Hi and welcome back! As your Calgary Mortgage Broker, I want to help advise and save you money.  I think this post does BOTH for you!

First, the title of your property (detached home, townhouse or condo) is registered in the owners name AND the Mortgage lenders name.

For simplicity, the owners of the home are anyone initially on the Mortgage application when you purchased it.  Also registered on title of your home is the Mortgage lender.  Why?  Because each party has a financial interest in your home (your Mortgage).  Being on title entitles BOTH parties to an interest in the property should it be sold.

How To Add/Remove A Person To The Title Of Your Home:

Note: you might wish to include a lawyer to assist you with this process.  Or you might wish to proceed on your own?  Follow these steps to change title of your home without a lawyer:

1.  Gather up necessary documents.  The documents you’ll need are your homes property tax assessment and property assessment valuation.  Your tax assessment contains the legal description of your home, which is what the Alberta land titles office needs.  Your property assessment valuation tells you the value of your land and home for taxation purposes.  Be sure to also have valid ID, passport or any identification issued from Alberta registries.

2.  Download and complete this document:  https://chadmoore.co/land-titles/.  This is a download from the AB Land Titles office outlining the fees and forms required to add or remove people on title of your home.

The base fee is $50, plus $1 for every $5,000 of value of your property.   If you want any extra titles or a certified copy of title that is an extra $15 & $10 respectfully.

3.  Go down to the Land Titles Office (2^nd floor, 710 – 4^th Ave SW) with your documents, forms completed, all people who are on title of your home, the person(s) you are adding PLUS someone to witness everything.

The staff at Alberta Land Titles is willing to act as a commissioner of oaths for you. The staff also reviews all of your paperwork to ensure everything is completed correctly.

Here’s the catch though …the witness you bring must be a third party, not involved in title addition or deletion.  This person signs as a witness to all documentation and the Alberta Land Titles staff commissions all paperwork for you.

This essentially sidesteps the need for paying for legal council.  Lawyers will draft up the paper work for you, and legally notarize everything.   I do see value in this service as paperwork might be complicated and the availability of a witness to meet you at the Land Titles office might not be something you wish to arrange.

Questions To Ask Before Adding Or Removing Someone From Title:

Here are some very common questions from people who call me regarding this matter:

1.  We share the Mortgage debt but I still want them off my title, now what?
2.  If they are removed from the title of my home, are they still on the Mortgage?
3.  If they are removed from the Mortgage, are they still on the title?
4.  How do I add someone to the Mortgage and title of my home?

In general, if removing someone from the title of your home, this will also require the removal of that same person from the Mortgage.  And this can be tricky to navigate on your own.  Please contact me directly so I can help you understand your Mortgage options.

Conclusion:

In conclusion, adding or removing someone from the title of your home should be thought through and considered carefully.  Whoever is on title of your home has a legal interest in the value.

Do you have a question about Real Estate you would like answered?  Email or call me to discuss and I might also include your question in a future blog post.  403-809-5447 or chad@canadamortgagedirect.com.  Or complete this form below:

Talk soon,

Chad Moore