Can I transfer ownership of a pre-construction condo?
Not selling it but planning to transfer to one of my family members, is it possible to do that?
Feb 11th, 2019 9:33 pm
Feb 11th, 2019 10:12 pm
Yes, you would do an amendment with "Insert/Delete" clause that will be signed by all parties (you, the family member, the builder) and the title will be transferred to the family member.
Feb 11th, 2019 10:17 pm
Where can I acquire such amendment document? Directly from the builder or I need a lawyer to do that?
Feb 11th, 2019 10:27 pm
You can contact the builder and let them know that you'd like to transfer the name and they will explain you the process. Usually builders don't have an issue with this (sometimes they can be strict, or charge you legal fees, or ask for similar documentation of the family member as they did with you).
Feb 12th, 2019 1:59 pm
Just a heads-up, do it ASAP. Once you get closer to closing, builders may not do it or charge you $$$.
Feb 12th, 2019 5:02 pm
Feb 13th, 2019 1:42 am