In accordance with the provisions of Division D of the Income Tax Act, non residents are taxed upon the disposition of taxable Canadian property. The definition set forth in …
Seller Property Information Statement Updated and Revised
The common rule of thumb among the legal community is “don’t sign one”. That’s basically good advice, but it may be a little out of date. The basic SPIS document …
Contract Start Time
Question: Precisely, when does a contract start to run? When does the clause time actually start? Assume an offer is going on via fax. The Seller is in a different …
SPIS and the Entire Agreement Clause
In 2007, the purchasers Adam and Olga Soboczynski bought a house in London, Ontario from Don and Louise Beauchamp. They had owned the house since 2001 and had not experienced …
Two Reasons for the Deposit
There are actually two basic reasons for a deposit in a real estate transaction: 1) to constitute security for payment, and 2) to establish a pre-estimate of the damages in …
Condominium Ownership Explained
A condominium is a parcel of real estate. It is one single unit of a condominium corporation. In effect, it is one method of common ownership with others of a …
Proper Completion of Confirmation of Acceptance
Since we know that there is a problem signing the current version of the Confirmation of Acceptance, how should the statement be handled? It looks like you have the following …
Lawyer’s Approval: What Clause to Use?
You have already decided to include in an Offer “subject to lawyer’s approval”, but what particular clause do you want? Case law seems to suggest that in Ontario, a general …
Lawyer’s Approval: Legal Terms, Business Terms, or Both?
In a number of cases, a clause will be included in an Offer “subject to lawyer’s approval”. But, just exactly what does that mean? The answer, unfortunately is far from …
Good Title Clause
Assuming that you wish to bargain for “good title with the regular noted exceptions”, and move away from the obligation to accept “title insurance”, then here’s a clause for your …