Latest News2019-07-08T16:26:37+00:00

What Is the Difference Between an Encumbrance and a Lien?

The terms Encumbrance and Lien are often used interchangeably, but they are not the same thing. In simple terms, a Lien is a type of Encumbrance. So, all Liens are Encumbrances, but not all Encumbrances are Liens. ENCUMBRANCE An Encumbrance is a broad term that means a claim against someone’s property. It’s a term often used in real estate, but Encumbrances can be against other types of personal property like cars or boats. The Encumbrance can be financial, such as money owed, like a mortgage, or it can also be non-financial, such as an easement or right-of-way. LIEN Lien is a narrower term that refers to a special type of Encumbrance. For example, with regards to property, we often hear of a tax Lien. A [...]

By |March 23rd, 2020|0 Comments

What Is the Difference Between Estate Planning and a Will?

In broad strokes, estate planning is making plans for the transfer of your estate after death, part of which often involves writing a Will. A Will is the legal document that takes effect upon your death and it describes how you wish those assets flowing through your Will are to be distributed, and it appoints an executor to manage this process. Not all assets may flow through your Will. Estate planning covers assets that flow through your Will and those assets that are distributed outside of your Will. WHAT GOES INTO ESTATE PLANNING? 1. Taxes One of the most important parts of estate planning is determining what, if anything, you can do to reduce the taxes that will be due on your estate. With some [...]

By |February 27th, 2020|Tags: , , , |0 Comments

Why Do I Need a Notary Public for Conveyancing?

In BC you need a Notary if you are doing a real estate transaction, buying or selling property, getting a mortgage or secured line of credit, and/or making changes to the ownership and title of a property. The Notary will do the required legal work on your behalf. This is called Conveyancing. Conveyancing is legally transferring property and the title to a property (and/or mortgages and/or liens) from one property owner to another property owner. In order to do the conveyancing, you will need some legal assistance and Notaries are specially trained and experienced at handling these transactions for you whether your are the Buyer, Seller, Borrower or Lender. The idea behind conveyancing is simple, but the actual practice of it is complex. Here are [...]

What Is a Representation Agreement and Why Would I Need One?

In British Columbia, a Representation Agreement (“RA”) is a legal document that allows you to appoint someone or several persons to make certain health and personal care decisions for you in the event that you are unable to do so. Different Canadian provinces handle this differently, so we’re talking only about how it works in British Columbia. The RA relates to health and personal care but, technically, there are two types of RAs: a Section 7 agreement and a Section 9 agreement. The main difference between the Section 7 RA and the Section 9 RA has to do with the capability requirements. A Section 9 RA is for someone whose is capable of understanding the nature and consequence of entering into a Section 9 RA, [...]

By |December 17th, 2019|Tags: , , |0 Comments

What is Real Estate Conveyancing?

What does real estate conveyancing mean? In law, or at least in law that is derived from English Common Law—like in the US and Canada (except for Quebec)—conveyancing is a term that means two things: it can mean the process of transferring the legal title of real property or it can mean adding some kind of encumbrance (like a mortgage) to a property title. For practical purposes, and the purposes of this article, we’ll assume it means transferring a property’s title from one owner to another owner, typically through the sale of the property. The principle behind real estate conveyancing is simple. One person or group has title to some property, and that title is then transferred to some other person or group of individuals. [...]

By |October 15th, 2019|0 Comments

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