Real Estate

Costly lessons in buying a new home

By Matthias Duensing . It’s a seller’s market in and around Toronto. Buyers frequently make one of the biggest financial decisions of their lives within hours — often without having much time to examine the property they’re purchasing. Read more

Who’s on the hook for supplemental property tax bills?

No one wants to pay extra property taxes, but that’s the risk buyers of newly built homes take when they don’t seek legal advice before signing purchase agreements, says Toronto real estate lawyer Sarita Samaroo-Tsaktsiris. Read more

Conant to discuss new condo legislation at SpringFest

Toronto condominium lawyer Armand Conant will provide an update on Bill 106, Protecting Condominium Owners Act , at the upcoming SpringFest in Toronto. Read more

Hot real estate market can't always be cooled by legislation

Politicians hoping to solve the Greater Toronto Area’s housing affordability crisis with legislation should proceed with caution, says Toronto real estate lawyer Peter Neilson. Read more

Elevator repair legislation timely given construction boom

Proposed legislation that would make timely elevator repair mandatory in Ontario is much needed, given the increase in development and condominium construction in the city, Toronto real estate lawyer Sarita Samaroo-Tsaktsiris tells The Lawyer’s Daily. Read more

Can condo boards ban smoking in units?

Health Canada’s proposal to ban smoking in apartments and condominiums is raising questions among condo owners who intentionally purchased units in buildings where smoking is permitted, says Toronto real estate lawyer Lisa Laredo. Read more

Property flips come with tax consequences

Canadian property flippers should prepare to pay tax on all their profits, says Toronto real estate lawyer Daniel Bernstein. Read more

Multiple wills could prove useful for some B.C. businesses

With probate now optional under British Columbia's new Wills Estates and Succession Act , businesses owners in the province have the ability to create multiple wills, grouping certain assets together that do not need to be probated — a tool that may save the estate thousands of dollars, Vancouver corporate lawyer Jonathan Reilly tells AdvocateDaily.com . Read more

Buyer protection, dispute resolution central to new condo laws

Following explosive growth in Ontario’s condominium industry over the last two decades, legislative changes are on the way that will hopefully help protect consumers in a number of areas, Toronto condominium lawyer Armand Conant tells The Condominium Report with Joe Vero on AM 640. Read more

New condo purchases can bring closing day surprises

Hiring a lawyer can help buyers of newly constructed condos avoid surprises when closing day arrives, says Toronto real estate lawyer Daniel Bernstein. Read more

More lenders rejecting POAs in real estate deals

A rise in fraud is behind the stiffer rules some lenders are imposing on buyers using a power of attorney for real estate transactions, says Toronto real estate lawyer Sarita Samaroo-Tsaktsiris. Read more

Consider conveyance issues after death of property owner

From a real property law standpoint, many important aspects of conveyancing need to be addressed following the death of a registered owner, Toronto real estate lawyer Lisa Laredo writes in Lawyers Weekly . Read more

Lender can rely on title register when mortgage not fraudulent

A recent Divisional Court decision that found a mortgage was not a fraudulent instrument allowed the lender to rely upon the state of the title register which showed no prior mortgages — resulting in the court overturning a prior decision over which the original/previous lender had the ‘first mortgage’ on a property, Toronto real estate lawyer Lisa Laredo tells Law Times . Read more

Private mortgage means added reporting obligation for lawyers

A new mortgage ‘stress test’ introduced last fall may ultimately lead some first-time homebuyers and those with an increased household debt load to turn to private, unregulated lenders — which triggers an increased reporting requirement for lawyers involved in these transactions, Toronto real estate lawyer Anar Dewshi writes in Lawyers Weekly . Read more

Implementation of new tax creates problems for B.C. homebuyers

The B.C. government opted for a quick implementation of its new property transfer tax, aimed at slowing the Vancouver housing market — which has resulted in confusion and problems for a number of buyers, Vancouver corporate lawyer Jonathan Reilly tells AdvocateDaily.com. Read more