Let’s have a look at an actual real estate transaction and see what happens with the copies of the agreement.
Assume the following:
- Vendor: Robert Smith
- Spouse of Vendor: Mary Ann Castlemore
- Purchasers: William and Martha Jones
- Vendor’s agent: ABC Realty Inc.
- Vendor’s sales representative: Lorne Wycliffe
- Vendor’s lawyer: Bob Seemore
- Purchasers’ agent: XYZ Realty Inc.
- Purchasers’ sales representative: Harold Wilson
- Purchasers’ lawyer: C. J. Radcome
- Property: matrimonial home
With 2 originals, then there should be one for both sides to the deal. The Vendor gets a copy and the Purchasers get a copy of the original too.
As between the two purchasers, they can decide who gets the original and who gets the true copy.
Now, that we have 3 originals, the vendor will get one and the two purchasers will get the two other originals.
Once we have 4 copies, then we have an extra. That should go to Mary. She is a party to the contract. She signed the spousal consent.
She is to have the final original copy, before the brokerages and the lawyers.
Brian Madigan LL.B., Broker