ARCHIVED BLOG POSTS
2017
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Good Faith Contract Performance in OntarioQuestion:A buyer has an accepted offer, conditional on inspection. He's happy with the inspection, only a few minor issues. He is considering walking away even though he loves the house, because his adult kids don't like the house based on the pictures (t...
10/26/2017
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Corporate Seal and Contract Seals in OntarioIn Ontario, it has not been necessary for Corporations to have Corporate Seals for about 25 years. However, most do.If the Corporate seal is used then it is not necessary to say “I have authority to bind the Corporation”. That is assumed by reason of th...
10/26/2017
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Merger of Titles in OntarioQuestion:I understand that if someone purchases adjoining' land/properties ... that the 2 merge 'as one' and would eventually need to be severed before any parcel can be sold.My questions are regarding specifics around this.For instance:1) I heard from another registra...
10/26/2017
Joint Tenancy Thwarts Bankruptcy in This InstanceHaving property registered in joint tenancy actually worked quite favourably. A doctor acquired a matrimonial home and placed the title in his name together with his wife as joint tenants. The doctor then obtained a loan to finance his medical prac...
10/26/2017
Agent’s Negligence: Breach Real Estate and Business Brokers Act, 2002Another source of laws involving real estate Agents is the Real Estate and Business Brokers Act, 2002.Some of its provisions offer an important grounding for negligence claims.Disclosure of InterestHere is the relevant section o...
10/25/2017
Agent’s Negligence: Breach of Contract at Common lawAside and apart from the Agent’s fiduciary duties, an Agent is obligated to fulfill any contractual promises made. That’s a simple common law obligation, just like anyone else, there’s nothing special here.SellingWhen an Agent has entered into a...
10/25/2017
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Getting Around “Good Faith” in OntarioQuestion:The standard clauses for financing and inspection which say “absolute and unfettered discretion” are no longer the case. How do you get around that? Answer: There is no obligation to “negotiate” in good faith, but once you have a contract, you are ob...
10/25/2017
Fixed term preferred rates & posted rates as of Oct 24, 2017 6 mos 3.10% 3.14%1yr 2.64% 3.04%2yr 2.54% 3.04%3yr 2.74% 3.44...
10/24/2017
Term Posted Rate Preferred Rate Open 1 Year 6.30% 6.30% Fixed 1 Year 3.04% 2.64% Fixed 2 Year 3.24% 2.54% Fixed 3 Year 3.44% 2.84% Fixed 4 Year 3.89% 2.94% Fixed 5 Year 4.99% 2.99% Fixed 7 Year 5.30% 3.69% Fixed 10 Year 6.10% 3.74% Variable 2.35% Prime 3.20% Benchmark 4.89%
10/23/2017
Term Posted Rate Preferred Rate Open 1 Year 6.30% 6.30% Fixed 1 Year 3.04% 2.64% Fixed 2 Year 2.84% 2.54% Fixed 3 Year 3.44% 2.84% Fixed 4 Year 3.89% 2.94% Fixed 5 Year 4.84% 2.94% Fixed 7 Year 5.30% 3.44% Fixed 10 Year 6.10% 3.74% Variable 2.35% Prime 3.20% Benchmark 4.89% Rates may vary provin...
10/22/2017
Rainmaker
1,598,222
1,598,222
Brian Madigan
LL.B., Broker
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