Caveat On Property Agreement

14 septembre 2021

If the reservation is issued by a lawyer, a fee is levied for legal advice, preparation of the reservation and effective filing of the reservation with the Land Titles Office (normally USD 110). A reservation should be issued as soon as the interest in the property has been created. In the event of a delay in the submission of the reserve, there is a risk that a transaction could take place in respect of the immovable property, which would affect eligible interest. The risk on a case-by-case basis depends on the individual circumstances. Here are some examples of problems that could be solved by filing a reservation: some interests in land such as a buyer or tenant cannot be registered, so the reserve system creates a method of registering those interests without infringing on the ownership of the property. A reservation is a document submitted against a country title that prevents any action concerning that title until the interest of the interested party has not been taken into consideration. After registration, there remains a reservation that prevents the registration of transactions against the title until that is the case: the claimant has devised a proposed instrument of servitude for registration, claiming that it is in conformity with the clause set out in the agreement and that the reservation is no longer necessary. In this respect, the applicant considered that the water currently withdrawn by the respondent (on the basis of a hydraulic system put in place in the meantime) was the limit allowing the envisaged easement. . .