Document background
A Purchase Deed is a crucial legal instrument in Canadian real estate transactions, used to formally transfer ownership rights in real property from one party to another. This document is essential in both residential and commercial property transactions across all Canadian provinces, though specific requirements may vary by jurisdiction. The Purchase Deed includes detailed property descriptions, parties' information, consideration amount, and various legal warranties and covenants. It must comply with provincial land registration requirements and often needs to address specific local regulations regarding property transfers. The document is typically prepared following a successful purchase agreement and forms part of the closing documentation. It serves as permanent evidence of the transfer and must be properly registered in the appropriate land registry system to perfect the transfer of title.
