for the Buyer and discharging the existing Mortgage for the Seller. There are several variations as all transactions are unique, but our process to make sure we have covered everything is the same.
If you have any questions about any parts of our Conveyancing process, feel free to phone or email any time. If you are in the process of buying or selling a Property; or your client is in the process of buying or selling; or perhaps refinancing a Mortgage – we would greatly appreciate the opportunity to do this work for you. Feel free to contact the office of David Watts Notary Public (tel: 604 685 7786 or email: david@davidnotary.com ) any time.
Thank you for reading this and watching the video. If you liked it – please tell a friend or colleague; please leave comments; and please feel free to post/share using your preferred methods.
Beginning of the Purchase Process -
When you start the purchase process, you typically find a Realtor to help you find the perfect Property; and a Mortgage Broker or institutional Lender to lend the money to buy the Property. A Mortgage is the legal charge that is registered against the Property to secure the loan from the Lender. Before going to find properties, it is important to work with a Mortgage Broker or institutional Lender to determine how much of a Mortgage you can qualify for and to make sure that all of the Lender’s conditions can or will be met. Once you are satisfied that you have your financing arranged and Mortgage commitment in place; you know what type of budget you have to work with. The Mortgage Broker puts together the deal between the Borrower(Buyer) and Lender.
Realtors act as agents when you buy or sell real estate. In most cases, both the Buyer and Seller will have their own Realtor working for them. In some cases, only one Realtor acts for both parties. The Listing Realtor works for the Seller to market and sell the Property. The Selling Realtor assists the Buyer to evaluate properties, offer their expertise of the local market and buildings in the local market as well as help to negotiate and write up the Contract of Purchase and Sale. The Realtors put together the Contract of Purchase and sale which sets out the details of the transaction including the Property, Price, Dates, Parties involved, as well as any special conditions that may be specific to each transaction.
Once there is a Contract of Purchase and Sale where all subjects have been removed; and there is a Mortgage commitment where all conditions have been met; the Realtor’s office sends conveyance instructions, including the Contract and the Lender sends Mortgage instructions to our office and we begin our review of the documents.
Once we receive these documents; we begin our due diligence process. The first thing we review is the Title to the Property. We confirm that the Contract matches the title in terms of making sure the Seller on the Contract is the Registered Owner of the Property and that the Property’s legal description on title is the same as the Contract. We also look for things such as Mortgages, caveats, judgements, liens and other charges on title that are the responsibility of the Seller to pay out and discharge. When you buy the Property, it should be free of financial encumbrances. We also determine if there are any easements, Statutory Rights of Way or other charges that would limit the way a Property can be used. We want to make sure you know exactly what you are buying. We conduct a tax search to confirm that all taxes are paid up to date. We contact the Strata Management Company – if it’s a Condo – to confirm that all strata fees are up to date and to confirm details of any special assessments or other levies that are outstanding. Any charges that have been incurred by the Seller should be paid by the Seller. We make sure this is what happens. We obtain a Form F – Certificate of Payment and a Form B – Information Certificate. We also confirm that there is insurance in place on the Property, whether it’s the building’s insurance or you may need a new insurance policy (if you are purchasing a house); and we confirm that the Lender is named as first loss payable on the policy. If necessary, we will also order a Survey of the Property or Title Insurance; depending on the Lender’s requirements and client’s instructions. With all of this information – we now have what we need to prepare the transaction documents.
We are preparing two sets of documents – one for the Seller to sign; and one for the Buyer/Borrower to sign.
For the Buyer/Borrower – we have a set of Mortgage documents, which often includes the Mortgage Commitment, Cost of Borrowing Disclosure Statement, various tax and insurance documents, prepared by the Lender; and the Form B – Mortgage as well as other declarations prepared by us and a set of purchase documents including the Property Transfer Tax Return and Buyer’s Statement of Adjustments. We meet to explain and sign all of these documents, as well as review the title and plan of the Property. At this time we confirm our client’s identification. The Buyer typically also brings a bank draft to the signing appointment for the balance required to complete the transaction. We always email draft copies of all of the documents with a brief explanation in advance of our meeting; including the amount for the Bank Draft. During our meeting – we make sure everything is explained and all questions are answered.
For the Seller, we prepare the Form A – Freehold Transfer, Seller’s Statement of Adjustments, HST Certificate, Residency Declaration, Parking Stall/Storage Locker Assignment (if a condo) and Site Survey Declaration (if a survey is available). We send these documents to the Seller’s notary who reviews them, explains everything and signs with their client – the Seller. The Seller’s notary will also have ordered a payout statement for the Mortgage(s) on title and have prepared an Order to Pay to determine how much the Seller will get and how the proceeds will be distributed. They also confirm their client’s identification.
