ARCHIVED BLOG POSTS
2015
2
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Marihuana Presence and Risk of ContaminationQuestion:From time to time, you will run across a Marihuana Grow House, but it is legal and it has permits. Are there any special considerations? Answer:Marihuana is just a plant. Without its pejorative context, it is really nothing different from any o...
10/20/2015
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Investment Property Gains in Ontario The first issue to be determined is whether the property even qualifies for capital gains tax treatment. It might be considered as ordinary income. If it is “income”, then the full amount has to be brought into income in the year of the disposition. The next s...
10/20/2015
Value of an AddressSometime a particular address will have significant value. If the address is not on MLS, be sure to add it to the Offer.The Trump Hotel in Toronto faces onto Adelaide Street, but it sides onto Bay Street. Since a Bay Street address is much preferred, it noted as 325 Bay Street....
10/20/2015
Banking Days The expression “banking days” is often used in real estate contracts. The difficulty with “banking days” is that it lacks a precise meaning, as does the term “holidays. When hours are important, the reference to “days” is imprecise. It is much better to have a specific date and time...
10/20/2015
Fixed term best preferred rates & posted rates as of October 19, 20156 mos 3.10% 3.14%1yr 2.29% 2.89%2yr 2.09% 2.84%3yr 2.34% ...
10/20/2015
TERM POSTED Preferred RATES* 6 month 3.1% 3.1% 1 year 2.89% 2.29% 2 year 2.84% 2.19% 3 year 3.39% 2.25% 4 year 3.89% 2.54% 5 year 4.64% 2.49% 7 year 5.3% 3.44% 10 year 6.75% 3.84% Variable 1.95% Prime 2.7% BenchMark 4.64% Cost per $1,000 $4.47 * Cost per $1000 based on 5yr fixed term rate compou...
10/19/2015
Joint Tenancy Issue in OntarioQuestion:Bob and Martha are brother and sister, they were left a house by their mother, as joint tenants.Martha dies. Can you list the property right away, on Bob's instructions?Answer:In Ontario, there are actually eight (8) facts or sets of issues which can affect ...
10/18/2015
Defalcation By Brian Madigan LL.B. (Ontario Real Estate Source)The latin term "defalcation" means "reckless misappropriation".It is a concept that frequently appears in criminal laws, bankruptcy laws and insurance policies.It is a term that describes the conduct of a trustee or a fiduciary concer...
10/18/2015
Meaning of "Gravamen"By Brian Madigan LL.B.(Ontario Real Estate Source)The latin expression "gravamen" means "to weigh down", or "be heavy".As it is used in law, the expression has come to mean the essence of the case, the substance of the case, or the seriousness of the case.It is in effect, the...
10/18/2015
TERM POSTED Preferred RATES* 6 month 3.1% 3.1% 1 year 2.89% 2.29% 2 year 2.84% 2.19% 3 year 3.39% 2.25% 4 year 3.89% 2.54% 5 year 4.64% 2.49% 7 year 5.3% 3.44% 10 year 6.75% 3.84% Variable 1.95% Prime 2.7% BenchMark 4.64% Cost per $1,000 $4.47 * Cost per $1000 based on 5yr fixed term rate compou...
10/18/2015
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