Document background
The Agreement To Sell A House is a crucial legal document used in Canadian residential real estate transactions to formalize property transfers between parties. This agreement is essential when any residential property is being sold in Canada, whether it's a single-family home, condominium, or other residential property. The document must comply with federal laws such as the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, as well as provincial real estate and property laws. It includes comprehensive details about the property, transaction terms, conditions of sale, warranties, and obligations of all parties involved. The agreement serves as the foundational document for the property transfer process and is typically prepared after initial negotiations but before the closing process begins. It provides legal protection for both buyer and seller while ensuring all aspects of the transaction are clearly documented and legally enforceable.