Once everything is signed with the Seller, the Seller’s notary returns the executed documents to the Buyer’s notary on the undertaking not to use the signed documents until we are ready to complete and payout the transaction. An undertaking is an irrevocable promise made by one notary or lawyer to another for which we are personally liable. Undertakings are also used to promise to make certain payouts and provide reporting as applicable.
Once the documents are all signed by both Buyer and Seller, we can order funds from the Lender, deposit the balance of funds from the Buyer; and confirm we have the excess deposit from the Realtor’s office – we should be ready for completion.
We review the signed Seller’s documents by checking to make sure that everything is signed and correctly witnessed. Often documents are signed outside of Canada so we ensure that they will be acceptable to the Land Title Office. We confirm the results of our Strata information requests. We make sure that we have our Form F – Certificate of Payment as well as our Form B – Information Certificate. We confirm that the Seller (by signing the Seller’s Statement of Adjustments) has agreed to pay any outstanding strata fees, penalties, charges and/or liens. We confirm that we have our insurance binder which names our Lender as loss payable on the building insurance as it pertains to this unit (or on the house insurance). We confirm Property taxes are paid up to date, or that we have an undertaking from the Seller’s notary to pay them from the sale proceeds. We confirm that our Mortgage has funded, or that there are no outstanding conditions to be met prior to funding. Some Lenders will only fund the Mortgage once we have registered it.
Once we check everything – we are ready to file our Form A – Application to Transfer ownership of the Property, Form F – Certificate of Payment (assuming it’s a Condo – Strata Property), Property Transfer Tax Return, and our Form B – Mortgage (assuming money is borrowed to finance the purchase).
We start with a Pre-registration title search. We confirm that there have been no new charges registered against the Property by comparing it to the search we did when we opened the file. If everything looks good – we then proceed to Efile our document package. This is done by me (the notary) digitally signing the documents in a secure way; and then uploading directly to the Land Title Office computers. This takes a few seconds. We then get confirmation “Document File” numbers that our application has been received and we are able to save copies of the registered documents. We must wait 1 hour to confirm that there have been no other applications registered in the Land Title Office against the Property. We do our Post-registration search to confirm this. Once we have a successful Post – we are ready to report on the transaction and pay proceeds.
We call the Seller’s notary to let them know that sale proceeds are available for pick up. We deliver the funds on the undertaking that they will be used to pay any existing Mortgages, outstanding taxes or other Seller accounts. If the Seller is a Non-Resident of Canada – there is an additional process of withholding partial sale proceeds pending receipt of a Canada Revenue Agency – Certificate of Compliance Related to the Disposition of Canadian Real Property by a Non-Resident of Canada. We also send faxes to the listing and selling real estate offices to let them know the transaction has completed. We mail any balance of real estate commissions unless the Realtor’s have advised that they would like to pick up their commission. After receipt of this confirmation – the Realtor’s will go about exchanging keys for the Property and the Buyer will then be able to take possession of the Property. Most times – the possession date is the day after completion.
Next we are able to give our final reporting to the Buyer and to the Lender. We give our legal opinion to the Buyer and Lender; that the title to the Property has now transferred and the Buyer is now the Registered Owner; and to the Lender that their loan is secured by a charge registered against the title of the Property in first priority. We send copies of all of the registered documents as well as the copies with signatures to both Buyer and Lender. We scan and keep an electronic copy for our file.
Post Completion
When the Seller’s notary receives the sale proceeds – they pay the existing Mortgage(s), any outstanding Property taxes, Builder’s Liens, and anything else that they have given their undertakings to pay or do. They provide the Buyer’s notary with proof and confirmation that they have done so by sending confirmation of the Lender’s receipt of the existing mortgage payout. The Seller’s notary then is able to deliver the balance of funds to the Seller. This usually happens the day after completion; as by the time funds are delivered by the courier and deposited to the bank, and cheques are prepared and signed – it is usually the next day.
When the Seller’s notary delivers the Mortgage payout to the existing Lender, they also enclose a Form C – Discharge of Mortgage for the Lender to sign and send back to the Seller’s notary. The Lender must do this within 30 days. The Seller’s notary will then register the Discharge of Mortgage and provide a copy of the registered Discharge to the Buyer’s notary. The Buyer’s notary will then be able to order a State of Title Certificate – which is a document very similar to a title search; but it is signed by the Registrar of the Land Title Office as their guarantee that at the time it was printed; that the Property is owned by the Registered Owner shown on title (the Buyer) and that this ownership is subject to the new Mortgage which is now shown to be registered in first position. Upon receipt of the State of Title Certificate – we scan a copy for file; delivery a copy to the Buyer (now registered owner) and send the original to the Lender.
This is the final step in the conveyance process. We would now scan any remaining notes and documents; destroy all paper copies; and close our file.
