Articles written by Krische & Co. Notaries on real estate.
Title insurance protects the policyholder from financial loss – including associated legal expenses – incurred as a direct result of fraud and unforeseen title challenges and defects. Coverages & Inclusions Fraud Title fraud is a crime that occurs when a fraudster successfully represents himself as the property owner in order to either (1) sell the […]
The Perks of Title Insurance Read More »
British Columbians enjoy the benefit of one of the greatest land title registry systems in the world. Our provincial system combines English common law and Australian Torrens system principles, resulting in an efficient, convenient system that guarantees title and brings certainty to land ownership. Historical Context: Uncertainty & Risk in Land Ownership Under the original
Security & Certainty for BC Property Owners Read More »
What is a Form F? A Strata Form F Information Certificate is written verification from a strata corporation that there is no outstanding balance – including strata fees, special levies, fines, chargeback costs – owed by the strata lot owner. Like a strata Form B Information Certificate, each Strata Form F is uniquely created for
Strata Form F Certificate of Payment Read More »
What is a Form B? A strata Form B Information Certificate is a document that provides critical information about both the strata corporation and a specific strata lot, including: the amount of the regular monthly strata fees; the balance of any arrears and special levies for a specific unit; allocation of parking stalls and storage
The Importance of a Strata Form B Information Certificate Read More »
More than 1.5 million British Columbians – about 30% of the population – live in strata housing; 1 considering stratification trends, increasing market prices, and the realization that strata housing can offer an unparalleled level of security, convenience and/or amenities for a price point that cannot be met in non-strata homes, it can only be expected
Strata Corporations Read More »
Co-operative Housing Summary Co-operatives are a form of shared ownership where each owner is a shareholder in a corporation that holds legal title to the property. This is a unique type of ownership – different than condominium and strata living – that can come with its own challenges and benefits. What is it? A Co-operative or Co-op is a type of
Co-Operative Housing Read More »
This article distinguishes the two main categories of land estates in British Columbia. It is important that owners understand the nature of the ownership that they are buying before they enter into a contract to purchase the property. Freehold A Freehold estate is one in which person(s) own a property in perpetuity or until deciding
Freehold vs. Leasehold Estates Read More »
Quick Highlights: In relation to a variable rate mortgage, a “fixed payment” means that the borrower’s payment amount never changes, regardless of changes to (Prime and variable) interest rates. Trigger Point is the threshold that is reached when the Prime Rate has increased to a rate where the borrower’s entire fixed payment no longer covers the
Mortgage Trigger Point Read More »
This article will help you establish a basic understanding of the fundamentals of mortgages, including terminology, types of loan products and registration/ legal set-up processes. Mortgage Terminology Before delving too deeply into explanations, it is first helpful to review some common terms associated with mortgages and borrowing money. Borrower or Mortgagor: entity that borrows money. Lender
Mortgages and HELOCS and STEPS– Oh My! Read More »
As a Notary, real estate is a BIG part of my job. But, oftentimes my phone rings, I answer, and on the other end of the line is an excited and slightly nervous voice confessing: “This is my first time buying and… I guess I need you for something?” Most Realtors and Mortgage Brokers advise
A Notary’s Role in your Real Estate Transactions Read More »
