In Ontario, permits are a crucial aspect of property purchases, especially if you plan to renovate, build, or make other significant changes to your new property. Understanding how permits can affect your property purchase is important for both buyers and investors to avoid unexpected costs, delays, or legal issues down the road. Whether you are located in Toronto, Vaughan or … Read More
Why Specificity in Your Purchase Agreement Could Save Your Deal (or Your Wallet)
In the world of real estate, what’s not written in your Agreement of Purchase and Sale (APS) can cost you. Whether you’re buying a home in Toronto, an investment property in Vaughan, or a commercial unit in Mississauga, vague or poorly defined conditions or amendments can lead to disputes, delays, or lost deposits. It is unbelievable the number of Agreements … Read More
Is Your Condo’s Reserve Fund Ready for the Future?
A reserve fund for a condominium in Ontario is a pool of money that is set aside by the condominium corporation to cover the cost of future major repairs, replacements, and maintenance of the common elements and assets of the building or complex. These common elements can include things like the roof, parking garage, elevators, HVAC systems, and the building’s … Read More
Looking to Cut Trees in Ontario? There are Certain Rules You Need to Know.
In Ontario, cutting trees is subject to various rules and regulations to protect the environment, preserve natural habitats, and ensure sustainable forestry practices. Whether you’re removing a tree on your own property or on public land, here’s a breakdown of what you need to know: 1. Private Property (Your Own Land) • No General Provincial Law for Cutting Trees on … Read More
Moving Into a New Construction Home
Moving into a new construction house in Ontario can be exciting, but it’s also important to take care of a few key things to ensure everything is set up properly and your new home is safe and comfortable. Here’s a checklist of things to do when moving into a new construction house: 1. Inspect the Home • Final Inspection: Before … Read More
Land Transfer Tax and How it Can Impact You
Land Transfer Tax (LTT) is a tax levied by provincial or territorial governments on the transfer of property ownership, typically when a property is bought or sold. The tax is calculated based on the property’s purchase price or its fair market value, whichever is higher. Here’s how it typically works: 1. When It’s Paid: LTT is usually paid when the … Read More
Going on title to a property with a parent and it is your matrimonial home? How Section 26 (1) of the Family Law Act could impact you.
Real estate law and family law often intersect in very interesting and sometimes unwanted ways. Imagine a situation where your parents own their property, and you marry and live in the property, and you go on title to it as part of your estate planning. What would happen if you passed away before your parent? Recently, I came across this … Read More
What is a “Status Certificate” in Condominium Purchases?
Many people are unaware that a status certificate is a very important document when looking to purchase a condominium unit. The status certificate will be prepared by the condominium corporation or by the property management if they service that building. The purpose of status certificates is to allow potential buyers of condo units to have as much information as possible … Read More
Cottage ownership and what you should know
Everyone wants a nice relaxing time at their cottage. To ensure the time at your cottage is stress free, consult a real estate lawyer to protect yourself from unexpected problems.