Transfer of Ownership
Understand how transfer of ownership works in Canadian real estate — what’s involved in legally changing title from one party to another.
June 23, 2025
What is Transfer of Ownership?
Transfer of ownership is the legal process by which the title of a property is passed from one party to another, typically through sale, inheritance, or gift.
Why Transfer of Ownership Matters in Real Estate
In Canadian real estate, the transfer of ownership involves legal documentation, registration with the land registry, and often tax implications such as land transfer tax or capital gains.
The process includes:
- Agreement of purchase and sale
- Title search and due diligence
- Discharge of existing liens or mortgages
- Registration of new title with provincial authority
Transfers may also occur through divorce settlements, estate transfers, or corporate restructuring.
Understanding ownership transfer helps buyers, sellers, and professionals ensure a smooth and legally compliant transaction.
Example of Transfer of Ownership in Action
Upon closing, the lawyer completes the transfer of ownership by registering the buyer as the new title holder with the provincial land registry.
Key Takeaways
- Legally moves property title between parties
- Involves documentation and registration
- May include taxes and legal fees
- Can occur via sale, gift, or estate
- Requires title search and due diligence
Related Terms
- Title Transfer
- Legal Title
- Agreement of Purchase and Sale
- Land Transfer Tax
- Property Title Search
Average and median describe different aspects of the same month’s transactions. Both are affected by the mix of homes sold.
Category averages compare different homes and locations; the gaps are not estimates of the cost to upgrade an otherwise identical property.
The five categories shown account for 5,000 of the board’s 5,057 sales. The remaining 57 transactions were in other housing categories.
Monthly observations are not seasonally adjusted. Active listings count properties available at month-end; they are not construction inventory.
Average and median prices share one dollar axis. These unadjusted transaction measures do not control for changes in the homes sold.
TRREB’s 416/905 categories compare the apartments sold in each area. The difference does not isolate a location premium for equivalent units.
5680 Oak Street in Vancouver and its surrounding context. (MCMP Architects)
Ground-level renderings of the tower proposed for 5680 Oak Street in Vancouver. (MCMP Architects)
