Home > Blossary: Canadian Real Estate
Common Canadian real estate terms providing a basic understanding of the terminology used in residential real estate transactions in Canada.

Category: Business

26 Terms

Created by: mbourgaize

Number of Blossarys: 6

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Legal process by which the lender takes possession and ownership of a property when the borrower does not meet the mortgage obligations.

Domain: Real estate; Category: Residential

Amount that a lender will permit a borrower to use from his gross income in order to qualify for a loan for housing costs, including mortgage payment and taxes. The Total Debt Services Ratio (TDS) is ...

Domain: Real estate; Category: Residential

Process of transferring the seller's title to the buyer which indicates all the necessary steps to complete the transfer. A conveyancer is a lawyer or Notary Public responsible for the conveyance ...

Domain: Real estate; Category: Residential

First mortgage issued for up to seventy-five percent of the appraised or purchase price of the property, whichever is the lowest. Source: Vancouver Island Real Estate Board.

Domain: Real estate; Category: Residential

Shared ownership in a strata-titled property. Owners have title to individual units and a proportionate share in the common property. Source: Vancouver Island Real Estate Board.

Domain: Real estate; Category: Residential

Portions of a condominium development owned in common, or shared, by the unit owners, such as a swimming pool, exercise room, lobby. A strata fee is charged to the owner of every unit for the use of ...

Domain: Real estate; Category: Residential

Real estate transaction completion, when the parties involved agree that all legal and financial obligations have been met and the deed to the property is transferred from the seller to the buyer. ...

Domain: Real estate; Category: Residential

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