Did you know Alberta has passed a law where many legal real estate documents can be signed virtually? At ComFree, not only do we take away the stress and hassle of dealing with a realtor through the transaction process, but if you choose, our legal partners can also assist you in closing your real estate transaction virtually.
With all ComFree’s tools and support at your fingertips, we make real estate better by helping you sell simply and buy better. In today’s rapidly evolving digital world, the COVID-19 pandemic has brought about significant changes in conducting legal real estate business. Alberta’s Initial Response to the COVID-19 Pandemic, in May 2020, Alberta introduced temporary legislation allowing for some virtual real estate signings.
On February 24, 2021, the Alberta Government extended the allowance for the use of video conferencing, providing a more permanent signing option that is particularly helpful for out-of-province buyers and sellers. The Law Society of Alberta has established strict rules for remote document signing, including client identification, verification, and oversight. Before initiating a Zoom video meeting, your written consent will be obtained.
Lawyer Qualifications: Only active members of the Law Society of Alberta, who hold current valid insurance with the Alberta Lawyers Indemnity Association (ALIA), can witness, notarize, or commission documents. This ensures the qualifications and integrity of the legal professionals involved.
Document Verification: Both you and your real estate lawyer must have the same document in front of you during the Zoom video meeting. It is essential to cross-check and confirm that the document matches. Additionally, Land Titles require original “wet” signatures, meaning they will reject copies of signatures.
Precautions and Security: Real estate lawyers must take precautions to prevent fraud, lack of capacity, duress, theft, or other risks. Specific notes or amended jurats regarding video conferencing are required in the documents to address the virtual signing process. The requirements for virtual execution remain unchanged since the temporary legislation. The involved parties must be connected through an electronic method of communication that enables real-time visual, auditory, and interactive capabilities. Additionally, legal advice from a lawyer is essential to ensure compliance with the legal signing requirements governing estate planning documentation.
While virtual real estate signings and digital electronic signatures offer convenience, it is crucial to exercise due diligence and seek expert advice. Engaging with knowledgeable lawyers ensures compliance with legal requirements and proper execution of virtual real estate transactions. Additionally, obtaining explicit or implicit consent from signing parties helps demonstrate their intentions and safeguards against potential fraud. Learn more about our complete guide to buying real estate with ComFree.
The COVID-19 pandemic has led to significant changes in the legal landscape, allowing for virtual real estate signings, witnessing, and digital electronic signatures in Alberta. Zoom real estate signings offer a convenient and efficient alternative to traditional in-person transactions. With the approval of video conferencing by the Alberta Government and adherence to strict rules and procedures, you can streamline your home selling process and complete your real estate closing remotely. By following the necessary preparations and complying with the requirements, you can ensure a smooth and secure Zoom signing experience.
Seeking guidance from lawyers and having agreements reviewed can help ensure fairness, validity, and legal binding of virtual real estate transactions. As we navigate through these challenging times, virtual signing solutions continue to play a crucial role in conducting legal real estate business while prioritizing safety and adhering to regulations.
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* Only when the buyer comes direct, otherwise the seller may choose to negotiate a commission with the buyer’s agent.
