ARCHIVED BLOG POSTS
2017
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Title Insurance Issues (Ontario)Question:I acted for clients who purchased a property. I am assisting them with a title insurance claim. There were many open permits which they didn’t know about. Should the lawyer not have found out and heldback some money on closing?Answer:It’s important to kno...
09/08/2017
Landlord and Tenant Liability for Trip and Fall (Ontario)Question:Tenant is renting a main floor apartment, trips on steps leading to the front door and injures themselves and will be off work. Who has liability here? Answer:There are basically only two possibilities here: the Landlord and the Te...
09/08/2017
Commercial Bond Yields CMB GoC Floating RateInsured Cost of Funds 5 Year - 2.11%*CANHOU 12/15/22 [+0.01] 5 Year - 1.70%CAN 1.0 09/01/22 [-] 1.15% [-] 10 Year - 2.52%*CANHOU 03/15/28 [-0.01] 10 Year - 1.96%CAN 1.0 06/01/...
09/08/2017
Fixed term best discounted rates & posted rates as of Sept 6, 2017 6 mos 3.10% 3.14%1yr 2.44% 3.04%2yr 2.54% 2.84%3yr 2.69% ...
09/06/2017
Termination Notice with One Month’s Rent (Ontario)Question:What is the situation with the one month’s rent, where the Seller gives notice for the Buyer to occupy the premises personally. The deal will be closed, but the Seller will have given the required notice.Answer:The OREA Forms have not yet...
09/04/2017
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Enforcing the Buyer’s Representation Agreement when the Buyer Buys Direct from the Builder This situation seems simple enough.The standard Form OREA Buyer Representation Agreement actually covers this. It’s included. The reason why it’s included, is that it’s “not excluded”. That’s how you figure...
09/04/2017
Commercial Bond Yields CMB GoC Floating RateInsured Cost of Funds 5 Year - 1.99%*CANHOU 12/15/22 [+0.05] 5 Year - 1.59%CAN 1.0 09/01/22 [+0.06] 1.04% [-] 10 Year - 2.45%*CANHOU 03/15/28 [+0.02] 10 Year - 1.90%CAN 1.0 ...
09/03/2017
Regarding Notices Provision in Agreement in OntarioQuestion:Would the Buyers or Seller or Lawyers fax no. and email be inserted in the clause if there is a multiple representation agreement?Answer:Use somebody's email or fax, otherwise, there is a very difficult and time proving alternative, that...
09/03/2017
Condition Precedent vs. Condition Subsequent vs. True Condition Precedent (Ontario) Contractual duties arise upon acceptance and formation of a contract. There is then an obligation of "good faith contractual performance". The True Condition Precedent anticipates Third Party involvement and dec...
09/03/2017
Get the Deposit Paid even with an Uncertified ChequePayment of the deposit is a “key” component in most agreements. If it’s not paid at all, that’s a breach. If it’s not paid “in time”, that’s also a breach.The matter of an uncertified cheque recently was considered by the Ontario Court of Appeal...
09/03/2017