There is a procedure available in Ontario which is a very effective remedy. Oftentimes, the success of a lawsuit swings in the balance. Let’s assume that there is an Agreement …
Estate Liability For Purchase
Question: The husband signed an Agreement to purchase a property, but, he was killed in a car accident before closing. What happens now? Is his Estate liable? Answer: This is …
Downsizing for Seniors: Assembling the “TEAM”
We looked at the definition of “seniors” and concluded that we required two elements: 1) some kind of age related issue, and 2) a lack of independence. Otherwise, we are …
Downsizing for Seniors: The “Project”
This can be a difficult and challenging project. There are several issues to take into consideration: Assembling the Team, Finding a suitable location, Finding a Property within the Right Price …
Who is a Senior?
That’s an interesting question. There are Seniors and then, there are senior Seniors. I do appreciate that anyone over 55 can get a certain discount as they travel. That’s just …
Does the Seller Need a Mutual Release if the Deal Does not “Firm Up”?
Bob submits an Offer on Bill’s property for $920,000.00 with a $50,000.00 deposit, subject to two conditions, financing and inspection, both running 5 days. At the end of the 5 …
Fixtures Clause in the Agreement of Purchase and Sale
The “Fixtures” clause in the standard form OREA Agreement of Purchase and Sale (2016 version) reads as follows: 5. FIXTURES EXCLUDED:……………………………………………………………………………………… Fixtures are part of the real estate. They don’t …
Who Orders the Status Certificate?
Question: Whose responsibility is it to obtain the Status Certificate? The Buyer’s lawyer, the Seller, the Seller’s Agent, the Buyer’s agent. I just had one, where I thought that my …
Disclosure of Interest: Who do You Tell?
This would seemingly be a rather straightforward and simple question. Let’s look at it carefully. A registered real estate practitioner in Ontario is about to put in an Offer, but, …
30 Rules Relating to Deposits
Deposit Issues A deposit is not required to make a contract enforceable A deposit is a sign of good faith All deposits are non-refundable A refundable deposit must be specified …