Identification Requirements – the Who, What, When, Where, and Why
You will be required to produce two pieces of valid identification (ID) when you attend our office to sign your real estate documents. The first piece of ID must be a valid photo ID such as a valid driver's license, valid passport or a landed immigrant card. The second piece of ID can be a social insurance card, credit card or similar. When you attend our office for your initial appointment, you will be asked to produce your ID, and our staff ...
Read More...Title Insurance – Essential or Unnecessary?
Title Insurance – Essential or Unnecessary? Recently, I acted for a client who wanted to forgo title insurance on his house purchase. While it is true that title insurance is not mandatory in Ontario, I did my best to dissuade him, because I firmly believe that title insurance is a relatively inexpensive way to achieve peace of mind for years to come. And what’s more valuable than that? What is title insurance an...
Read More...Pre-Construction Condos: the Good, the Bad and the Ugly (and What to Do About It)
The Good Clients often approach me for advice about pre-construction properties. Pre- construction condo purchases are popular with buyers for many reasons. For one thing, the pricing is usually much more competitive earlier on in the construction process; for another, buyers may get the chance to customize the home according to their own preferences. They can choose their tiles, flooring and cabinet finishes; they can ...
Read More...Section 116 – Sale of Canadian Property by a Non-Resident
Anyone who has ever made an offer to purchase a property in Canada has likely come across some strange wording in the standard form agreement. It goes something like this:
“The Seller represents and warrants to the Buyer that the Seller is not and oncompletion will not be a non-resident under the non-residency provisions of the Income Tax Act… and the seller shall deliver to the buyer a statutory declarationthat ... Read More...The Ins and Outs of the HST Rebate on New Homes
The HST rebate for new homes is available to anyone in Ontario who purchases a new home or condo from a builder (or who hires a builder to construct a new house), provided that certain criteria are met. If you qualify for the rebate, you may be entitled to get back up to $24,000 of the provincial taxes paid, and up to $6000 of the federal taxes paid.
Who is entitled to the HST rebate?
The HST rebate was introduced ... Read More...How the right real estate lawyer can save you money in the long run
For most people, buying a house represents the biggest investment they will ever make. It is not a decision that is taken lightly or often. Clearly, then, it makes sense to hire a lawyer to oversee the deal and protect the buyer’s interests. The importance of finding the right lawyer – someone who is well-versed in real estate law – cannot be overstated.
Here...
Read More...What is a will?
A will is a very flexible legal document that allows you to appoint a person or financial institution to manage your estate after your death, specify who you want to leave your assets to (your beneficiaries), and identify guardians for your minor children. A will also helps to ensure that your estate is distributed in accordance with your wishes, that your children will have the care and resources they need, and that your death doesn’t impo...
Read More...What Type of Will Should You Choose?
Formal Will
This is a typed document signed by you in the presence of at least two witnesses (who cannot be beneficiaries or spouses of beneficiaries). It is wise to have a formal will prepared by a lawyer – the cost is well worth it when you consider the potential problems you could create if improper wording is used or the document is not signed properly.
Holographic Will
This is a will prepared e...
Read More...Choosing an Estate Executor, Trustee or Liquidator
How to choose an executor for settling your estate
Administering an estate can be an enormous amount of work. For this reason, it is essential that you think carefully before you choose an executor (known as a “liquidator” in Quebec, and an “estate trustee” in Ontario). Your executor – or executors – will be responsible for dealing with all your legal and financial affairs, and for ensuring that the provisions of your will are ca... Read More...
