Humber/Ontario Real Estate Course 1 Exam Practice

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What is the procedure once the seller's lawyer has prepared the transfer of land electronically?

The buyer signs it electronically
The seller sends it to the buyer’s lawyer
The broker approves it
The seller signs it electronically
The title company finalizes it
The lawyer must notify the real estate board

The correct answer is: The seller sends it to the buyer’s lawyer

Once the seller's lawyer has prepared the transfer of land electronically, the procedure typically involves the transfer being sent to the buyer's lawyer. This is because the buyer's lawyer needs to review and ensure that the transfer is in order before proceeding with the transfer of the property. The buyer's lawyer will then work with the buyer to coordinate the signing of the transfer to complete the transaction. It is crucial for the buyer's lawyer to validate the transfer to safeguard the buyer's interests and ensure a smooth transfer of the property.