Notary Public Question

[GingeRRRBeef]

My gf was told when purchasing a home, getting a notary public for the legal documents is going to be cheaper than getting a lawyer. Does anyone know the details into this?

[JRSC00LUDE]

While land title documents can be completed yourself, I wouldn't recommend purchasing a home without going through a lawyer. While the prices can be high, they perform functions that you cannot do on your own. For example, who is going to hold the funds in trust while you wait for your title to clear? Or will you just hand over the money to the other party without having a title issued in your name?

I verify, process and register title transfers for a living and when I buy property outiside the scope of family dealings, or where third party lenders are involved, I still go through a lawyer. So does everyone else I work with regardless of the fact that we are more versed in completing the documents than most of them are. You are paying for peace of mind and safety.

[adam c]

back from when i worked for a mortgage company, notary's are useless, they can't do half the things a true lawyer can do

don't cheap out, go the real way

[Weapon_R]

What an awful idea. You are dealing with potentially hundreds of thousands of dollars and saving 500 dollars by going through a notary is the LAST place you want to cheap out on.

Who is going to hold your funds? Who is going to complete the title checks from the date of the patent deed until present day to ensure that there are no discrepancies? A notary? Not likely.

[GingeRRRBeef]

Yeah, thanks guys.

I have no clue what a notary public is so I thought I'd ask. The gf heard it from her manager at work because he got his deed done by a notary or something and he said it saved him a bunch of $$$. So she thought it would be a good idea.

We're looking to buy a place soon and there's tons of research I still need to do. Thanks for the help.

[JRSC00LUDE]

Originally posted by adam c
back from when i worked for a mortgage company, notary's are useless, they can't do half the things a true lawyer can do

don't cheap out, go the real way

A notary is fully capable of completing a title transfer, as is you or I. I just would recommend the lawyer for all the other reasons, the paperwork isn't the real benefit of having a lawyer.

Originally posted by Weapon_R
Who is going to complete the title checks from the date of the patent deed until present day to ensure that there are no discrepancies? A notary? Not likely.

What do you mean there? Is alberta not on a Torrens system of land ownership? Do you raise title there or is it a deed system like the U.S. where you must prove title back to day 1?

[adam c]

k ill correct myself, notary's aren't completely useless, they can still do lots of things, but lawyers a much better and can help you in court and the like.
also they can hold money where notary's cannot

[Weapon_R]

Originally posted by JRSC00LUDE
What do you mean there? Is alberta not on a Torrens system of land ownership? Do you raise title there or is it a deed system like the U.S. where you must prove title back to day 1?

I'm not sure if we use the torrens, tract, or grantor-grantee index here in Alberta. I thought most jurisdictions were grantor-grantee, which is why I said the above...

[benyl]

Isn't the lawyer fee like $500?

[JRSC00LUDE]

Originally posted by Weapon_R


I'm not sure if we use the torrens, tract, or grantor-grantee index here in Alberta. I thought most jurisdictions were grantor-grantee, which is why I said the above...

I checked, it is torrens there so there is no need to prove title. I don't think anywhere in Canada, with the exception of Ontario, has a deed system. Someone could correct me if I am wrong. Good thing though since the deed system sucks, it's tiime consuming, inaccurate and much easier to defraud.

And yeah, typical lawyer fees would be in the 500-800 range for a single title transfer.