Affidavit for Reduced Fee Transaction
I recently gave a client a real estate quote for transferring title from the spouse's sole name into joint names. I was surprised when the client said that another firm had quoted three times as much for Land Titles transfer fees.
When transferring title and one of the names on title remains the same, Land Titles will usually charge one third the standard fee. This happens often when parties separate and one spouse comes off the title and the other remains. Another example is when one person is on title and adds the spouse, for example, to qualify for a higher mortgage amount on a refinance.
This does not apply to an application to transfer to surviving joint tenants because the fees for that are already greatly reduced.
