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Bargain Sale Deed Template for Canada

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Key Requirements PROMPT example:

Bargain Sale Deed

"I need a Bargain Sale Deed to transfer my commercial property in Vancouver to a local environmental charity at 60% of market value ($2.5M instead of $4.2M market value), with completion by March 2025, including specific environmental protection covenants and charitable gift documentation."

Document background
The Bargain Sale Deed is a specialized legal instrument within Canadian property law that facilitates the transfer of real estate at a price below fair market value. This document type is particularly valuable in scenarios involving charitable donations, family property transfers, or strategic dispositions where the seller wishes to combine a sale with a gift. The deed must meticulously document the property details, actual consideration paid, fair market value, and the gift portion of the transaction. It requires compliance with provincial land transfer regulations and federal tax laws, especially when charitable deductions are involved. The document includes essential elements such as property descriptions, warranties of title, encumbrance details, and tax provisions. It's commonly used by non-profit organizations, educational institutions, and families for tax-efficient property transfers, requiring careful consideration of both legal and tax implications.
Suggested Sections

1. Parties: Identifies and provides full legal names and addresses of the Grantor (seller) and Grantee (buyer)

2. Background: States the context of the bargain sale transaction, including the charitable or family nature if applicable

3. Definitions: Defines key terms used throughout the deed

4. Property Description: Detailed legal description of the property being transferred, including lot numbers, boundaries, and references to survey plans

5. Consideration: Specifies the agreed-upon sale price and acknowledges that it is below market value, stating the fair market value and the difference as a gift portion if applicable

6. Transfer and Conveyance: Legal language transferring title from Grantor to Grantee

7. Title Warranties: Grantor's warranties regarding ownership, right to convey, and status of title

8. Encumbrances: List of any existing liens, easements, or other encumbrances that will continue after transfer

9. Tax Provisions: Addresses property tax prorations and responsibility for transfer taxes

10. Execution: Signature blocks for all parties and notary acknowledgment

Optional Sections

1. Environmental Warranties: Used when there are concerns about environmental conditions or when required by local regulations

2. Charitable Gift Acknowledgment: Required when the bargain sale is to a charitable organization and part of the value is intended as a charitable donation

3. Reserved Rights: Included when the Grantor wishes to retain certain rights in the property

4. Mineral Rights: Used when mineral rights are being specifically included or excluded from the transfer

5. Future Use Restrictions: Added when there are conditions or restrictions on future use of the property

6. Right of First Refusal: Optional clause giving the Grantor first right to purchase if the Grantee decides to sell

7. Survival Provisions: Specifies which warranties and representations survive closing

Suggested Schedules

1. Schedule A - Property Description: Detailed legal description of the property including metes and bounds or lot descriptions

2. Schedule B - Permitted Encumbrances: List of all permitted encumbrances that will continue after transfer

3. Schedule C - Property Survey: Current survey of the property showing boundaries and improvements

4. Schedule D - Fair Market Value Assessment: Professional appraisal or assessment documenting the property's fair market value

5. Schedule E - Environmental Reports: Any environmental assessments or reports if applicable

6. Schedule F - Tax Certificates: Current tax certificates showing status of property taxes

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions






























Clauses






























Relevant Industries

Real Estate

Legal Services

Non-Profit & Charitable Organizations

Public Sector

Construction & Development

Financial Services

Property Management

Education (for institutional property transfers)

Healthcare (for medical facility transfers)

Environmental Services

Relevant Teams

Legal

Real Estate

Tax

Property Management

Corporate Development

Charitable Giving

Risk Management

Compliance

Finance

Operations

Relevant Roles

Real Estate Attorney

Property Manager

Legal Counsel

Tax Advisor

Real Estate Agent

Title Officer

Property Appraiser

Non-Profit Executive Director

Estate Planner

Land Registry Officer

Corporate Real Estate Manager

Property Development Manager

Charitable Giving Officer

Real Estate Paralegal

Tax Manager

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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