(Ontario) Question: Why does the Bank refuse a second person on Title? A is approved, but they won’t let B, the spouse on title because of credit concerns. Answer: You …
Unities In Joint Tenancy
(Ontario) There four unities in a Joint Tenancy. Unity of Interest: means equal sized units. So, two people half and half, three people, a third each, four people a quarter …
Co-Tenancy Continuing Liabilities in Ontario
Question: Would the liability of a co-tenant survive bankruptcy? Answer: Let’s say we have a contaminated property owned by A and B as co-tenants. There is a contamination spill and …
Mortgages and Charges
For as long as there was the individual ownership of property, there were people who couldn’t afford it. Basically, that meant that someone else had to lend money to the …
Cottages, Timeshares and Some Boats are Matrimonial Homes in Ontario
Question: Can a cottage or a timeshare be designated as a matrimonial home? Answer: Yes, both a cottage and a timeshare can be matrimonial homes. There can be numerous. Also, …
Must a Seller have Insurance on the Property?
Home Insurance Question: Does a Seller have to have Insurance on the Property? Answer: No, Here’s the provision as set forth in the Standard Form OREA Agreement of Purchase and …
Knob and Tube Found 8 Years after Closing (Ontario)
Question: A Seller just discovered following the Buyer’s Home Inspection that the property is filled with knob and tube wiring. This was supposed to have been removed by the original …
What About Bridge Financing?
Buyer Default – Consider Bridge Financing Using this a source, it’s either unsecured or secured. Unsecured is Best The Bank will provide the bridge financing that you need. If you …
Landlord and Tenant Liability for Trip and Fall (Ontario)
Question: Tenant is renting a main floor apartment, trips on steps leading to the front door and injures themselves and will be off work. Who has liability here? Answer: There …
Who Repairs the Wall when Pictures are Removed?
In this situation we will assume an Agreement of Purchase and Sale which is silent on the point. The Seller had a “picture wall” in the front hall. It ran …