Find online a listing of commercial or industrial (not residential) real estate (land or land plus...

Question

Find online a listing of commercial or industrial (not residential) real estate (land or land plus building) for sale in Canada.Do not use the sale of a business unless the business includes land or land plus building—which is owned (not leased) by the business. Use a freely accessible MLS site, such asRealtor.ca. Read the listings and any linked information carefully, and then copy the link of that listing and paste it in the beginning of your submission.

Assume that as a prospective purchaser:

Your plan is to open a unique business that is quite different from anything that has been carried on in the premises before and which may require rezoning.

You will rely on mortgage financing to complete the purchase, which you have not yet obtained.

Arethere any precautions you would taketo investigate the property? Explain what they might be and why they would be done. How are the steps to be taken affected by the location of the property in Canada?

If you decided to proceed, what special terms would you want added to the agreement of purchase and sale? Explain their purpose and function.

Assuming everything goes well, what steps would be taken to close the sale? How are the steps to be taken and the documents used affected by the location of the property in Canada?

Structure your answer following the Marking Rubric below.

Marking Rubric

	Marking Criteria	Mark
1.	Provides a working link to a listing of a commercial or industrial property for sale in Canada.	/10
2.	Identifies the location of the property and explains why and how this matters for the preparatory steps to be taken in a real estate transaction in Canada in relation to the two systems of land law found in Canada.	/15
3.	Identifies typical concerns for a purchaser having regard for the proposed change of use and any particularities of the property in question, and explains the precautions a prospective purchaser would take as a result, applying the effect of the location of the property where relevant.	/25
4.	Based on the facts given about the purchaser and their situation, identifies one special term to be put in the agreement for sale and explains its purpose and function.	/10
5.	Based on the facts given about the purchaser and their intentions, identifies another special term to be put in the agreement for sale and explains its purpose and function.	/10
6.	Explains what consequences the location of the property has for the process of transferring title at the conclusion of the transaction.	/10
7.	Lists and explains the appropriate steps to take in closing the sale.	/20
	Total	/100

lgst-369-c9-unit-8-overview-0ffam20b.pdf

Neha · Accepted Answer

We are a business unique in its operations. We are planning on rezoning. We are planning to get a property on mortgage finance in Canada. We have not yet received the mortgage but soon are expecting the same. Following are the parameters we have analyzed the property. We have also curate a list of properties we would like to explore and then decide the one amongst all. As mentioned before we are a unique business and the property is to be taken on mortgage finance. But since we need the property for rezoning and are an important part of our business, we want to take all the required precautions. We need to analyze all the legalities and regulatory requirements to get a property in Canada. We do not wish to face ay issues in the future. We have analyzed the properties mentioned in the lists on the basis of the location, real estate system, and special terms on the agreement and the closing requirement of the agreement. We want to the process to be easy and completely legalized and regularised. Following is the brief account of the analysis we have taken and the points we have analyzed all the properties on. We wish to take the property on mortgage and wish to own the same once the mortgages is over.
(1) Link of the list of properties (industrial) in Canada:-
https://www.realtor.ca/map#ZoomLevel=3&Center=58.695434%2C-96.000000&LatitudeMax=73.83473&LongitudeMax=-13.03125&LatitudeMin=32.13133&LongitudeMin=-178.96875&Sort=6-D&PropertyTypeGroupID=2&PropertySearchTypeId=10&TransactionTypeId=2&Currency=CAD
(2) Location and Systems of land law
Canada uses two systems for registration of land. One is Registry system (or deeds registration system) and other one is Land titles system (or Torrens system). The location of the property matters because in Maritime Provinces and parts of Ontario and Manitoba Registry system (or deeds registration system) works. And in Western provinces and parts of Ontario and Manitoba Land titles system (or Torrens system) works. IT is important to know the location of the property, to know which system of law will be applicable on the property. In Registry system (or deeds registration system), one can permit others for the access of chain of title. Chain of title is basically a document that would showcase the list or series of transfers the property has gone through from one owner to another. The Registry system (or deeds registration system) also provide users with a chance to evaluate the documents. The Land titles system (or Torrens system) however, is applicable in Western provinces and parts of Ontario and Manitoba and doesn’t provide any such benefits like in Registry system (or deeds registration system).
(3) Property use and particularities’, and, precautions with regards to location
There can be 2 types of estates:-
	Estates 
(right to possession)
	Non-possessory interests 
(rights not involving possession)
Estate Interest is the right of possession over the property. The rights are of 3 types:-
· Fee simple estate  
· Life estate  
· Leasehold estate
Fee simple estate is the unlimited right over the property.

Find online a listing of commercial or industrial (not residential) real estate (land or land plus building) for sale in Canada.Do not use the sale of a business unless the business includes land or...

Marking Rubric

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