Move Currency Deed For Free

Transferring title, such as after the purchase of a new home or death of a spouse, often requires the expertise of a legal professional. A legal professional can investigate the current status of the title in the land title register to determine the required land title documentation.

In Canada, it isn't advisable to transfer ownership of real estate to family members for anything other than the fair market value. However, an alternative would be to give the person cash they can then use to purchase the property at the fair market value.

In Ontario, title transfers are completed by lawyers ? a process that takes on average 5 to 10 business days. Once the lender approves the transfer, you can then engage a lawyer. At Khan Law, our lawyers will begin by conducting a title search to validate title ownership.

Legal fees for transferring property ownership Title Transfer lawyer fees $630 + HST with no mortgage and our Real Estate Lawyer fees for a title transfer with a mortgage is $999 + Tax. Please remember, if we do not have work on mortgage documentation, then Property title transfer in Ontario costs $630 + HST.

You can gift title to a property to adult children or next-of-kin without consideration (money). You pay capital gains tax based on the property's fair market value. For principal residences, the family member you gift it to owes capital gains on the property's appreciation when they sell.

All you need to do is hire a real estate lawyer who will prepare all documents for the land registry and register the transfer as per the laws of Ontario.

The most common way to transfer property is through a general warranty deed (sometimes called a "grant deed"). A general warranty deed guarantees good title from the beginning of time.