Document background
The Memorandum of Contract (Real Estate) is a crucial document in Canadian real estate transactions, used when parties wish to register notice of their agreement on title while keeping certain terms confidential. This document type is particularly relevant when there is a gap between the agreement signing and the closing date, providing protection for the purchaser's interest during this interim period. It must comply with provincial land registry requirements and typically includes essential transaction details while omitting commercially sensitive information. The memorandum serves as constructive notice to third parties and helps prevent competing claims to the property. Used across all Canadian provinces, though specific requirements may vary by jurisdiction, this document bridges the gap between private contractual agreements and public land registration systems.
