A survivorship application is a legal process that helps individuals navigate property rights after a loved one has passed away. This application can only be completed within Ontario where property is held by two or more individuals, typically spouses, as “joint tenants” when one of them passes away. The surviving joint tenant(s) must initiate a survivorship application to transfer the deceased’s share of the property to the surviving owner(s).
The Process:
(1) Obtaining the Death Certificate: The first step in the survivorship application process is obtaining the Death Certificate of the deceased joint tenant. This document serves as official proof of death and is required for initiating the application.
(2) Gathering Necessary Documentation: The surviving joint tenant(s) must gather relevant documentation including, but limited to, the property address of the joint property and personal ID for the remaining joint tenant(s).
(3) Completing the Application Form: Ontario’s Land Titles Act governs survivorship applications, and specific forms must be completed and submitted to the Land Registry Office. Once this application is completed with all the information, documents and fees needed by your lawyer, the Land Registry Office will review the application. Upon successful review, the survivorship application will be processed, and the property title will be updated to reflect the change in ownership.
Things to Consider:
(a) Tax Implications: It’s essential to consider any potential tax implications associated with the transfer of property ownership, including capital gains tax or land transfer tax. Consulting with a tax professional can provide valuable insights into these matters.
(b) Communication: Effective communication among all parties involved, including family members and legal representatives, is crucial throughout the survivorship application process. Clear and open communication can help prevent misunderstandings and facilitate a smoother transition.
More information? We’re here to help – [email protected] This WARDS LAWYERS PC publication is for general information only. It is not legal advice, nor is it intended to be. Specific or more information may be necessary before advice could be provided for your particular circumstances.
