The Deed of Sale 3rd Owner is a crucial legal instrument in Canadian real estate transactions where property has previously changed hands multiple times. This document is specifically used when the current seller is at least the third owner of the property, requiring additional due diligence and documentation of the ownership chain. It must comply with various federal laws such as the Land Title Act and provincial property legislation, while also addressing specific requirements for property transfer tax, foreign ownership considerations, and local registry office requirements. The deed includes comprehensive property descriptions, detailed ownership history, current transaction terms, and necessary warranties. It's particularly important for ensuring clear title and protecting all parties' interests in complex property transfers where multiple previous owners are involved.
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1. Parties: Identification of all parties involved: current owner (seller), previous owners, and purchaser, including full legal names and addresses
2. Background: Brief history of property ownership, including dates of previous transfers and current ownership status
3. Definitions: Key terms used throughout the deed, including property description, closing date, and other relevant terminology
4. Property Description: Detailed legal description of the property, including lot number, plan number, and municipal address
5. Consideration: Purchase price and payment terms, including deposit and balance due at closing
6. Title and Ownership: Declaration of clear title and right to sell, including history of ownership
7. Representations and Warranties: Seller's declarations regarding property condition, encumbrances, and legal status
8. Closing Conditions: Requirements to be met before completion of the sale
9. Execution: Formal signing section with witness requirements and date
10. Legal Compliance: Statements ensuring compliance with relevant provincial and federal laws
1. Environmental Warranties: Additional warranties regarding environmental conditions, used when property is in an environmentally sensitive area or has industrial history
2. Heritage Status: Special conditions related to heritage designation, if applicable
3. Tenant Rights: Details of existing tenancies and their status, if property is currently tenanted
4. Indigenous Land Claims: Acknowledgment of any Indigenous land claims or rights, if applicable to the property
5. Mineral Rights: Special provisions regarding mineral rights if these were separated in previous transfers
6. Foreign Ownership Declaration: Additional section required if purchaser is a non-resident of Canada
1. Schedule A - Property Details: Comprehensive legal description of property including surveys and plans
2. Schedule B - Title Search: Detailed history of property ownership and transfers
3. Schedule C - Permitted Encumbrances: List of approved liens, easements, or other encumbrances that will continue after sale
4. Schedule D - Property Condition Report: Current condition of property and any known defects
5. Schedule E - Title Insurance Details: Information about title insurance coverage and provider
6. Appendix 1 - Previous Deeds: Copies of previous transfer documents
7. Appendix 2 - Property Tax Certificates: Current tax status and payment history
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