Purchasing a property can sometimes come with unexpected challenges. This may raise important questions for buyers regarding what might happen if unexpected circumstances prevent them from going through with the purchase of a property. In Ontario, if a buyer is unable to complete the transaction, they may face legal and
For most people, purchasing their first home is an exciting milestone, but it can also be quite financially overwhelming. In addition to the down payment, homebuyers are often faced with a wide variety of taxes and fees associated with the process. What many homebuyers may not realize is that the
Starting a corporation involves more than simply registering a business and filing taxes. Corporations are subject to ongoing legal record keeping requirements, which are typically maintained in a corporate minute book. Keeping a minute book is an annual obligation that is often overlooked by corporations. Business owners are usually concerned
Arranging financing for a mortgage can feel overwhelming, especially for first-time homebuyers. While many buyers choose to go directly to their bank, a mortgage broker may help borrowers compare their financing options to better understand what may be available based on their circumstances. What Is a Mortgage Broker? A mortgage
Purchasing a property in Ontario comes with various costs, including the Ontario Land Transfer Tax. This tax is applied to real estate transactions on a marginal basis, which varies depending on the value of your home. Many homebuyers are unaware that this tax can add thousands of dollars to the
The family home is usually one of the assets of greatest emotional and financial value for a married couple. In the event of a separation, determining how the property will be managed can become complex. Thankfully, Ontario’s Family Law Act outlines important rights and protections available to spouses. What Is
Many people assume that if they pass away without a will, their spouse or children will automatically inherit everything. However, this is not always the case. In Ontario, dying without a valid will means that provincial law determines how your estate is managed. Without a valid will, your loved ones may
Unforeseen circumstances can sometimes make it difficult for a homeowner to keep up with their mortgage. In the event that a homeowner defaults on their mortgage, the lender may be entitled to sell the property. A power of sale can feel overwhelming for homeowners. However, a real estate lawyer can
You’ve finally found your dream home, signed all the paperwork, and received your keys. Only to discover an issue with the ownership, an undisclosed lien, or even title fraud. This is where title insurance becomes important. In many Ontario real estate transactions, title insurance is strongly recommended because it can
