From Notary Closing to Taking Possession of Your New Home

The transition from the notary’s office to taking physical possession of your new home is the legal and logistical culmination of your real estate project in Québec. This process involves the validation of property titles, the signing of official deeds, and the settlement of financial adjustments, eventually leading to the handover of keys according to the terms of your offer to purchase.

Meeting with a notary is not a mere administrative formality; it is a critical protection for anyone buying a single-family home, a townhouse, or a condo. As a public officer, the notary has a duty to act impartially to ensure the legal security of the transaction. They verify that the transfer of ownership is indisputable and that funds are securely distributed through a trust account. Once the conditions of your offer accepted are met, the notary takes over to coordinate the final details before you can move in.

Title Examination: The Foundation of Your Security

One of the notary’s most important responsibilities is the title examination. This analysis involves tracing the history of past transactions on the property to ensure the chain of ownership is continuous and free of defects. The notary verifies that each previous owner had the legal right to sell and that all prior mortgages have been validly discharged.

During this examination, the notary also scrutinizes the certificate of location. This document, prepared by a land surveyor, is essential to confirm that the lot dimensions are accurate and that the buildings (single-family home or townhouse) comply with municipal regulations and easements. For a condo, the notary will examine titles related to the private portion and, in some cases, elements affecting common areas that could impact your ownership rights.

If the examination reveals irregularities, such as an encroachment or an undeclared easement, the notary must intervene. They may ask the seller to correct the situation or suggest title insurance to protect the buyer against potential future disputes. This rigor ensures you become the legitimate owner of a property free of unforeseen encumbrances.

Condo Documents and Bill 16

When purchasing a condo, special attention is paid to condo documents before buying. Under recent legislative reforms, specifically Bill 16, it is necessary to request access to the maintenance log and the contingency fund study, although their availability depends on the effective dates of specific regulations and their implementation by the condo association.

The notary’s role here is to help you identify the documents required from the seller and the association without providing a legal opinion on internal management. Verifying common charges and special assessments remains essential to prevent any financial surprises after closing.

Financial Preparation and Adjustments

Before the official meeting, the notary prepares the Statement of Adjustments. This document allocates property-related expenses between the seller and the buyer, calculated pro-rata based on the possession date. This step is crucial for your final budget calculation.

It is important to note that utility costs such as electricity or telecommunications are generally not included in these adjustments. You are responsible for contacting providers to coordinate account transfers on the scheduled date. Proper planning for homeownership costs includes these adjustments, which must be paid at the time of signing.

The Notary Signing Process

The meeting at the notary’s office typically consists of two distinct acts, which may take place during the same appointment.

#### 1. The Mortgage Deed If you are financing your purchase with a loan, you will need to sign the mortgage deed. The notary explains the terms of your commitment to the financial institution, including your repayment obligations and the conditions related to the real estate security. At this stage, the notary confirms receipt of funds from the lender, which are deposited into their trust account for secure management.

#### 2. The Deed of Sale The deed of sale is the official document that transfers ownership from the seller to the buyer. The notary reads it to the parties to ensure all clauses, including inclusions and exclusions planned during negotiating the home purchase, are respected. Once signed, the deed is registered at the Québec Land Register, making your title official and public.

Professional Compensation

The compensation of real estate brokers is governed by strict transparency rules. The terms of remuneration are indicated in the brokerage contract. It is important to understand that a difference in the sharing between the agencies involved may result in an amount payable by the buyer or be financed in the offer, depending on the agreements reached. This structure ensures that professional support services are clearly defined and documented from the start of the buying process.

Taking Possession and Handing Over the Keys

Taking possession is the moment you gain the right to physically occupy the premises. Although this date often coincides with the signing of the deed of sale, it may differ depending on what was agreed upon in the offer to purchase.

• Immediate Possession: Keys are handed to you at the end of the notary session.
• Delayed Possession: The seller may remain on the premises for a specified period after the sale, often in exchange for financial compensation.

Before moving in, it is highly recommended to perform a final walkthrough of the property. Ensure the condition of the premises meets your expectations and that all items included in the sale are present. If you had specific questions during your home viewing, this is the time to validate that everything is in order. In case of a major discrepancy, your broker can advise you on possible remedies before the funds are fully released by the notary.

Post-Closing Tax Obligations

Becoming the owner of a single-family home, a townhouse, or a condo brings short-term tax responsibilities. The most well-known is the land transfer tax, commonly referred to as the "welcome tax." This tax is collected by the municipality a few weeks or months after the transaction. It is calculated based on the higher of the purchase price or the municipal evaluation. It is essential to include this amount in your overall financial planning to avoid any unnecessary stress after you move in.

Conclusion: Stepping Across the Threshold with Confidence

The journey from the notary to taking possession is the final stretch of your acquisition. By relying on the notary’s expertise for title validity and your broker’s coordination, you ensure a smooth transition. Whether you have chosen a new construction or a resale home, success lies in thorough preparation of the legal and financial aspects. You can now fully enjoy your new investment and begin this new chapter of your life with peace of mind.