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Tag: terms

CONSTRUCTION LIENS: Electronically Liening Registered Leases

It would appear that when registered leases are liened electronically, adherence to the rules is not as strict, sort of relaxation of rules is practiced, as would be seen from the case history below:Petroff: Liening Registered Leases ElectronicallyRegistration of title documents electronically has made it easier for lawyers to representing lien claimants wishing to lien leasehold premises where the lease is registered on title.  Petroff Partnership Architects v. Mobius Corp is a lawsuit based on the applicability of the curative

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COMMERCIAL LEASING: Careful Consideration of Clauses

Renewals and Extensions are quite important in C. L., as can be seen from the case histories below.Saskatchewan Ltd. v. NelsonIn this case, a lease was taken by the former landlord and the tenant for a term commencing in March 2001, and ending February 2006.The lease had an option to renew for one further period of five years on the same terms and conditions as existing with the exception of annual rent, which was to be agreed between the parties. In 2005,

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COMMERCIAL LEASING: All About Transfers

Involvements of matters relating to assignments are substantial in commercial leasing, as will be seen in this part of our ongoing series.Transfers In respect to assignments, important developments have taken place. This is due to the fact that courts are unwilling to permit landlords to terminate a lease when a request for a transfer is made without providing an opportunity for the tenant to withdraw its request.

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THE ECONOMICS OF THE MORTGAGE INDUSTRY

Real properties (real estate) like buildings, lands, residences are generally acquired by a purchaser through taking a loan. The promise to repay this loan is backed by a security, where the borrower/chargor grants a mortgage or charge against its real property in favour of the lender/chargee.  Incidentally, such a loan is  called a mortgage loan secured by real property and stated thus in a document. In common

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REAL ESTATE: Latent & Patent Defects when purchasing a home. Need a home inspection?

Latent defects in the eyes of the law applicable at the time when administering the sale of a real estate property (land, buildings and fixtures or chattels), are faults or shortcomings in the property not ordinarily found even though the inspection was reasonably thorough. For instance, there could be a disused underground fuel tank in the property, its filling line, vent, etc. removed or gone. It would be very difficult

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BUSINESS SENSE: Commercial Lease Enforcement & Remedies

The lease enforcement or implementation of the agreement between the landlord and the tenant should be deliberately followed to avoid any conflict and discussion. However, there are instances when the agreement will be defaulted and the remedies or solutions will be taken into consideration. Basically, the purpose of every lease agreement is to ensure a joint benefit for both landlord and tenant. 

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THE BASICS OF A COMMERCIAL LEASE

The global economic recession unavoidably affected the commercial leasing market in Canada. This has caused landlords and tenants to think over their respective bargaining positions when engaging into a commercial lease negotiation. Thus, the approach of negotiating and drafting a commercial lease will inevitably take into consideration the current economic reality of the business world.

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THE AGREEMENT OF PURCHASE AND SALE: Not Just Used In Real Estate!

An agreement of purchase and sale is a major key document in negotiating to buy and sell an asset. This is an agreement between the seller and the purchaser. It is legally made to deal with the transfer of the asset with regard to its purchase value, payment arrangements, warranties of the seller, representations on the asset, terms of how the transaction is to take place, conditions precedent to firming the deal,

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Standard Charge Terms, Briefly Speaking

When a loan or mortgage is electronically registered against a property by a lender, it is known as a Charge (a Charge is sometimes synonymous with mortgage). The lender is the Chargee and the borrower is the Chargor. The Chargee will provide the Chargor what is commonly known as a set of Standard Charge Terms (“SCT”). SCT are filed with municipal Land Registrars pursuant to the Ontario Land

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