You can’t close a deal without your lawyer doing a title search. How else will your lawyer know whether the property you want to buy still has an old mortgage on it that was never removed? What about a lien … Read More
Be Careful When Flipping That Condo
Be prepared to pay tax on all your profits if you decide you want to “flip” your new condo unit before you take possession. You may try to argue with CRA that the profit you made on the sale should … Read More
New Changes to the Land Transfer Tax for Non-Residents of Canada
Bill 165, Licensed Home Inspectors Act, 2016
Ontario first started discussing plans to license home inspectors back in 2013, when it assembled a panel of experts to draft a report. The panel made a number of recommendations, including that inspectors be required to pass a written exam … Read More
A Win For Testamentary Freedom
A 2016 Court of Appeal ruling in the Spence Estate case reinstated a testator’s will and is a good decision in favour of testamentary freedom. The lower court’s decision was troubling in the sense that it created uncertainty for lawyers … Read More
Another Reason For Title Insurance
A recent case from the Ontario Court of Appeal should make all real estate lawyers and their clients think twice about not getting title insurance on home purchases. In 2006, Paul and Stephanie MacDonald purchased a house in Toronto and, … Read More
Don’t Lose Your HST Rebate
New homes in Ontario are subject to HST. When the builder sets the price on a new home, the builder includes the HST as part of the purchase price. So on closing you don’t have to pay HST in addition … Read More
Why Do You Need A Will Part 1
Close to half of Canadians don’t have a will. Who will determine who gets their assets? Who will determine with whom their children will live? If you die without a will, the provincial government will decide how your assets will … Read More
Don’t Sign That Agreement Until Your Lawyer Checks It Out – Reason 6 – TARION (II)
Can builders substitute materials or make changes to plans and specifications to a new house without a purchaser’s permission? You may be surprised at the answer.
One of the reasons why buyers of new homes and condominiums choose to buy … Read More
Don’t Sign That Agreement Until Your Lawyer Checks It Out – Reason 5 – TARION (1)
Tarion Warranty Corporation is a private corporation that was established in 1976 to protect the rights of new home buyers and regulate new home builders and is responsible for administering the Ontario New Home Warranties Plan Act, which outlines the … Read More