In Alberta, real estate lawyers are legally required to handle property transactions. They help make sure the title is clear, prepare and review contracts, register the transfer of land, protect your financial interests, and facilitate the secure transfer of funds. Their expertise helps prevent legal issues and ensures a smooth closing process.

Their role goes beyond paperwork. First, they’ll confirm that the property title is clean — free from any liens or claims. They’ll then handle the legal transfer, making sure the documents are properly prepared and registered. If there’s a mortgage involved, they coordinate with the lender to keep things moving smoothly. Throughout the process, they manage the funds securely and make sure every legal requirement is fully met.

A mortgage is a loan agreement between a buyer and a lender, where the property is used as security for the loan. A title charge, such as a lien or caveat, is any registered claim or restriction on the title that may impact the property owner’s rights.

If a real estate transaction collapses, the consequences depend on the terms of the purchase contract. If the buyer backs out without a legal reason (such as financing conditions not being met), they may lose their deposit and face potential legal action from the seller. If the seller fails to fulfill their obligations, the buyer may seek damages or a court order to enforce the sale.