PROPERTY TITLE TRANSFERS
A change in ownership.
A considered next step.
Adding a name to title or removing an owner changes legal rights. We help you understand the transfer, the mortgage requirements and the issues to resolve before you sign.
Get a title transfer quoteTHE WORK BEHIND YOUR TRANSACTION
More than a name on a document.
The right approach depends on who owns the property, who will own it after the transfer and why the change is being made. Start with the full picture so the documents reflect the intended transaction.
Can I add or remove a name on property title?
A title transfer changes legal ownership. Existing mortgage requirements, tax implications and the parties’ circumstances need to be considered before documents are signed. Rindi Law reviews the proposed Ontario transfer and confirms the work and costs.
Understand the proposed change
Tell us the current and proposed owners, whether any money will change hands and whether there is a mortgage. A transfer between family members, a transfer following separation and an estate related change can involve different issues.
Address the mortgage before transferring title
A lender may need to consent to the change or require new financing. Do not assume that changing registered ownership also releases an existing borrower from mortgage obligations.
Refinancing alongside a transferConsider the tax consequences
Land transfer tax, income tax and other consequences depend on the transaction. A transfer for no cash payment is not automatically tax free. We identify matters relevant to our work and advise when separate tax or other professional advice is needed.
When an owner has died
The next step depends on how title was held and the circumstances. We can discuss a survivorship application or identify the documents needed to determine the appropriate process.
A LITTLE CLARITY
Before you
get started.
Can I add my spouse to title?
That may be possible, but the mortgage, ownership arrangement and tax issues need to be considered. Contact us before arranging the transfer.
Does removing my name from title remove my mortgage liability?
Not necessarily. Liability under the mortgage and registered ownership are separate issues. The lender’s requirements need to be addressed.
What does a title transfer cost?
We quote after reviewing the proposed change and financing. Contact us with the details so the scope and anticipated costs can be identified.
YOUR NEXT STEP
Tell us what you want to change.
We will explain the legal next steps and provide a quote based on the transfer you are planning.