ARCHIVED BLOG POSTS
2011
3
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Charge/Mortgage What is the difference between a charge and a mortgage? Answer Prior to 1984 and the passage of the Land Registration Reform Act (LRRA), they were known as mortgages and were referred to as mortgages in the Land Registry System. Under the LRRA, mortgages were known as charges (a...
04/28/2011
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Question: Repairs Following Inspection How would repairs requested by a buyer after the home inspection be handled? Following inspection, the buyer would like to have a number of repairs undertaken some of which are minor and others rather major in nature e.g. re-shingle roof, replace a defecti...
04/28/2011
SPIS ~ Kaufmann and Gibson Ontario Real Estate Source By Brian Madigan LL.B.This is a case involving the improper completion of the Seller Property Information Statement by the vendors.The Kaufmanns resided in London Ontario and acquired their residence in 1981. They original house had been co...
04/28/2011
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Land Titles Squeezes Out Squatters The Land Titles system of land registration is soon to replace the old Registry System. Teranet is placing all titles into Land Titles by electronic registration. Previously acquired rights by prescription are not effected, but no new rights may be acquired. In ...
04/28/2011
SPIS ~ Boychuk and Butler Ontario Real Estate Source By Brian Madigan LL.B.This is another case involving the improper completion of a Property Condition Disclosure Statement and the remedies that are available afterwards.This case was determined in the Small Claims Court of Nova Scotia Februa...
04/27/2011
SPIS ~ Cole and Vankoughnett Ontario Real Estate Source By Brian Madigan LL.B.This case involves representations and remedies available for improper completion of the Seller Property Information Statement (SPIS).The purchasers brought an action in Small Claims Court for misrepresentation, and ...
04/27/2011
SPIS ~ Sask and Brooke Ontario Real Estate Source By Brian Madigan LL.B.This was a case heard in the Supreme Court of British Columbia and it involved the Property Condition Disclosure Statement, which is similar to Ontario's Seller Property Information Statement.Briefly, the plaintiff as purc...
04/26/2011
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Terms Bank Rates Preferred Rates 6 Month 4.45% 4.40% 1 YEAR 3.70% 2.64% 2 YEARS 4.05% 3.40% 3 YEARS 4.55% 3.62% 4 YEARS 5.19% 3.79% 5 YEARS 5.69% 4.19% 7 YEARS 6.49% 4.79% 10 YEARS 6.85% 4.99% Rates are subject to change without notice. *OAC E&OE Prime Rate is 3.00% Variable rate mortgages from ...
04/26/2011
SPIS ~ Wiebe and Loconte Ontario Real Estate Source By Brian Madigan LL.B.This case involves a claim for damages against the vendors, the former owners of a house. The house was located in Winnipeg and the decision was made by the Court of Queen's Bench of Manitoba.It is rather clear that ther...
04/26/2011
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February is Always a Good Month Again, another "truism" among real estate agents, or is it? Let's have a look at Februarys since 2004 and compare them to Januarys. Are the average prices in the GTA for single family homes (the key market indicator) up or down? February 2004..........up 2005.........
04/24/2011
Rainmaker
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Brian Madigan
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