Legal aspect of real estate
Whether you are a seller, buyer, or investor, the real estate industry is governed by a whole range of laws, regulations, procedures, customs, steps, and documentation.
This page informs you about important aspects of home ownership
General presentation of the legal aspect of access to property.
Importance of understanding the legal aspects in the real estate sector.
Laws and regulations
Quebec Real Estate Brokerage Act
This law governs the activities of real estate brokers and real estate agencies in Quebec. It aims to protect the public by regulating real estate brokerage practices and ensuring the competence and integrity of brokers.
Civil Code of Quebec
The Civil Code of Quebec contains several provisions relating to the purchase and sale of property. It defines the rights and obligations of buyers and sellers, as well as the rules concerning sales contracts, mortgages, and servitudes.
Eviction Law
This law limits landlords' right to eviction and strengthens the protection of tenants, particularly senior tenants. It prohibits, for a period of three years, a landlord from evicting a tenant in order to subdivide the dwelling, substantially enlarge it, or change its use.
Urban Planning Regulations
The City of Montreal's urban planning regulations govern land use and building construction. They aim to ensure the harmonious and sustainable development of the city, while respecting the rights of property owners and residents.
Necessary documents
Certificat de Localisation
Ce document détaille l'état actuel de l'immeuble, y compris les limites de la propriété et les structures existantes
Acte de Vente
Ce document officiel transfère la propriété du vendeur à l'acheteur. Il est rédigé par un notaire et doit être signé par les deux parties
Acte de Prêt Hypothécaire
Si l'acheteur finance l'achat avec une hypothèque, cet acte est nécessaire pour officialiser le prêt
Factures des Travaux
EffectuésLes factures justifiant les travaux effectués sur la propriété, tels que la réfection de la toiture ou le remplacement des fenêtres, doivent être fournies
Relevés des comptes suivants:
Électricité, de gaz, et des taxes municipales et scolaires
Ces relevés permettent de vérifier que toutes les factures sont à jour et payées
Dernier relevé du prêt hypothécaire
Ce relevé montre le solde restant du prêt hypothécaire actuel, s'il y en a un
Documents de l'assurance habitation
Les documents relatifs à l'assurance habitation doivent être fournis pour garantir que la propriété est assurée
Obligations of the
seller
Disclosure of Information:
The seller must provide the buyer with all relevant information regarding the property, including hidden defects and known defects.
This includes the submission of official documents such as the deed of acquisition, previous title deeds, and the recent location certificate.
Delivery of property:
The seller is obliged to deliver the property in the capacity or quality indicated in the contract.
This means that the property must comply with what was agreed in the sales contract.
Legal guarantee:
As a general rule, the seller must guarantee that the property is free from hidden defects that could make the use of the property impossible or significantly reduce its usefulness.
If hidden defects are discovered after the sale, the buyer may request a reduction in the sale price or cancellation of the sale.
Buyer's Obligations
Payment of the Price:
The buyer is obliged to pay the agreed price for the property on the date fixed in the sales contract
This also includes the payment of notary fees and the costs of publishing the deed of sale.
Property Inspection:
The buyer should inspect the property before the sale is completed to ensure that it meets their expectations.
Any complaints regarding visible defects must be made before signing the sales agreement.
Compliance with the Conditions of the Contract:
The buyer must comply with all conditions stipulated in the sales contract, including payment deadlines and suspensive conditions.
This may include obtaining mortgage financing or selling another property.
