Common use of Transfer of the Property Clause in Contracts

Transfer of the Property. 4.1. Upon the Purchaser making all payments set out herein, the Village shall provide to the Purchaser or Purchaser’s counsel a registrable Transfer of Land for the Property subject to such trust conditions as the Village’s solicitor deems appropriate. 4.2. The Village shall not be required to transfer title to the Property to the Purchaser unless and until all payments set out herein have been made by the Purchaser. 4.3. The Purchaser will provide the Village’s solicitor with a registrable Transfer Back for the Property. 4.4. The Village reserves the right to register any encumbrances, as required by the Village, prior to transfer of title of the Property to the Purchaser including any caveat with respect to this Agreement. 4.5. The sale of the Property shall be subject to the exceptions, conditions and reservations expressed in the original grant of land from the Crown or expressed or implied in the existing Certificate of Title and any and all Encumbrances registered against the certificate of title. For the purposes of this Agreement, an “Encumbrance” includes but is not limited to any encumbrance: a. restricting the development of the Property (including but not limited to building setbacks, height restrictions and parking restrictions), b. notifying prospective Purchasers and landowners in the vicinity regarding unique features of the Property or land in the vicinity of the Property, c. easements, utility rights-of-way and restrictive covenants, and d. encumbrances, liens or charges as may have been made or suffered by the Purchaser and provided however that the Village may provide the Purchaser together with the Transfer of Land an undertaking from its solicitor to discharge some or all of the non- permitted encumbrances which remain on title within a reasonable period of time after registration of the Transfer and payment of the Purchase Price. 4.6. The Purchaser acknowledges and agrees that it is solely the responsibility of the Purchaser to review, investigate and make inquiries into: