An interesting issue arose recently as to whether a hot tub should be included or excluded from a real estate transaction. In the case at hand, a hot tub which …
Fixtures Clause in the Agreement of Purchase and Sale
The “Fixtures” clause in the standard form OREA Agreement of Purchase and Sale (2016 version) reads as follows: 5. FIXTURES EXCLUDED:……………………………………………………………………………………… Fixtures are part of the real estate. They don’t …
Chattels Clause in the Agreement
One of the clauses that often gives rise to issues in the Agreement of Purchase and Sale, is the Chattels clause. Set out below is the standard form OREA chattels …
Central Vacuum System in Disrepair
Question: An Agreement of Purchase and Sale contains the following warranty: “all chattels and fixtures shall be in good working order of the closing date” A Professional Home Inspector delivers …
Collecting the Shortfall from the Borrowers
Business Financing: Recovering the Balance from the Restaurant Operators You financed the restaurant for a friend or relative, and now it’s run into financial difficulty. This could be due to …
Liquidating the Restaurant
You financed the restaurant for a friend or relative, and now it’s run into financial difficulty. This could be due to a variety of reasons. At this point, the reason …
Selling the Restaurant
You financed the restaurant for a friend or relative, and now it’s run into financial difficulty. This could be due to a variety of reasons. Maybe the owner didn’t have …
Operating the Restaurant Temporarily
You financed the restaurant for a friend or relative, and now it’s run into financial difficulty. This could be due to a variety of reasons. Maybe the owner didn’t have …
Business Financing: Operating the Restaurant
You financed the restaurant for a friend or relative, and now it’s run into financial difficulty. This is part 2. Last time we assumed that your friend was co-operative, so …
Business Financing: the Restaurant
Let’s assume that you have been persuaded to finance a restaurant for a friend or relative. You went to a lawyer who recommended that you obtain the maximum security possible …