Can You Add Your Spouse to Title in Ontario?
Adding a spouse to title can be straightforward, but mortgage consent, land transfer tax and estate-planning consequences should be reviewed first.
Virtual law firm serving clients across Ontario
Real Estate · Buying a Home
A pre-approval is not a funding guarantee. Here is what still has to happen between an approval and the day your lawyer can actually close.
Your mortgage broker or bank representative has told you that they got a pre-approval from the Lender. Your purchase is moving forward, and you are planning your move. Why is your lawyer still asking about lender instructions, documents or outstanding conditions?
Mortgage approval and confirmation of mortgage funding are different stages. A pre-approval is not a funding guarantee. Even a signed mortgage commitment can contain conditions that still need attention before the transaction can proceed.
The more useful question is: “What remains outstanding, who is handling it, and when does it need to be resolved?”
The Financial Consumer Agency of Canada explains that pre-approval does not guarantee financing. Your lender may still need to review your proof of employment and income, the source of your down payment funds, and other conditions it has set.
Before treating financing as settled, ask your lender or mortgage professional what has actually been reviewed and what remains conditional.
Ontario’s Financial Services Regulatory Authority explains that a commitment letter sets out the loan terms, fees and closing conditions.
Read it with these questions in mind: What must you provide? What must the lender confirm? Are there conditions connected to the particular property? Ask for an explanation of anything unclear before signing.
“Ready to close” is used here as a practical description, not a separate legal certification. It means checking the remaining steps with the people responsible for them.
Your lender, mortgage professional and lawyer have different tasks. A useful progress update should identify the unfinished task and the person dealing with it. “The lawyer has the file” is less useful than “The lender is reviewing the last requested document.”
Before your lawyer can complete your mortgage, they need to receive instructions directly from your lender. These instructions outline the lender’s requirements, including verifying your identity, reviewing the property’s title, registering the mortgage, and arranging title insurance where required.
Even if you’ve received a mortgage approval, that doesn’t necessarily mean your lawyer has received everything needed to move forward with closing.
Sometimes, the lender’s instructions may contain conditions or requirements that need clarification. If your lawyer cannot meet a particular requirement, they may need to obtain the lender’s approval before proceeding.
As your closing date approaches, it’s worth checking with your lawyer to confirm whether the mortgage instructions have arrived and whether anything remains outstanding.
Not every delay requires action on your part. Sometimes, your lawyer is simply waiting for clarification or confirmation from the lender. Knowing what’s outstanding can help you understand where things stand and what, if anything, you need to do next.
FSRA explains that a lender validates the property’s value and may use an appraisal or another assessment method. An appraisal is not required in exactly the same way on every file.
Ask: “Has the lender completed its property review?” If a lower value changes the available financing, discuss the resulting funding gap promptly rather than assuming the purchase price determines the loan.
FSRA cautions that new debts, credit changes or changed documentation can affect the mortgage arrangement, potentially requiring renegotiation or cancellation.
Before taking on new financing or changing information already supplied, speak with your mortgage professional. Tell them promptly if your circumstances have changed.
Tell your lawyer and mortgage professional about amendments to the purchase agreement. Some lenders require changes such as unusual purchaser credits to be reported.
Avoid delays in your financing caused by last-minute discovery by a mortgage lender of a change in sale price. Always keep your lawyer and mortgage professional in the loop.
Not necessarily. Signing your mortgage documents is an important step, but it doesn’t mean your lender has released the mortgage funds.
In most cases, you’ll sign your documents with your lawyer before your closing date. Mortgage funds are generally scheduled for closing, provided the lender’s requirements and conditions have been satisfied. The timing can vary by lender and transaction.
Once the funds are received and everything is in order, your lawyer can proceed with completing the transaction, including registering the necessary documents and coordinating the release of keys.
Just because you’ve signed your documents doesn’t mean your mortgage has been funded or that your home is ready for you to move in. Your lawyer will confirm once the transaction has officially closed and the keys are available.
If you’re arranging movers or planning your move-in day, keep in mind that closing is a process, not a scheduled appointment with a guaranteed completion time.
Clear communication between the realtor, mortgage professional, and lawyer can make a significant difference in keeping a transaction on track.
As the closing date approaches, it’s important to confirm that any outstanding financing conditions have been addressed, the lender has received the necessary documents, and mortgage instructions have been sent to the lawyer.
If there are changes to the Agreement of Purchase and Sale, such as an amendment to the purchase price or closing date, make sure everyone involved is informed as soon as possible.
The goal is simple: keep everyone informed, address outstanding items early, and avoid unnecessary last-minute surprises that could affect closing.
A mortgage pre-approval is a great starting point, but there are still a few important steps before your home is ready to close. As your closing date approaches, use this checklist to help keep everything on track:
One final tip: don’t assume everything is ready simply because your mortgage has been approved or you’ve signed your documents. Staying in touch with your mortgage professional and lawyer can help you avoid last-minute surprises and enjoy a smoother closing experience.
\g<2>Planning an Ontario purchase? Amer Ali Law handles the legal closing across Ontario. Share your agreement, amendments and financing details early and we will explain the legal steps and identify anything that needs lender confirmation. Get in touch.
This article is general information about Ontario law and is not legal advice. Reading it does not create a lawyer-client relationship. Every transaction is different, and you should obtain advice about your own circumstances.
AAL Insights by Email
Get new AAL Insights articles, practical transaction guidance and important Ontario legal updates delivered to your inbox.
Keep Reading
Adding a spouse to title can be straightforward, but mortgage consent, land transfer tax and estate-planning consequences should be reviewed first.
When a builder misses a firm closing or occupancy date, Ontario buyers may have compensation rights. The notice rules and exceptions decide what is payable.
A requisition letter is part of the buyer lawyer’s title and closing due diligence, and timing drives what can be raised.
Get Started
Every transaction is different. Send us the details and our team can explain the next step.
