Putting property in children’s names is risky

by admin | Nov 14, 2009 | 2009 Toronto Star Columns, Toronto Star Property Law Columns

There’s a common misconception that the best way to avoid Ontario’s 1.5 per cent probate fees on the value of an estate is to place the family home and other assets into joint ownership with a child or children, so that the property will automatically transfer to the...

Buyers hit with big bills for surprise adjustments

by admin | Nov 7, 2009 | 2009 Toronto Star Columns, Toronto Star Property Law Columns

Bob Aaron bob@aaron.ca As many as 244 purchasers received a nasty surprise at the end of September when they got hit with thousands of dollars in “fictitious” charges on final closing of their new condominium units. The development in question is a 244-unit...

Rules on terminating a deal all over the map

by admin | Oct 31, 2009 | 2009 Toronto Star Columns, Toronto Star Property Law Columns

Bob Aaron bob@aaron.ca Can a buyer refuse to close the purchase of a new home if there are deficiencies in construction, forgotten or incomplete items, or unauthorized changes to the design, layout or materials? That question was the subject of a paper presented to a...

Honesty won’t resolve disclosure form issues

by admin | Oct 24, 2009 | 2009 Toronto Star Columns, Toronto Star Property Law Columns

Bob Aaron bob@aaron.ca The Great SPIS Myth It’s time to reveal The Great SPIS Myth the prevailing fiction about the Seller Property Information Statement (SPIS), a disclosure form published by the Ontario Real Estate Association (OREA). Although its use is...

Ontario a step closer to mandatory energy audits

by admin | Oct 17, 2009 | 2009 Toronto Star Columns, Toronto Star Property Law Columns

Bob Aaron bob@aaron.ca With the proclamation of the Green Energy Act, 2009, Ontario has moved one step closer to requiring mandatory energy audits on the sale of residential properties. Section 3 of the new legislation is the only part of the law that has not yet...