What is Title Insurance?

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What is title insurance? Many purchasers closing a real estate transaction will have the option of obtaining title insurance, however, most people do not know what it is and how it can protect them. This article breifly explains what it is and why it may be important to have.

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Heritage Designation and New Projects

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The Ontario Heritage Act allows for municipalities to designate certain properties as historical and therefore limiting it for any redevelopment. This article breifly discusses the act and provides some discussion on the issues surrounding it and some examples of projects in the city of Toronto that use heritage sites for new developments.

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My Real Estate Transaction Did Not Close, Now What?

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When a transaction does not close as a result of a Vendor’s or a Purchaser’s actions, what are the remedies for the innocent parties and what are the consequences for the guilty parties?

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The Disclosure Statement

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Upon signing an agreement of purchase and sale, the Builder must deliver the disclosure statement and documents which contain important information about the condominium project.

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Understanding Interim Occupancy

In Legal by Maxim_Zavet1 Comment

In Ontario, a new condominium project is a two-step process. One is called the interim occupancy, the other is the final closing. This article briefly goes over the process.

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Condominium Liens

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Simple explanation of what condominium liens are and the enforcements powers of the condominium corporation with respect to condominium liens.

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What is a Status Certificate!

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Status certificates are important documents that disclose the status of a condominium building, corporation and particular unit.

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Assignments in Condominium Agreements of Purchase and Sale

In Legal by Maxim_Zavet7 Comments

This article quickly explains what it means to assign a condominium agreement of purchase and sale before closing.

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The Implications of Renting Your Condominium Unit

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Many purchasers of pre-construction condominiums who are buying the unit as an investment are often uncertain as to what to do with the unit. If the purchaser rents it, there are a few implications they need to consider.

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The Builder’s Condominium Agreements of Purchase and Sale – Understanding Adjustments

In Legal by Maxim_Zavet7 Comments

Adjustments are development costs which the condominium builder (the “Builder”) must incur in order to deliver the condominium units to the purchasers.  These adjustments are disclosed in the agreement of purchase and sale (the “Agreement”) and are the purchaser’s responsibility to pay on typically the final closing date.

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Can You Refuse to Close if Your Condominium Square Footage is Less Than You Bargained For?

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What can a condominium purchaser do if they recieve less than what they bargained for from the builder in terms of the size of their unit?