Changing company name - do you have to change assets prior to selling?

I have recently changed the name of my corporation (required by the College of Physicians as the other owner retired). I have 3 properties that have the former name on the ownership papers. Do I have to apply for a name change on them prior to selling or can I just prove that the name is changed with the new documentation? Thanks!

Asked 6 months ago in British Columbia
Categories: Real Estate  Business Law

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Shira Kalfa

Answer by Shira Kalfa

Not VerifiedOntario lawyer

It is not necessary nor are you required to change title ownership to reflect the new name of the corporation. When changing a corporate name by filing Articles of Amendment, all other corporate matters remain the same and so this does not impact your title ownership. Your Minute Book should have a real property registry listing the real property registered to its title (as required since 2017); this is sufficient to indicate ownership together with the Parcel Register. However, if you wish, you may choose to have a real estate lawyer file a notation on the Parcel Register indicating the new name of the corporation. This is suggested but is not required. 

Posted 6 months ago

Shira Kalfa is a founding partner of Kalfa Law, a business & tax law firm in Toronto. As the lead solicitor at Kalfa Law, Shiras' practice is focused on:

Corporate law including incorporation, joint ventures, partnership agreements, shareholder agreements and corporate restructuring
• Commercial law including asset and share purchase and sale transactions, contract drafting and review and financing
Tax law & tax planning
Learn more about Kalfa Law here
Call Shira at: 416-631-7227
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Please note that this is for informational purposes only and does not constitute legal advice to you. Legal advice pertaining to your particular situation can only be provided by a lawyer who has met with you to obtain all pertinent background information necessary to give you a formal legal opinion. For formal legal advice, hire a lawyer (many give a free first consultation). Contact Shira Kalfa, or search the Lawyer Directory.

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