Another case for the Ontario Court of Appeal to consider respecting the deposit forfeiture in a contract. The Court concluded that even though there were two additional plaintiffs who suffered …
Real Estate Contracts: Right of Assignment
The peculiar aspect of executory contracts has a significant effect on the basic common law doctrine. Ordinarily, contracts are assignable by the buyer without the seller’s consent. However, that general …
Matrimonial Home Designations in Ontario
Properties that qualify as matrimonial homes should ordinarily be presumed to be such unless there is good evidence to the contrary. Although it occurs infrequently, questions often arise about matrimonial …
Spousal Consent: Implied or Informed?
Now, we all know that the legal spouse must provide a consent under the Family Law Act in respect to the sale or mortgage of a matrimonial home. The real …
Fire Damage: Buyer’s Options
What happens if the house burns down before closing? Obviously, this leaves both the seller and the buyer in a quandary in terms of completion. So, assuming that there has …
Warning Clauses in Agreements by Realtors
Within the last few years it has become increasingly common for realtors to place warnings within the terms of the agreement of purchase and sale. Precedents for such clauses abound, …
Unpaid Deposits and the Contract
What happens if the purchaser doesn’t pay the deposit? Can the vendor get out of the deal? Can the vendor simply sell the property to someone else? The Courts look …
Throw More Money into the Deal, But Not as a Deposit
Throw More Money into the Deal, But Not as a Deposit Question: I am acting for a Buyer, and I would like to demonstrate some additional good faith and hopefully …
Irrevocable Clause ~ Improper Use
The irrevocable clause in an agreement of purchase and sale is simply the time limit imposed upon the other party to respond. The major criticisms of realtors concerning the use …
Seller: Accept, Reject or Counter Offer
Most people seem to know that a Seller upon the presentation of an Offer, may: 1) accept the Offer,2) reject the Offer, or3) counter the Offer. Actually, when it comes …