(Ontario) Question: An agent I am working with is reducing her commission to make the deal work. The Confirmation of Cooperation and Representation (CCR) that outlines the full amount so …
Stacked Deals: Why Pay for Both?
The Buyer runs into a little bit of difficulty and cannot close on the purchase. That’s fine, the market tumbled unexpectedly and they ran into difficulty. It’s reasonable to pay …
Spouse as Defined in the Family Law Act
The real problem with the term “spouse” is that there are actually two definitions, not one, but two. For the sake of simplicity, I will describe them as: Property spouse, …
Retrofit Clauses for Agreements
One very significant problem was the real estate industry would encourage the sale of a building with a secondary unit in an area zoned simply for single family units. There …
Complications with “Acceptance” of an Offer
When is an Offer “accepted”, that’s a crucial question. There are two steps with respect to acceptance of an Offer: Signing or executing the document, and Communicating to the other …
Be Sure to make Proper Use of Form 801
For a considerable period of time, there was a concern about “phantom offers” in Ontario. A Buyer is looking at a property and just as they are about to submit …
Calculating the Equalization Payment in Ontario
Question: After a few years marriage, John and Maria are divorcing. John brought in $20,000 and Maria brought in $50,000.The difference, $50,000-$20,000=$30,000 should be equalized during divorcing process and Maria …
Joint Tenancy: Statutory Termination
You might wonder about the statutory termination of a joint tenancy under the provisions of the Family Law Act. It is important to review the Act carefully in order to …
Inappropriate Use of “Representation” in Ontario
Question What about a “Mere Posting Brokerage” providing “representation” to the Seller? According to the salesperson, they say that they do it all the time, as in 90% of the …
Is it Appropriate for Two to Sign Confirmation of Acceptance?
Question: 1) is there an issue to have both sign ? 2) in this day and age of electronic signatures, must you route and order the signatures to only have …