Tenancy-at-Will and Transfer Back

Why am I signing these documents? So the vendor knows that if you move in without paying the full sale price, you will move out if you do not complete. Otherwise the vendor will not let you in unless you have paid in full including all mortgage monies. Because you need title to advance the mortgage, the vendor will not let you use the transfer to put title into your name unless you sign a transfer to put title back if you do not pay - i.e. your bank goes under like those which have under the sub-prime mortgage "crisis" in the U.S.A. and cannot advance the mortgage funds. Perhaps you may be fired or be injured and for that reason your bank refuses to lend the mortgage funds. If so you need the transfer back to return title to the vendor.

Meikle Osgood can help you with the following Residential Real Estate Law Services:

Contact our Residential Real Estate Lawyers at Meikle Osgood in Edmonton, AB.