I’m the listing agent for a restaurant business sale. The Seller secured the lease and fully renovated the unit using his personal savings without any mortgage financing several decades ago. …
Small Apartment Complexes
A number of clients will ask about small multi-unit apartments. Are they good investments? Do they make sense? What’s the cash flow? How do you manage tenants? And, more importantly, …
Terminating a Commercial Lease
In most situations the arrangements with respect to the termination of a commercial lease are contained in the Lease itself. However, there are many circumstances where no actual Lease is …
Mortgagees Must Take Possession “Peacefully”
The Ontario Court of Appeal reviewed the rules that apply to mortgagees who take possession of properties when their mortgage is in default in Zapfe Holdings Inc. v. 1923159 Ontario …
Should You Throw Out Old Insurance Policies?
In 2007, it was discovered that it was raining marble at the single best location for real estate in Canada, the intersection of King and Bay Streets in Toronto. Once …
Removal and Restoration Clause
This particular clause in a lease can be quite problematic. Ordinarily, you’d think that the Landlord would want to keep all those valuable improvements that were made by the Tenant. …
Avoid the Exit Tax Trap!
It’s bad enough to be finished with your lease, and have no equity, but what about paying thousands of dollars just to leave? This is an exit tax! In a …
Negotiate it in the Offer!
Leases That’s simple enough advice. It’s easy to follow. And, no one gets hurt. So, what’s the problem? No one wants to do it. It’s too costly, it’s too time …
“As is, where is” ~ What’s that?
Everybody I know seems to understand just exactly what this means. Myself, I really don’t have any idea, but “they” all seem to know. My only problem is that everyone …
Legal Issues Related to Improvements
There are indeed some very significant issues related to the determination of whether a chattel has become so affixed to the realty that it is no longer a chattel but …