Adding Purchaser & Seller Information (BC)

Adding Purchaser & Seller Information (BC)

To add a purchaser or seller, navigate to the Basic screen.

Adding Purchaser/Transferee

To add a new Purchaser/Transferee, click the Edit button beside the Purchaser(s) field.

The Main Contact checkbox will show the client’s name on the Basic Information tab along with the entered contact information. In addition, the Ongoing Relationship checkbox will add the client into your firm’s database for future use.

The Registered Owner and Purchaser (Beneficial Owner) checkboxes impact many of the documents created by the system. It is important to complete these. The general rules are:
  1. Registered Owner appears on all registration documents – including Form A Transfer and Form B Mortgage.
  2. Purchaser (Beneficial Owner ) appears on all non-registration documents – including Statement of Adjustments, Authority to Pay, etc.
You can add ownership type by checking the Enter Ownership Type checkbox, pressing the [...] beside the field that appears. Select the appropriate ownership type from the pop-up that appears.

Adding Seller/Transferor

Adding a transferor is similar to adding a transferee. From the Basic Information tab, click the Edit button beside the Vendor(s) field. This will open the Seller Information popup, which looks similar to the Purchaser Information popup. Complete the information you know about the seller.

If you import the title search, you will have the option of automatically importing the seller name information from the title.

You can also add ownership type by checking the Enter Ownership Type checkbox, pressing the ellipsis beside the field that appears. Select the appropriate ownership type from the pop-up that appears.

You can also verify your Client's Identification by clicking on the Client ID button beside the Purchaser (in a Purchase File) or Vendor (in a Sale File). Check out this article for more information. 

Fractional Interest and Tenancy

The entering of Fractional Interest and Tenancy for Form A and B completion is handled by specifying the fractional interest and tenancy required in the Ownership Type. If requiring "Joint Tenants", choose Joint Tenants for the last person in the file. Meanwhile, if requiring "Tenants in Common", select for each person in the file.

After setting the type of ownership, select the PTT percentage ownership using the Edit % Ownership for PTT in the Property Transfer Tax section.

Specific Types of Purchasers and Sellers

There are instances that a transaction involves someone that is not a standard individual or corporation, such as an executor of a will.

Adding the Executor of a Will (or Estate Trustee)

When there is an estate selling a property, there are specific steps to follow, outlined below.
  1. Enter the Vendor screen and enter the individuals on the agreement (and title, if applicable).
  2. To identify the sale as an estate sale, check the Estate checkbox. The screen will update to show what is applicable.
  3. Enter or select the Capacity as Executor and type the executor's name into Executor Name.
Though it is uncommon for an estate to purchase or refinance a property, the above does work on the Purchaser and Borrower screens.


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