If you have any questions about any parts of our Conveyancing process, feel free to phone or email any time. If you are in the process of buying or selling a Property; or your client is the process of buying or selling; or perhaps refinancing a Mortgage – we would greatly appreciate the opportunity to do this work for you. Feel free to contact me any time.
Thank you for reading this and watching the video. If you liked it – please tell a friend or colleague; please leave comments; and please feel free to post/share using your preferred methods.
Best regards,
David Watts,
Notary Public
Phone: 604 685 7786
Email: david@davidnotary.com
Web: www.davidnotary.com
Claim Your Home Owners’ Grant Before Year End
December 1, 2010
As we approach the end of the year one of the things you may not be thinking about is claiming your Home Owners’ Grant. The Home Owner’s Grant is a base amount of $570.00 off your property taxes if the property is your primary resident; this amount is different if you are a senior citizen. What is important to remember is that if you’re a First Time Home Buyer and your lender pays your property taxes on your behalf, this process needs to be done by you. You may have already claimed your Grant when you received your tax notice, but if not, then claiming your Home Owners’ Grant can be done in few different ways:
- Electronically on the city’s website
Vancouver http://vancouver.ca/fs/treasury/ehog.htm
Burnaby http://applications.burnaby.ca/whog/
Surrey http://www.surrey.ca/city-services/587.aspx
North Vancouver http://www.cnv.org/VCH2/modules/hog/hog_login.asp
Richmond http://www.richmond.ca/cityhall/finance/homegrant.htm
Delta http://www.corp.delta.bc.ca/EN/main/residents/816/hog.html
Coquitlam https://e-civic.coquitlam.ca/tempestprod/ecom/hog/login.cfm
Port Coquitlam http://www.portcoquitlam.ca/Citizen_Services/Online_Services_and_Payments/Electronic_Home_Owner_Grants.htm
Port Moody https://e-civic.cityofportmoody.com/tempestlive/ecom/hog/login.cfm
Mission http://www.muniadmin.com/?UName=MissionBC
Pitt Meadows http://www.pittmeadows.bc.ca/EN/main/onlineservices/10388.html
2. Signing the application sheet connected to the Property Tax form that was sent with your tax balance to your residents and mailing it back.
3. Print a Home Owners’ Grant Claim for off the city’s website fill it out completely and mail it the city.
http://www.sbr.gov.bc.ca/individuals/Property_Taxes/Home_Owner_Grant/forms.htm
The Home Owners’ Grant needs to be claimed and received on or before December 31 of the current tax year. If you have any question in regards about claiming your Home Owners’ Grant, especially if you are a first time home buyer or if your property taxes are paid by your lender please call or email: david@davidnotary.com
David Watts
Sound Legal Advice with a Tradition of Trust
How to Prepare a Will with David Watts, Notary Public
October 18, 2010
David Watts, Notary Public discusses his process for preparing Wills.
To have a Will prepared by David Watts; the first step is to call our office at 604-685-7786 or email david@davidnotary.com to receive a quote with an attached Will’s worksheet by email. The quote also has a video which explains the process. Once you have filled out the worksheet, we ask that you contact our office to set up an appointment to review the worksheet with David and to go over additional questions and/or estate planning documents, such as: Power of Attorney, Representation Agreement, or Living Will; which you may want to prepare along with your Will. At the end of your appointment, we will set a second appointment to return to our office to sign your fully prepared will. Before your return to our office to sign your prepared Will, David will email a draft copy of your documents for your review before signing. After everything has been reviewed and signed, we will register a Will’s Notice which indicates the date the Will was signed and the location in which the original Will is kept. You will receive a copy of this notice by email once it has been received in our office. If you have any questions about Wills please call or email: david@davidnotary.com.
Sound Legal Advice with a Tradition of Trust.
Property Transfer Tax – First Time Home Buyer Exemption
September 28, 2010
When you are purchasing property in British Columbia there is an exemption for property transfer tax for first time home buyers’. In order to claim this exemption there are five qualifications that need to be met.
1. The individual(s) that claim the exemption must be BC permanent resident(s) for a full year before completion, or have filed tax returns showing BC Residency in 2 of the last 6 years; and
2. The buyers must by Canadian citizen(s) or permanent residents, ;
3. The property must be occupied by the individual(s) as their Principle Residence that claim this exemption for a full year after completion.
4. The property must be purchased for less than $425,000.00 for a full exemption and less than $450,000 for a partial exemption; and
5. It must be the first property purchased by the individual(s) as their principal residence.
This exemption can be claimed if the individual(s) obtain Canadian citizenship or permanent residency within a year after completion of the purchase; as long as they make that claim within 18 months.
If you have any questions about British Columbia First Time Home Buyers Exemption on Property Transfer Tax; or if you are buying or selling a property please call or email: david@davidnotary.com.
Sound Legal Advice with a Tradition of Trust.
