This Protocol prescribes the conditions precedent to the issuance of a Solicitor's Opinion under the Western Law Societies Conveyancing Protocol by a Saskatchewan solicitor in a transaction involving existing single-family residential property having four or fewer units, including existing condominium units ("existing residential property"). The Solicitor's Opinion under the Western Law Societies Conveyancing Protocol will not apply to new construction, multi-family dwellings of greater than four units, commercial property transactions, or agricultural transactions. The Protocol is not a statement of substantive law and is to be read in the context of describing procedural conditions necessary for the issuance of a Solicitor's Opinion under the Western Law Societies Conveyancing Protocol in Saskatchewan.
The Solicitor's Opinion under the Western Law Societies Conveyancing Protocol is an initiative of the Western provinces belonging to the Federation of Law Societies. It is also referred to as the "Western Torrens Project". The Solicitor's Opinion under the Western Law Societies Conveyancing Protocol is designed to allow participating lawyers the opportunity to expedite the closing of existing residential property transactions. A properly issued Solicitor's Opinion under the Western Law Societies Conveyancing Protocol will:
(Such survey/encroachment issues are hereinafter referred to in this Protocol and the Protocol Checklist as a "Survey Defect"). The lawyer must not assume responsibility for any loss resulting from a known Survey Defect.
The insurance coverage will be subject to the condition that the lawyer has documented compliance with the Protocol Checklist for Saskatchewan, prior to the issuance of the Solicitor's Opinion under the Western Law Societies Conveyancing Protocol.
This Protocol sets out minimum standards for issuance of the Solicitor's Opinion under the Western Law Societies Conveyancing Protocol. The nature of any particular transaction and specific instructions received from a client will govern the lawyer's duty in every case. Lawyers are advised to obtain an acknowledgement of instructions from purchasers in every case.
The Protocol is for use only with existing residential property transactions and is available only to the solicitor acting for the purchaser of or owner refinancing existing residential property. The Saskatchewan Practice Checklist should be referred to in all residential conveyances. The minimum searches which will be required to be undertaken prior to the issuance of the Solicitor's Opinion under the Western Law Societies Conveyancing Protocol, are taken from the heading 3 "Searches", of the Residential Purchase and Sale Checklist, Real Estate section of the Saskatchewan Practice Checklists. These minimum searches and compliance with the following are required:
The purchaser's solicitor must notify the vendor's solicitor that the existing residential property transaction is to be closed using the Western Law Societies Conveyancing Protocol. This will allow the vendor to release funds on the closing date.
The purchaser's documents should be prepared in accordance with heading 5 "Prepare Purchaser's Documents" of the Residential Purchase and Sale Checklist, Real Estate section of the Saskatchewan Practice Checklists. Minimum standards will include compliance with heading 5 "Prepare Purchaser's Documents", items 3, 5, 6, 7, 8, 9.
In order to issue the Solicitor's Opinion under the Western Law Societies Conveyancing Protocol, the mortgage documents must be prepared in accordance with the mortgagee's instructions. The Solicitor's Opinion under the Western Law Societies Conveyancing Protocol will remove the requirement for the provision of some searches and reports, but documents must still be completed in accordance with the mortgagee's instructions. The Protocol Checklist identifies the recommended procedure for submission of documents to Information Services Corporation (ISC), and the recommended procedure for confirmation of registration.
The vendor's documents, including the transfer authorization, must be reasonably reviewed to determine if there are errors that must be corrected prior to submission to ISC. Such reasonable review will include:
Verify that insurance is in effect in accordance with the mortgagee's instructions by way of binder letter from an insurance agent. The mortgagee must be listed as the applicable loss payee to satisfy the mortgagee's instructions, and the policy must contain a standard mortgage clause approved by the Insurance Bureau of Canada. Carefully check to see if co-insurance is prohibited.
Prior to issuing the Solicitor's Opinion under the Western Law Societies Conveyancing Protocol, the responsible lawyer must complete and sign the certification portion of the prescribed Protocol Checklist.
Prior to issuing the Solicitor's Opinion under the Western Law Societies Conveyancing Protocol, the lawyer must carefully review the trust conditions and undertakings provided with the transfer authorization. The trust conditions must be such that they can be complied with, and the undertakings must be appropriate to conclude the transaction contracted for. The individual trust conditions and undertakings will depend on the particular transaction, but the trust conditions approved for use with the Western Law Societies Conveyancing Protocol must satisfy the minimum format for trust conditions.
Following execution of certification, forward the approved Solicitor's Opinion to the mortgagee.
