Here’s a summary of the decision in Taheripouresfahani v. Dormer Bond Inc.: BackgroundPlaintiffs, Mohammadali Taheripouresfahani and Mahnaz Dehghani Sanij, sought summary judgment to recover their deposit, damages, and punitive damages after …
Deposit Holders: Your Choices
If you are a Buyer, you may be nervous about having your deposit held by the Seller’s selected real estate Brokerage, that is the Listing Brokerage. Consider some alternatives: Any …
Deposit Clause: Lack of Trust in Listing Brokerage
There are two new Brokerages which are coming forward to replace iPRO, a Brokerage which appears to have stolen $11 million plus from its trust account. If you as the …
Deposit Returned: Not Forfeited (EPRF Holdings v. Fergus Bloor)
Fergus Bloor (the Buyer) submitted a deposit in the amount of $350,000.00 on a $7 million purchase. That amounted to 5% of the purchase price. Cushman & Wakefield ULC, (“Cushman”) …
EPRF Holdings v. Fergus Bloor
This is an important case before the Ontario Superior Court. The matter was appealed and the Ontario Court of Appeal upheld the decision of the Motions Court Judge. The decision …
Permits Going to the Root of Title
This is an interesting case, recently released by the Ontario Court of Appeal covering several important issues related to building permits, title objections, title insurance and matters going to the …
Commissions on Failed Closings
Question: What happens when a deal (buyer/seller) firm ups but in the end it didn’t close so you didn’t get paid your commission. Answer: Your entitlement to commission under the …
Seven Offers Submitted
Question: We had an agent show one of our listings, he said he has shown his client 20 properties and is going to put conditional Offers in on 7 of …
Agreement: Deposit Default Delivery Clause
Question: What about the following clause in Schedule “B” from the Listing Brokerage (not so much from the grammatical correctness standpoint). I am representing the Buyer. “This Offer is subject …
Deposit Holder and Interest
Have a look at the Deposit clause in the standard Form Agreement of Purchase and Sale: “………….by negotiable cheque payable to ……………………………………………………………………………………………………………. “Deposit Holder” to be held in trust pending …