The Deed of Absolute Sale Lot is a crucial legal instrument in Canadian real estate transactions, used when transferring complete and unrestricted ownership of a land parcel. This document is essential in both residential and commercial contexts, particularly when dealing with vacant land, development properties, or subdivided lots. It must comply with provincial property laws, land registration requirements, and federal regulations, including environmental and tax considerations. The deed includes comprehensive details about the property, parties involved, consideration, and various warranties and representations. It's particularly important in situations where clear title transfer and proper documentation of ownership rights are critical, such as in development projects or investment transactions.
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1. Parties: Identification of the Vendor (Seller) and Purchaser (Buyer) with complete legal names and addresses
2. Background: Brief context of the transaction and confirmation of the Vendor's right to sell the property
3. Definitions: Key terms used throughout the deed defined for clarity and legal certainty
4. Property Description: Detailed legal description of the lot including lot number, plan number, and municipal address
5. Consideration: Purchase price and payment terms, including acknowledgment of receipt of payment
6. Transfer of Title: Clear statement transferring absolute ownership from Vendor to Purchaser
7. Vendor's Representations and Warranties: Seller's declarations regarding property ownership, absence of encumbrances, and authority to sell
8. Property Condition: Statement regarding the condition of the property and any 'as-is' provisions
9. Possession and Closing: Date of transfer of possession and closing procedures
10. Registration: Provisions for registration of the deed in the appropriate land registry office
11. Execution: Formal signing section with witness requirements and notarization provisions
1. Environmental Matters: Used when there are environmental assessments, concerns, or warranties to be addressed
2. Existing Tenancies: Required if there are current tenants or lease agreements affecting the property
3. Development Restrictions: Included when there are specific zoning, building, or development restrictions on the lot
4. Survivorship: Used when multiple purchasers are involved to specify joint tenancy or tenancy in common
5. GST/HST Certificate: Required for commercial properties or when GST/HST applies to the transaction
6. Foreign Buyer Declaration: Required when addressing compliance with foreign buyer restrictions
7. Spousal Consent: Required when the property is or was a matrimonial home
1. Schedule A - Property Description: Detailed legal description of the lot including survey details and boundaries
2. Schedule B - Permitted Encumbrances: List of allowed encumbrances that will continue after the sale
3. Schedule C - Site Plan: Visual representation of the lot including boundaries and key features
4. Schedule D - Payment Terms: Detailed breakdown of payment structure if not paid in full at closing
5. Appendix 1 - Property Tax Certificate: Current property tax assessment and payment status
6. Appendix 2 - Land Survey: Recent land survey showing lot boundaries and measurements
7. Appendix 3 - Title Search: Results of title search showing chain of ownership and encumbrances
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