Understanding Real Property Law
Since the single largest investment a person generally makes is their home. Great importance exists in understanding the nature of real property. at its most basic, people often refer to it as real estate. Kahane Law Office started the firm dealing specially with real estate. With decades of experience, our lawyers assist clients everyday with real estate related matters. Since our offices include locations in both Calgary and Edmonton, we help across Alberta.
Property Vs. Real Property
To help people understand the difference between property and real property, we use this example. Property includes anything a person can own. For example, a car, vase, shares in a company or a teapot. This type of property is commonly referred to as personal property. Real property specifically relates to all types of land. For example, this includes commercial land, your home, condominiums, farm land, industrial land, etc.
What Is Real Property?
At its basic definition, real property is land. However, it includes more than just the land itself. For example, it also includes anything attached to it. Common examples, include a house, building, towers, roads, machinery, etc. To make things more confusing, real property also includes waterways such as canals and ponds and minerals located under the ground. Essentially, it includes the ground, anything permanently attached to the ground and natural structures forming part of and existing under the ground. As simplistic way of thinking about it is it includes immovable property.
Registering Ownership In Real Property In Alberta
Alberta uses a Torrens Land Titles System. Essentially the provincial government guarantees the registrations on title for each piece of real property province wide. The system is available for anyone to search any property. The search shows several things including those items typically registered against the title to a property. For example, a land titles search shows the owner of land, the type of ownership and any debt or other interest registered against the land.
Types Of Real Property Ownership
Ownership and interests in land includes a wide variety of forms. In order to determine the type of interest you need help with, we provide assistance to you or your company. For example, some forms of interests in real property registered at the Alberta Land Titles Office include:
Fee Simple Ownership
This is the most common form of ownership in Alberta real estate law. Technically and historically, the Crown owns all land in Canada. This often scares people when they learn this. However, fee simple ownership is what people refer to as true ownership. If you see this on your title, then your right to sell, mortgage, trade, use, etc the land and its attachments are absolutely yours.
Life Estate
A life estate is an interest in land given to a person to hold and use the land for as long as they live. On the passing of the person with a life interest, the land reverts back to the owner in fee simple. These see frequent use in estate planning and in arranging property interests in blended families.
Leasehold Interest
When someone rents land or a building to a person or company for an extended period of time (over three years) that interest includes a registerable protective element. In registering a leasehold interest, the tenant makes the world aware that the landlord lacks the ability to rent to property to anyone else. Further, any buyer of the land, takes ownership of the land with that leasehold interest protected. The fee simple owner retains absolute ownership. Of note is that when you rent a home for a year, it is a form of lease however, the renter lacks the legal ability to register their interest against title to the property.
Registered Interests In Land
Many interests include a legal right to record that interest at the Alberta Land Titles Office. These interests include rights to access land, such as an encroachment agreement, easement or party wall agreement. They also include a notice of a financial interest in land. Financial interests also take many forms. However, the two most common include real property interests allowed by legislation and those allowed by contract.
Legislated Interests
Liens are interests in real property allowed by statute. Statues and legislation mean the same thing for these purposes. In other words, these represent the law as passed by politicians. For example, these legal interests include builders’ liens and beet farmer Liens.
Interests By Agreements In Writing
The other main form of securing a financial interest on real property is by way of an agreement in writing charging land. Technically, the interest is allowed by statute, as the law states that agreements in writing have this advantage, however the document itself that allows the registration is one created and agreed to privately. The law requires the use of very specific language for registration. These frequently appear as a caveat on title. Another example includes a mortgage.
What Real Property Lawyers Help Clients With
Our real property lawyers assist clients with all real estate matters. For example, we assist with clients
- Buying land or an interest in land;
- Selling any type of real estate;
- All financing related matters including collections; and lastly
- Litigation of disputes related to real property, including the partition and sale of the property
Real Property Lawyers In Alberta
When you need help with real property legal issues, Kahane Law Office offers a full line of legal services. Unsure of the help you need, email or call today. We frequently clarify a clients specific legal requirements within 5 minutes and do so at no charge. For example, we identify if you need to transfer land, require a litigation lawyer, family lawyer, or, at times, require no legal assistance at all. Connect now for practical solutions to your legal issues. Often email is the fastest way to reach our team since it allows you to provide details. Email our team directly here. We also love calls. Call us at 403-225-8810 locally in Calgary, Alberta. In addition, feel free to call us toll-free at 1-877-225-8817. No matter how you reach us, we enjoy helping when you need us.