That’s a good question. Prior to 1997, there was no commonly available title insurance in Ontario and yet it was the norm in the United States. Solicitor’s Opinion Traditionally, purchasers …
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 …
Real Estate Opportunities for Entrepreneurs
One of the best opportunities for investment is owning your own building. This is a great advantage for small business entrepreneurs. If you have a location for your business that …
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 …
Toronto’s Taxes ~ Too High or not High Enough?
Over the last few days, we have looked at the question of the Toronto Land Transfer Tax. It is a tax which exists only in Toronto and not in any …
Toronto Land Transfer Taxes
You are probably aware that Toronto has its own Land Transfer Tax. This is in addition to the regular Provincial Land Transfer tax which applies throughout the Province. This new …
Land Transfer Taxes in Ontario
In Ontario, there is a land transfer tax which is imposed when transfers of land take place. A key concept is the actual transfer of land. So, the registration of …
Mortgage Fraud and Oklahoma Offers
What is an Oklahoma Offer! Actually, it’s a simple form of real estate fraud. There are variations depending upon how many parties are involved and who is the intended …