The Real Estate Bill of Sale Contract is a fundamental legal document used in Canadian real estate transactions to facilitate and document the transfer of property ownership. This contract type is essential when any real property is being sold, whether residential, commercial, or industrial. It serves multiple purposes: documenting the agreed-upon terms of sale, protecting both parties' interests, ensuring compliance with provincial and federal regulations, and providing necessary documentation for land registry offices and financial institutions. The document typically includes detailed property descriptions, purchase price, payment terms, closing conditions, and various representations and warranties. It must comply with provincial real estate laws, the Statute of Frauds, and other relevant legislation. This contract is particularly important as it creates a clear paper trail for the transaction and helps prevent future disputes regarding the terms of the sale.
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1. Parties: Identifies and provides full legal names and addresses of the seller and buyer
2. Background: Establishes the context of the sale and confirms the seller's ownership and right to sell
3. Definitions: Defines key terms used throughout the document for clarity and legal certainty
4. Property Description: Detailed legal description of the real estate being sold, including municipal address and legal land description
5. Purchase Price: States the agreed purchase price and details of payment terms, including deposits and final payment
6. Title and Ownership: Confirms clear title and transfer of ownership, including any warranties of title
7. Closing Date: Specifies the date when the sale will be completed and possession transferred
8. Representations and Warranties: Seller's statements about the property's condition and legal status
9. Property Condition: Details the condition in which the property will be delivered to the buyer
10. Closing Costs and Adjustments: Allocation of various closing costs, taxes, and utilities between parties
11. Default and Remedies: Specifies consequences and available remedies if either party defaults
12. Notices: How and where formal notices between parties should be delivered
13. Governing Law: Specifies that Canadian law governs the agreement
14. Execution: Signature block and execution requirements
1. Financing Conditions: Include when buyer's purchase is contingent on obtaining mortgage financing
2. Property Inspection: Include when sale is conditional on satisfactory property inspection
3. Existing Tenancies: Include when property has current tenants and their rights need to be addressed
4. Environmental Matters: Include when there are environmental concerns or requirements
5. Fixtures and Chattels: Include when specific items are included or excluded from the sale
6. Planning Permissions: Include when property development or use changes are contemplated
7. GST/HST Provisions: Include for commercial properties or new residential properties subject to GST/HST
8. Foreign Buyer Provisions: Include when buyer is non-Canadian to address compliance with Foreign Buyer Ban Act
9. Condominium Provisions: Include when property is a condominium unit
10. Survey Requirements: Include when new survey is required or existing survey needs certification
1. Schedule A - Legal Property Description: Detailed legal description of the property including lot numbers, plan numbers, and boundaries
2. Schedule B - Included Fixtures and Chattels: Itemized list of all fixtures and personal property included in the sale
3. Schedule C - Excluded Items: List of items specifically excluded from the sale
4. Schedule D - Current Leases: Details of any existing lease agreements affecting the property
5. Schedule E - Property Disclosure Statement: Seller's disclosure of known property conditions and issues
6. Schedule F - Environmental Reports: Summary or copies of environmental assessments or reports
7. Schedule G - Property Condition Report: Detailed report on the current condition of the property
8. Appendix 1 - Property Images: Recent photographs of the property and included items
9. Appendix 2 - Property Plans: Floor plans, site plans, or architectural drawings
10. Appendix 3 - Title Documents: Copies of relevant title documents and certificates
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Construction
Banking and Finance
Legal Services
Insurance
Property Management
Commercial Property
Residential Property
Agriculture (for farmland)
Retail
Industrial
Hospitality
Relevant Teams
Legal
Real Estate
Property Management
Acquisitions
Compliance
Risk Management
Finance
Operations
Contract Administration
Document Control
Investment
Due Diligence
Relevant Roles
Real Estate Agent
Real Estate Broker
Property Lawyer
Conveyancing Lawyer
Title Examiner
Property Manager
Real Estate Developer
Mortgage Broker
Real Estate Investment Manager
Property Acquisitions Manager
Legal Counsel
Compliance Officer
Real Estate Administrator
Contract Manager
Real Estate Paralegal
Settlement Officer
Real Estate Portfolio Manager
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