Yes, it is recommended to use a lawyer to complete a real estate transaction in Canada. A real estate lawyer can help you navigate the legal process, review and negotiate the purchase agreement, and ensure that the transfer of title is done correctly. They can also protect your rights and interests throughout the transaction, provide guidance on relevant laws and regulations, and assist with any disputes that may arise. Additionally, in some provinces in Canada, a lawyer's involvement is required to complete a real estate transaction.
I've heard people say "I'm buying a business - this isn't real estate". Well if there is a lease, then it's considered Real Estate by the Law. A lease is a legally binding agreement between a landlord and a tenant that allows the tenant to use a property, such as a commercial space or a residential unit, for a specified period of time in exchange for rent. Real estate can refer to both the physical property and the rights and interests associated with it, and a lease falls under this definition as it pertains to the use and occupancy of real property.
I've heard people say "I'm buying a business - this isn't real estate". Well if there is a lease, then it's considered Real Estate by the Law. A lease is a legally binding agreement between a landlord and a tenant that allows the tenant to use a property, such as a commercial space or a residential unit, for a specified period of time in exchange for rent. Real estate can refer to both the physical property and the rights and interests associated with it, and a lease falls under this definition as it pertains to the use and occupancy of real property.
