LEGAL TOPICS

TITLE INSURANCE  |  LAND TITLE REGISTRATION  |  WILLS POWER OF ATTORNEY  |  ESTATE PLANNING  |  PROPERTY BUSINESS STRUCTURES  |  PERSONAL INJURIES

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Title Insurance can greatly reduce potential risks associated with the purchase of a home and eliminate the need for an up-to-date-survey. It is in your best interest to familiarize yourself with the benefits of obtaining title insurance.

Title insurance covers:

• Liens, encumbrances, or defects in title
• Forced removal of existing structure (other than a boundary wall or fence)
• Unmarketable land
• Fraud, forgery, duress, incompetence, incapacity or impersonation
• Tax and utility arrears (other than final meter readings)
• Building of a structure on your land after policy date (other than a wall or fence)
• interest claims on the property
• Unregistered easements and right of way
• Defects that would have been revealed by an up-to-date survey
• Lack of a building permit for additions
• Work order, zoning, and set back non-compliance / defense
• no pedestrian / vehicular access to land
• Forgery after the policy date of an instrument claiming an interest in or lien on your title

Atlantica Law Group uses its access to high speed technology and site -specific software designed to assist in title migration to provide homeowners with affordable migration costs. Each property will be charged a one-time fee for title migration.

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WILLS
Making a Will is one of the most important things a person can do. Everyone nineteen years or older should have a will. A Will ensures that your wealth and assets will be distributed in accordance with your wishes. A Will also protects your spouse or family from unnecessary expenses or taxes.

For a Will to be valid, it must be prepared properly and follow certain formalities. It must be signed at the end by the person making the Will and the signature must be witnessed by two other individuals, present at the signing at the same time. If a Will is not signed and witnessed properly, it may be invalid. Changes to an existing Will must also follow proper procedures to ensure validity.

As a general rule, changes in a person's circumstances after they make a Will do not revoke it. Thus, if a person was to divorce, and they had a Will drawn up while they were married, the Will would still be valid. However, as a result of the Wills Act, a marriage will automatically revoke any previous Will. Therefore, anyone who marries, or remarries, should make a new Will as any previous Will is no longer valid.

A Power of Attorney is different from a Will. It can go into effect immediately, or it can go into effect sometime in the future, as you designate. A Will only provides for the distribution of your assets to your beneficiaries upon your death. Power of Attorney permits someone to act on your behalf if you become physically incapacitated, mentally incompetent, or simply if you are away on vacation or business. It permits someone you trust to act for you when you cannot.

A Power of Attorney can appoint someone to be your guardian in the event that you become incompetent. This is called an Enduring Power of Attorney. You cannot wait until you become incompetent to have this executed. A Power of Attorney can only be executed by someone who is mentally competent and understands the full nature and effect of the document. If a Power of Attorney does not exist and you become incompetent, it will require an application to the Courts and a Judge will appoint someone to be your guardian for the purpose of managing your financial affairs.

Make a Will. If you do not have a Will, your estate will be distributed to your nearest relatives as specifically set out in the Intestate Succession Act. The distribution of your estate when you do not have a Will is very arbitrary and does not consider a person's wishes.

Appoint a Power of Attorney. This is a written document that gives someone you appoint the right to act on your behalf. A Power of Attorney is a very powerful document. It may permit the designated person to manage all your financial affairs, sell your home or motor vehicle and distribute the assets as they see fit. Therefore, the person you appoint should be someone you know well, trust, and who you believe will act in your best interest. It is for this reason that the person you appoint is normally a close family member or friend.

A Lawyer's Certificate of Title is the traditional means of protecting yourself and your lender on a property purchase. The lawyer searches the records at the Registry of Deeds, and provides you with an opinion of the title to the property. This opinion may be subject to certain limitations. The lawyer's certificate ensures that you will have good and sufficient marketable title. You will also have to obtain a Surveyor's Location Certificate to confirm that the dwelling is located completely within the boundaries of the lot. Your mortgage company will usually require these two certificates. A Tax and/or Zoning Certificate may also be required.

Title Insurance is a new product in Atlantic Canada, but it has been used in the United States for over 100 years. With Title Insurance, the lawyer still searches the title to the property you are buying at the Registry of Deeds, and then certifies title to a Title Insurance Company. The Title Insurance Company then provides a written policy issued to you and your mortgage company. This policy confirms that you have good and sufficient marketable title, and protects you from loss if this is not the case. It also protects you if the dwelling is not completely located within the boundaries of the lot. Financial institutions will accept Title Insurance in the place of Location, Tax, or Zoning Certificates.

Sole Proprietorship is the simplest, and is relatively easy, fast, and inexpensive to set up. The law requires a business to be registered in the province where it is located. Proprietorships allow you to write off business losses against your personal income, which may be attractive in the early years of a company when losses are not uncommon. However, you can be held personally liable for your business debts and expenses. In some cases, this has meant the loss of owners' savings and home.

Partnerships are very similar to sole proprietorships, but are complicated by the existence of multiple owners. Working together, members of a group can pool their knowledge, finances and resources. Sometimes this works well and strengthens the venture. However, when partners disagree, the results can be disastrous.

Incorporated businesses can often benefit from a number of legal and tax advantages not available to proprietorships or partnerships. Incorporation can provide some protection against personal liability for the corporation's debts. But there are disadvantages, especially for small businesses, the process of incorporation can be expensive to set up and involve complexities which often require the services of a professional.