(Claim it or Lose it?) The federal government has proposed changes to both mortgage qualification rules and the reporting of the disposition of principal residences under the Income Tax Act. …
Failure to Register Transfer of Title From an Estate (Ontario)
Question: I am just about to list a house. There are three owners and they are all willing to sign. However, on checking with the Registry Office, there are still …
Spousal Intestacy
If a husband and wife are married with two kids and the husband who is the only one on title only passes away, what happens, if there is no Will?, …
Capital Gain on Townhouse
A young man owns a property 50/50 with a friend until he meets his girlfriend and wants to settle down. Facts: 1- young man A, has a townhouse with his …
Investment Real Estate in Ontario’s Cottage Country
I think that it is important for investors to have a “waterfront property”. That’s where the long term value will be in rural and vacation areas. In terms of value: …
Seller wants to Close but Stay in Possession for Two Weeks
Question: For a variety of reasons we have a situation where the Seller needs to close on the house sale, so that they can purchase their smaller property. Neither have …
Husband’s Right to the House after Wife’s Passing
Question: Husband and wife live in home. Wife is the only one on title. Wife passes away. Does home automatically transfer ownership or does it have to be willed? Answer: …
Downsizing for Seniors: Assembling the “TEAM”
We looked at the definition of “seniors” and concluded that we required two elements: 1) some kind of age related issue, and 2) a lack of independence. Otherwise, we are …
Downsizing for Seniors: The “Project”
This can be a difficult and challenging project. There are several issues to take into consideration: Assembling the Team, Finding a suitable location, Finding a Property within the Right Price …
Who is a Senior?
That’s an interesting question. There are Seniors and then, there are senior Seniors. I do appreciate that anyone over 55 can get a certain discount as they travel. That’s just …