Hammurabi’s Code appears to have been published around 1754 BC in Mesopotamia. That was Babylonia in ancient times, now Bagdad in modern Iraq. It includes numerous references to barbarous acts, …
“Survive and not Merge” Wording in Ontario
Question: The warranty clause, in order to survive closing, would have to include an appropriate wording; e.g., This warranty shall survive and not merge on completion of the transaction but apply …
Going Unconditional in Ontario
Question: How do you firm up a deal and make it binding? Answer: Watch for the correct terminology. The Agreement was already “binding” and it was “firm”. However, it contained …
Disclosure of a Death in the House
Fundamental Difference Question: Do you have to disclose a death? What if it was a suicide? What if it was a murder? Answer: Sometimes you do and sometimes you don’t. …
Another Couple of Strange Schedule “B” Clauses
They keep coming up. People just don’t understand the law or are too cheap to retain a lawyer to draft up clauses for their Brokerage. Deposit “In the event no …
Commissions From Buyer on Defaulted Deal
Question: I was the Listing Agent and arranged for the sale of my client’s property in May with closing in late August. Buyer provided a $100k deposit. On the day …
Missing Dishwasher and the Principle of Indemnification
Question: If a sale closes and the dishwasher is missing from the kitchen, the buyer’s recourse is against the party with whom they had the contract, not the agent. This …
Furnace and Central Air: Chattels or Fixtures
Question: Should an owned furnace and central air conditioner into the deal? Do you list them as ‘chattels included’? Or do you just assume that if not listed as a …
Leak Discovered after Closing
Question: One of the walls in the basement was covered by some kind of furniture and home inspector did not want to move anything (said something about getting hurt or …
Seller’s Options Following a Defaulted Transaction
Buyer requests an extension Question: Buyer can’t close on time (needs another month) and has given a $15,000 deposit with their original offer. They have exhausted all resources in every …