This is OREA’s recently released summary and recommendations: “Proposal Enhanced Transparency and Disclosures for Latent Defects: Amend TRESA to introduce new rules regarding latent defects and disclosure obligations to ensure …
Auctioneers: Should they be Registered?
OREA says ‘yes” and that needs to change, they must be registered! But, why? They never have been and they don’t do that many transactions, and the deals that they …
Deposit Returned: Not Forfeited (EPRF Holdings v. Fergus Bloor)
Fergus Bloor (the Buyer) submitted a deposit in the amount of $350,000.00 on a $7 million purchase. That amounted to 5% of the purchase price. Cushman & Wakefield ULC, (“Cushman”) …
EPRF Holdings v. Fergus Bloor
This is an important case before the Ontario Superior Court. The matter was appealed and the Ontario Court of Appeal upheld the decision of the Motions Court Judge. The decision …
Permits Going to the Root of Title
This is an interesting case, recently released by the Ontario Court of Appeal covering several important issues related to building permits, title objections, title insurance and matters going to the …
Home Inspection Clause Revisions
Sometimes, the Buyer will attempt to use a Home Inspection clause as a right to back out of the deal. So, it might be wise to add the following: “Should …
Outstanding Encumbrances
The standard form OREA Agreement of Purchase and Sale covers institutional mortgages. However, oftentimes there are other liens etc. which should be handled in the same way. The following clause …
Registrant’s Disclosure (Sale): Who Signs?
OREA Form 161 Let’s start out with Bob Smith. He is a commercial real estate agent working for ABC Realty, and he wants to sell his house. He decides to …
Collecting on a Judgment
Question: I have a landlord client that has had a bad tenant (who has moved out now), didn’t pay rent, damaged the unit. My client has already gone through the …
Last Minute Liens: Remedies
Question: Our clients successfully closed on the sale of their home today, but unfortunately, their purchase could not go through due to serious issues with the seller’s property. It appears …
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