It can be quite difficult to understand the concept of fee simple ownership when it comes to real property without looking at some of the history. We have to go …
Section 116 Income Tax Act Canada ~ Real Estate Sales by Non Residents
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 …
Should You get Title Insurance or a New Survey?
Actually, it shouldn’t be one or the other. It should be both. One of the problems is that title insurance was marketed as a cheaper alternative to a survey. …
If You Buy the House: Do you Get the Keys?
This is a simple enough question. If you ask people; 99% will reply that keys are a part of the house. In fact, they are part of the locking system …
Title Insurance: Is it Necessary?
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 …
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 …
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 …
Do the Fish go with the House?
Who cares? Really, this is a more complicated question than it might appear at first blush. Let’s assume you have ten 50 cent goldfish in a tank, does it …