| There are times when the Seller or Buyer
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| | this case the beneficial owner (the
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| to a real estate transaction may appoint
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| | person for whom the property is being
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| someone to act on their respective behalf
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| | held in trust) may sign the contract.If
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| and even to sign agreements relating to
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| | the contract is signed by the beneficial
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| the Contract of Purchase and Sale as
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| | owner, there will usually be a
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| their agents, thereby meeting the
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| | recognition of the trust in the contract
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| requirements at law that all dealings
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| | {for example, John Doe in trust for Mary
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| involving land or interests in land be in
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| | Black). As well, there will be normally a
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| writing. However, it is always mandatory
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| | covenant by the Buyer to accept a
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| (in British Columbia) that the agent
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| | transfer from the registered owner and
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| obtain specific instructions prior to
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| | not the beneficial owner who signs the
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| signing any documents on behalf of the
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| | contract. This covenant acts as a waiver
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| parties to a transaction. This is all the
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| | of section 6 of the Property Law Act (in
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| more true when a Realtor is authorized to
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| | British Columbia), which provides that
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| sign on behalf of one of the parties.The
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| | the person who signs the contract as
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| written authorization must set out the
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| | Seller is the person who must sign the
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| exact terms, conditions and scope under
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| | transfer. There may be warranties or
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| which the agent is authorized to sign. A
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| | representations of the beneficial owner,
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| telegram, letter or fax may be used for
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| | of the registered owner, of both, or
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| this purpose, but it must be received by
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| | limited warranties and representations of
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| the agent before he/she attempts to act
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| | each.In other circumstances the
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| on the Seller's or Buyer's behalf. Agents
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| | registered owner may wish to structure
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| must avoid signing documents on behalf of
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| | the transaction as a sale of shares
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| anyone based on verbal, telephone or
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| | rather than a sale of real property. Such
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| e-mail instructions. Furthermore,
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| | sale may involve the shares of the
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| evidence of written authority granted by
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| | registered owner or the shares of the
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| one party to a real estate transaction
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| | beneficial owner of the interest in
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| must be attached to any and all documents
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| | land.It is always advisable to deal with
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| where the agent has signed on behalf of
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| | legal or beneficial owners after a
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| the party.Powers Of AttorneyWhere it is
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| | thorough title search has been executed.
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| desirable or necessary to rely on a Power
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| | For example, in a typical residential
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| of Attorney, it is widely recommended
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| | real estate transaction problems can
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| that it be granted to someone in
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| | arise when a Contract of Purchase and
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| accordance with the advices of a lawyer.
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| | Sale is drafted with the Seller when, in
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| When a person who has been granted a
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| | fact, the property is legally owned by
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| Power of Attorney signs a contract
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| | some other person or company. In this
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| involving land or an interest in land on
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| | particular case the Seller may have to
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| behalf of the person granting the Power
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| | transfer the subject property into his or
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| of Attorney, the correct way for the
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| | her own name to comply with section 6 of
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| contract to be completed is as shown on
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| | the Property Law Act (a costly
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| the following example:"Mary Smith grants
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| | transaction involving, among other
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| a Power of Attorney to Ted Lee to enter
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| | things, payment of taxes), or face the
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| into a contract for the sale of her
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| | possibility that the Buyer may legally
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| property located at [address in
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| | refuse to complete the transaction if
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| full]".Ted Lee, then, would sign both the
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| | presented with a transfer from the Seller
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| Listing Agreement and the Contract of
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| | as shown on the contract, rather than the
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| Purchase and Sale using the following
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| | registered owner as shown on title.Buying
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| statement:"Mary Smith, by her attorney in
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| | From An EstateA Buyer purchasing from an
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| fact" followed immediately by Ted Lee's
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| | estate must be assured that the title
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| signature.Furthermore, a transfer of
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| | must pass to him or her without legal
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| title executed under a Power of Attorney
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| | problems, and that all parties who can
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| to be filed at the Land Title Office (in
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| | claim against the estate have had their
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| British Columbia) at the time of
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| | opportunity to do so. If Letters Probate
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| completion requires the Power of Attorney
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| | have been granted already and the Wills
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| to be drafted in proper form. This is so,
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| | Variation Act (in British Columbia) has
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| because different Power of Attorneys can
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| | been complied with, no additional clause
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| be granted by one person to another.
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| | is required. If, however, these steps
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| While the form of such authority may
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| | have not been concluded a clause similar
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| authorize a party to sign contracts and
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| | to the one that follows should be
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| certain other documents for another
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| | incorporated into the Contract of
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| party, it may not be sufficient for Land
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| | Purchase and Sale:"Subject to the Seller
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| Title registration purposes. Therefore,
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| | receiving the following by [date]:1) copy
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| whenever a Power of Attorney is
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| | of Letters Probate; and 2) assurance that
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| contemplated or utilized in a trade
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| | everyone entitled to claim under the
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| involving real estate, the parties ought
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| | Wills Variation Act has waived or
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| to seek the advices of legal counsel as
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| | released his or her claim against the
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| soon as possible to ensure the form of
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| | subject property". An example of a proper
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| the Power of Attorney being used is valid
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| | way for an executor to sign a contract on
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| and is acceptable for registration. It
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| | behalf of the estate is:"John Smith,
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| should be also noted that the Power of
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| | Executor for the estate of (name of the
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| Attorney may expire after a specific time
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| | deceased).In some cases there may be a
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| or be invalid for other reasons.
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| | delay in obtaining Letters Probate.Should
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| Therefore the advices of a legal
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| | that occur, the Buyer may agree to an
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| practitioner specializing in real estate
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| | extension to allow the Executor
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| transactions are always the best
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| | additional time to obtain the Letters
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| venue.Dealing With Legal Or Beneficial
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| | Probate.Luigi FrascatiLuigi Frascati is a
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| OwnersThe person or legal entity shown as
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| | Real Estate Agent based in Vancouver,
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| the registered owner of a real property
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| | British Columbia. He holds a Bachelor
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| on the Certificate of Title at the Land
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| | Degree in Economics and maintains a
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| Title Office may not be the person or
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| | weblog entitled the Real Estate Chronicle
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| entity that signs the Contract of
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| | where you can find the full collection of
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| Purchase and Sale as Seller of that
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| | his articles on Real Estate Economics and
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| particular property. This is a relatively
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| | Finance. Luigi is associated with the
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| common occurrence in the real estate
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| | Sutton Group, the largest real estate
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| trade. For a variety of reasons one
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| | organization in Canada, and is based with
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| entity may appear as the registered
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| | Sutton-Centre Realty in Burnaby, BC.Luigi
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| owner, while another entity may sign the
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| | is very proud to be an EzineArticles
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| Contract of Purchase and Sale as the
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| | Platinum Expert Author. Your rating at
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| Seller. This may happen, for example, if
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| | the footer of this Article is very much
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| the registered owner holds the subject
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| | appreciated. Thank you.
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| property in trust for another entity. In
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