The Apartment Sale Deed is a crucial legal document used in Canadian real estate transactions for transferring apartment ownership from one party to another. This document is essential when selling or purchasing an apartment unit, condominium, or strata property in any Canadian province. It must comply with provincial property laws, strata legislation, and federal regulations regarding real estate transactions. The deed includes comprehensive details about the property, parties involved, financial terms, and legal obligations. An Apartment Sale Deed becomes necessary when there's a transfer of apartment ownership, whether in new developments or resale transactions, and must be properly registered with the provincial Land Title Office. The document serves as official evidence of the property transfer and outlines all terms and conditions of the sale, including any specific requirements related to strata properties, existing tenancies, or special conditions of the transfer.
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1. Parties: Detailed identification of the Vendor and Purchaser, including legal names, addresses, and registration details if corporate entities
2. Background: Context of the sale, including brief property history and purpose of the agreement
3. Definitions: Definitions of key terms used throughout the deed
4. Property Description: Detailed legal description of the apartment, including unit number, building details, and registered plan numbers
5. Purchase Price: Statement of the purchase price and payment terms, including deposit details
6. Title and Ownership: Warranties regarding clear title and ownership rights being transferred
7. Closing and Completion: Details of the closing process, including date, time, and location
8. Representations and Warranties: Standard warranties from both parties regarding authority to sell/buy and condition of property
9. Property Condition: Description of the current state of the property and any known defects
10. Adjustments: Details of tax, utility, and other adjustments between parties
11. Risk and Insurance: Transfer of risk and insurance responsibilities
12. Default and Remedies: Consequences of default by either party and available remedies
13. Notices: Process for giving formal notices under the agreement
14. Governing Law: Specification of applicable Canadian provincial law
15. Execution: Signature blocks and execution requirements
1. Tenant Rights and Obligations: Required if the property is currently tenanted, detailing existing lease agreements and tenant rights
2. Mortgage Assumptions: Include if purchaser is assuming any existing mortgage
3. Property Management Agreements: Required if there are ongoing property management contracts being transferred
4. Special Conditions: Include if there are any unique requirements or conditions of the sale
5. GST/HST Certificate: Required for new properties or commercial properties subject to GST/HST
6. Foreign Buyer Provisions: Required if the purchaser is a non-resident of Canada
7. Parking and Storage: Include if separate parking spots or storage units are included in the sale
8. Renovation Agreements: Required if there are ongoing or planned renovation works
1. Schedule A - Property Details: Detailed legal description of the property and included fixtures/fittings
2. Schedule B - Purchase Price Breakdown: Detailed breakdown of purchase price, deposits, and payment schedule
3. Schedule C - Permitted Encumbrances: List of permitted liens, encumbrances, and easements
4. Schedule D - Current Tenant Details: Details of any existing tenancies and lease agreements
5. Schedule E - Property Condition Report: Detailed report on the current condition of the property
6. Schedule F - Strata Documents: Copies of relevant strata/condominium documents and bylaws
7. Schedule G - Property Tax Assessment: Current property tax assessment and payment status
8. Appendix 1 - Floor Plans: Official floor plans and measurement details
9. Appendix 2 - Property Photographs: Current dated photographs of the property condition
10. Appendix 3 - Building Inspection Report: Professional inspection report if conducted
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