Business Law & Corporate Law

Do we have Personal Real Estate Corporations or a Real Estate Professional Corporations in Ontario?

Simply put, the answer is "No".  Unlike other provinces, such as British Columbia, in Ontario Real Estates Salespersons or Brokers cannot self-incorporate as a Realtor and...

Buying or Selling a Home with an Oil Tank

What you need to be aware of when buying or selling a home with an oil tankOn June 28, 2001, the Ontario Legislature enacted the new...

A MIC or a Mortgage Investment Corporation: What are they and how do you start one?

With significant potential for favourable rates of return and previously instituted tax exemptions, Canadian Mortgage Investment Corporations (MIC’s) are increasingly becoming recognized as a low-risk method...

Professional Corporations: What are they and how are they different from any other corporation?

Prior to the end of 2001, professionals could not incorporate their practices except as allowed by the laws that regulated their specific profession (all compliant professional...

Corporate and Private Business | Business Lawyers

At Levy Zavet PC we offer a wide range of business consulting services including Corporate and Securities Law. The Levy Zavet team specializes in the matters...

Can a lender charge a mortgage pre-payment penalty under Power of Sale proceedings or once the mortgage term has matured, regardless if it is an Open or Closed Mortgage?

Under section 17 of the Mortgages Act, and pursuant to relevant case law the answer is “Yes” the lender can.  Subject to the wording in the...

Realtors; learn how to save a deal when spouses are feuding and being uncooperative over the sale of a property!

This article applies to legally married couples and not those in common-law arrangements.  The long and the short of it is that IF both spouses are...

CONSTRUCTION LAW UPDATE: The Meaning of Builder Under the Ontario New Home Warranty Plan Act

In Ontario, Tarion Warranty Corporation (“Tarion”) is responsible for administering the Ontario New Home Warranties Plan Act R.S.O. 1990, CHAPTER 0.31 (the “Act”) and is remedial,...

Wrongful Dismissal and the Importance of the Employment Contract

Employees who are wrongfully terminated may have recourse.  Suing for "Wrongful Dismissal" may allow the employee to recover some damages that were caused by the employer."Wrongful...

Breached Agreements of Purchase and Sale: Can I Recover My Losses?

Many Real Estate transactions wind up breaking down between the point where an Agreement of Purchase and Sale has been signed and the transaction is completed...