Adding a New Party to the Deal (Ontario)

Question:

Is there a correct way to add a new party or additional party to a real estate deal?

Answer:

You can do this by:

1) a new Agreement,

2) an Amendment,

3) a two party Assignment,

4) a three party Assignment, or

5) a Direction.

Each method is a little different and the correct steps must be followed (and frequently, they are not) but they all work. There is not a right answer here, where the others are wrong.

Brian Madigan LL.B., Broker

www.OntarioRealEstateSource.com