When should I contact a lawyer after my offer is accepted in Newfoundland and Labrador?
This answer covers the law of Newfoundland and Labrador.
You should generally contact a lawyer as soon as your offer is accepted, before your condition deadlines start to run out. Preparing a deed or mortgage that must be registered in a public office counts as the practice of law. The Registry of Deeds also says it is advisable to engage a lawyer to prepare the documents.
How long you have for an inspection or financing depends on the conditions written into your accepted offer, so find your copy right away. Title searching in the province is complicated, and registry staff do not do searches for clients. Registration fixes the time and priority of your interest. An instrument that has not been registered can be void against a later purchaser or mortgagee for value who registers first.
Have ready your signed agreement, the list of conditions with their dates, your lender's details and your identification. Also plan for the registration charge, which starts at $100 plus $0.40 for each $100 above $500. A lawyer can confirm the steps and timing for your purchase.
Key takeaways
- Preparing a deed or mortgage that must be registered counts as the practice of law in Newfoundland and Labrador.
- The Registry of Deeds says it is advisable to engage a lawyer to prepare the documents.
- Your inspection and financing deadlines come from the conditions in your accepted offer, so keep a copy handy.
- An unregistered instrument can be void against a later purchaser or mortgagee for value who registers first.