The deposit is stuck with the Trustee until BOTH parties direct the Trustee to send it somewhere. Usually, that would follow a Mutual Release. But, the key component is the …
Brian Madigan’s OFFER DOCUMENT SUMMARY
I have been requested to suggest a Form of document which would be sufficient for a Brokerage to hold instead of a copy of the actual Offer. This is in …
Robinson: Furnace and Pool Pump
We looked at Warranties and the doctrine of merger. Here’s a copy of a case that reviewed the situation in detail. Milton Small Claims Court Court File No. 386/14 …
What’s Wrong with the “Good Working Order” Clause (Chattels)?
A fairly standard and regular clause that has been used for years in the real estate business is as follows: The Seller represents and warrants that the chattels and fixtures …
The Doctrine of Merger and Some Solutions
The doctrine of merger applies to “executory” contracts. An executory contract is one that is completed at some future point in time. This applies to real estate transactions since the …
Searching Title: Requisitions and Objections Removal
What should be the normal periods? What’s fair and reasonable? What makes sense from the Buyer’s perspective? What makes sense from the Seller’s point of view? Let’s start out with …
New Funds for an Extended Closing Date
From time to time, the Seller agrees to extend the closing provided the Buyer agrees to pay an additional deposit. But, this time, the Seller keeps it if the deal …
Use the Correct “legal name”
You should really be using the person’s correct legal name, regardless of registration. With married women we do have two scenarios. Mary Jones acquired a property, got married, changed her …
Merger of Contract Provisions
Although it is the general rule that the acceptance of a deed is prima facie full execution of the agreement to convey, and preliminary agreements and understandings relating to the sale of …
An Opportunity to Increase “Professionalism” in the Real Estate Industry
The Supreme Court of Canada made some changes to the common law of contracts. These new changes will afford an opportunity to the real estate industry to increase their degree …