Well, in our very unbiased opinion .. YES!
Here’s why: all Real Estate transactions involve one party (usually the seller) blinking first (i.e. giving away legal title) and then waiting for the other party (usually the buyer) to come through on their end of the bargain (i.e. pay the purchase price). Now all lawyer jokes aside, most people trust their lawyer more than a person they don’t know. And for good reason – lawyers are regulated and insured. One lawyer can impose strict trust conditions on another lawyer to make sure certain things happen. So lawyer’s parachute in to help the process to run smoothly – that is, the seller will be ok to give legal title away . . . . as long as their lawyer has made sure they are protected and are pretty much certain to get their money or at the very least title back. Lawyers help with that. On the other side, buyers and their lenders want to make sure that if they pay (or fund), they will actually get title and get it free and clear of the sellers mortgage and other encumbrances. Lawyers can help make that happen.
If you want some more detail about what goes on in a real estate transaction, and how lawyers assist with that, visit our web site at http://www.rht-law.ca/#!real-estate-articles – you can read an article there or download the pdf and read it later.
Or simply call Darren at 780-436-8554 Ext 242.
Darren Richards, originally from Saskatchewan, has called Alberta home for over 35 years where he is currently a partner in the firm Richards Hunter Toogood. Mr. Richards has taught the Law Society of Alberta Bar Admission Course in the Real Estate Law Section and currently carries on a busy commercial and residential real estate practice.