RECO Explanation This is the commentary from RECO: “Under TRESA, if the seller client directs, the registrant is permitted to share the content of competing written offers with every person …
Overlooked Property and New Second Marriage
Question: Present and Future time: when “mom”passes away, her recreational property in Ontario is to go to her two kids. This is what mom wants and has told her two …
TRESA Delay
1 April 2023 (Phase 2) could be delayed This is an annoucement from RECO on 10 March 2023: “Though amendments to the legislation are scheduled to take effect April 1, …
Disclosure of Related Party
Disclosure of Related Party under Code If you are a real estate agent and you are selling your OWN house, you have to tell the other side. This applies even …
Got the Taxes Wrong
In 2019, the tax roll of the residential property was first created, and so no tax levies were imposed on the Property until 2020. On July 2, 2019, the Sellers …
Construction Liens in Ontario
Construction Liens: 10% for 60 days The law with respect to construction liens has changed over time. There are holdback provisions, time periods and amounts. This was set out originally …
Toronto and GTA Markets in December 2022
GTA REALTORS® Release December Stats TORONTO, ONTARIO, January 5, 2023 “The Greater Toronto Area (GTA) housing market experienced a marked adjustment in 2022 compared to record levels in 2021. Existing affordability …
SOLUTION to Conflict between the Code and Fiduciary Duties
As previously discussed, we are going to have a conflict effective 1 April 2023 when the new TRESA Regulations come into effect. This is the new provision: “Disclosure of facts …
How Long Can You Provide Customer Service?
Some real estate Brokerages will have entered into Customer Service agreements with various parties. It was possible under REBBA, 2002, but not allowed under the new TRESA which comes into …
2023 Code of Ethics
In force 1 April 2023 ONTARIO REGULATION 365/22 made under the REAL ESTATE AND BUSINESS BROKERS ACT, 2002 Made: April 11, 2022Filed: April 19, 2022Published on e-Laws: April 20, 2022Printed …