At a recent Course on Writing clauses, we talked about setting up the Solicitor’s Review and Approval Clause as a Condition Subsequent rather than a Condition Precedent. This was not …
Repaired Defects and Disclosure
(Ontario) Question: If it is something that has been fixed does it still need to be disclosed? Say a flooded basement? Answer: The Seller is under an obligation to disclose …
Rental Company’s Rights
When it comes to “fixtures”, a Rental Company’s rights are severely restricted. The Company brings along a hot water tank to the homeowner’s house. It is installed. The homeowner signs …
Principal Residence 12 months: You can Have Two!
The key words under the Income Tax Act would be “principal residence”. You can actually have two at the same time with a maximum of a 12 month overlap. So …
Multiple Rep: What not to Talk About
When dealing with multiple representation, What are the aspects you are not allowed to discuss with your buyer and seller clients ? Listing Agreement MULTIPLE REPRESENTATION: The Seller hereby acknowledges …
Don’t Give Away the Lamps By Accident
From time to time light fixtures present an issue as to whether or not they are included in a transaction. Most of the time, they are truly “fixtures”, unless they …
Force Majeure Clauses in Real Estate Transactions
The question arising frequently in discussions is whether “force majeure” is triggered in real estate transactions because of COVID -19 and/or a suddem market decrease as in 2017 and 2022. …
Commission Trust Account for Ontario Real Estate Brokerages
There is provision in the Real Estate and Business Brokers Act, 2002 for the establishment and maintenance of a Commission Trust Account. The matter of commission protection insurance is dealt …
Confirmation of Cooperation in a Multiple Representation
Need for Confidentiality Question: Since the Buyer’s agent is not technically signing the Confirmation of Cooperation (CCR) Form meaning that the commission section doesn’t get filled out, how would the …
Failure to Read the Contract is NOT an Excuse
Non Est Factum Defence The “non est factum” defence is a principle in law that a person may not be liable for their contract if they did not fully understand …