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Release from the financial institutional, unknown but required

Have you just sold your house? You think the transaction will be done without fees? In Québec, the buyer chooses the notary. They will also assume the fees for drafting the mortgage deed as well as both parties’ act of sale. However, the notary will charge fees, only to you, if you have a mortgage on the property.  These fees are not part of the fees paid by the buyer. They are costs associated with the acquittance and release from your financial institution. This document officiates the reimbursement of your debt and releases you from your obligation. Since it arises from your mortgage which was used to acquire your property, you are responsible for this honorarium and disbursement invoice. Ask your notary so as to plan for this expense.

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Did you know…

More than 25 years ago, in an attempt to intervene in urgent immigration files, the federal government introduced on-call services on a voluntary basis by it jurist employees. These jurists were allowed to enroll in the on-call services, which would ensure their availability and their presence after work hours as well as weekends. Their usual compensation for this service would be supplemental hours or paid leave for their on-call hours served.


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