In the world of real estate, whatβs 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
Thinking of Buying Pre-Construction in Toronto? Here is What You Need to Know
While buying a pre-construction property in Ontario can offer several benefits, there are also some potential downsides and risks that buyers should be aware of before making a purchase. Here are the key disadvantages: 1. Delayed Occupancy or Construction Delays β’ Delays in Completion: Pre-construction properties are subject to construction timelines, which may be delayed due to a variety of … Read More
Is Your Condoβs 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, hereβs a breakdown of what you need to know: 1. Private Property (Your Own Land) β’ No General Provincial Law for Cutting Trees on … Read More
Thinking of Dissolving Your Corporation? If it Owns Property, You Could Lose It.
In Ontario, if a corporation dissolves but still owns real estate that was not transferred to one of its directors or another party, the property escheats to the Crown. This means the government (specifically, the Ontario government) takes ownership of the property. Key Points: 1. Escheat to the Crown: Under the Escheats Act, 2015, when a dissolved corporation owns property, … Read More
In Condominium Ownership, What is a Special Assessment?
A special assessment for a condo owner in Ontario is a one-time extra charge imposed by the condominium corporation to cover unexpected or extraordinary expenses that go beyond what the regular monthly condo fees can cover. This typically happens when the condominiumβs reserve fund is insufficient to pay for major repairs, maintenance, or improvements that are necessary for the common … Read More
Should you get a Will? – The Key Differences between having one and not having one
In Ontario, the key differences between dying with a will (testate) and dying without a will (intestate) are related to how your estate is distributed, the process of handling your affairs, and who is in charge of managing your estate. Hereβs a breakdown of the differences: 1. Distribution of Assets β’ With a Will (Testate): o You get to decide … Read More
Real Estate and Golf Courses in Ontario
In Ontario, golf courses and real estate often intersect in interesting ways, offering a combination of scenic views, recreational amenities, and luxury living. There are several ways golf courses influence real estate in the province, whether itβs in the form of golf course communities, investment opportunities, or scenic properties that attract buyers looking for a lifestyle-oriented home. Here’s a deeper … Read More
How to Fight an Eviction
Fighting an eviction in Ontario can be a complex and stressful process, but there are ways to potentially challenge it if you believe it is unjust or if you have a valid reason to remain in the rental property. Here’s a step-by-step guide on how to fight an eviction in Ontario: 1. Understand the Reason for the Eviction β’ First, … 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