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21
Nov

Estate Planning for Serious Illnesses

Everyone should consider estate planning regardless of their health status as it relieves their loved ones of the burden of determining what they would have wanted should they become incapacitated or pass away. But if you are living with a severe illness, the need for estate planning can seem even more urgent. Beyond writing your will – which is also […]

12
Nov

Can a lawyer act for both the lender and borrower?

In most conventional cases where the mortgage is not a “private” mortgage or loan transaction, there are no hard rules rather than good judgement and a lawyer’s duty to ensure that both the lender and borrower are adequately represented (not just independently advised) and aren’t materially prejudiced by any inherit conflict.  Some business considerations may include if the lender or […]

18
Oct

How to Divide Assets and Debts in a Divorce

When a relationship ends, one of the most common steps that couples struggle with is the division of property and debts. Generally speaking, each partner keeps what they brought into the marriage, but everything – both assets and debts – accumulated during the marriage splits equally. But this simple rule doesn’t mean this division is always simple. Here are a […]

20
Sep

What to discuss with your real estate lawyer when buying a condo

When purchasing real estate, the help of an experienced real estate lawyer can be invaluable. But if you are purchasing a condo, there are some notable differences compared to buying a single-family home. While some aspects, such as the Agreement of Purchase and Sale, will be more or less the same, there are other legal aspects that you will want […]

9
Aug

What to Know About Buying a Foreclosed Home in Ontario?

When you’re looking to buy a home, you may often come across a home for sale that is under foreclosure. These properties are usually identified by being listed at a significantly lower price than typical market prices, which will often catch potential home buyers’ attention. While some might jump at the chance to get a discount on a home, others […]

9
Aug

What is Land Transfer Tax and How Do I Calculate How Much I Owe?

As the famous saying goes – ‘Nothing is certain except death and taxes.’ When purchasing or selling a real estate property in Canada, you must consider several closing costs, including land transfer tax. In this article, we discuss how it is calculated and when tax exemptions are available. What exactly is the land transfer tax? When buying a property in […]

22
Jul

Understanding Delayed Occupancy Compensation

In Ontario, once qualified for enrollment with Tarion, a condo developer can initially set its own tentative and outside occupancy dates for a new condo development. Once these dates are illustrated in the Statement of Critical Dates forming part of the Tarion Addendum forms appended to the developer’s agreements of purchase and sale, the condo developer must abide by strict […]

11
Jul

Different Types of Power of Attorney in Ontario

A power of attorney is a legal document that is usually drawn up at the same time that you make your will. But where a will outlines what your wishes are after your death, a power of attorney names one or persons who will be given the authority to make decisions for you while you are alive in the event […]

24
May

5 Important Questions to Ask Your Business Lawyer

Whether you’re a first-time entrepreneur or have plenty of experience running businesses for years, you still need an experienced business lawyer to guide you. Every business is different, and lawyers have the legal knowledge and understanding to identify and minimize risks, guide you through setting up a strong foundation and ensure all procedures are taken care of professionally. Here are […]

3
May

The Best Way to Transfer Real Estate Property to Family

Buying and selling real estate has always been tedious; however, transferring property has added risks. When transferring property to your family, if you don’t follow the rules to the T, even the slightest error can tie your loved ones with many potential risks. What is a Title and Title Transfer? A title refers to the ownership of a property and […]