(Ontario) Question: I have received mixed comments about filling in the “current use” section in the standard Form. Some say “fill it in”, others say “leave it blank, it’s the …
Seller Defaults on Closing Time
Seller Defaults on Closing Time; Buyer Deposit Returned While this situation may seem obvious, the matter went to the Ontario Court of Appeal for final determination. This wasn’t a straightforward …
Residency of an Ontario Corporation
The residency of an Ontario corporation can become quite complicated. Usually, it will be determined on the basis of the common law rules related to residency. That is usually the …
Non Refundable Deposits in Real Estate Deals Through Earned Payments
Let’s have a look at an “earned payment” and how this might work. We will first examine some of the standard provisions that apply to deposits. Deposit Clause in Agreement …
Court Changes Basic Contract Law: Consideration
The British Columbia Court of Appeal just changed the law of contracts on 18 May 2018. It dealt with the issue of “consideration” and appeared to get around a long …
Buyer’s Agent’s Sign
Question: Our office is on the listing side and sold a property for a home being built. They buyer’s agent, after closing but during construction, has posted his For Sale …
Future Estates and Life Estates
(Ontario) Before his death, Bill had written a Will in which he granted his wife Mary a life estate for the cottage property and a future estate for their son …
Financing Condition: and Two Agents for Same Client
Question: My Buyers have an accepted offer on their home conditional on acceptable financing. I am not the Listing Agent. Their Buyer is coming through with his contractor to determine …
Lack of Property Insurance
(Ontario) Question: My clients are closing soon on their property and they have been inquiring about insurance and they are getting rejected. This is an old end row house. There …
Calculating Dates for Financing
Question: If the Agreement of Purchase and Sale has accepted at 4pm on Monday and there is a financing condition for 5 banking days. Does the start of the 1st …