Quick home flipping piques the interest of the CRA

by admin | Apr 17, 2021 | 2021 Toronto Star Property Law Columns, Toronto Star Property Law Columns

An interesting case from the Tax Court of Canada last fall explores the issue of how many times a taxpayer can flip personal residences during a short period of time before the government will tax the profits as income rather than tax-free capital gains. Rick Hansen,...

Surveys crucial in waterfront purchase

by admin | Apr 3, 2021 | 2021 Toronto Star Property Law Columns, Toronto Star Property Law Columns

Last month I was asked to review an offer to purchase a $1.2 million waterfront cottage on Lake Simcoe. The experience underscored how important it is, especially in cottage transactions, to determine the exact size and location of the property being purchased with a...

Personal touches can be ordered removed from condo properties’ common elements

by admin | Mar 20, 2021 | 2021 Toronto Star Property Law Columns, Toronto Star Property Law Columns

Disputes over the unauthorized use of condominium common elements continue to appear in Ontario courtrooms. One recent case involved Irving and Nancy Kumer, who owned a luxury condominium townhouse on Lower Village Gate, near Spadina Rd. and St. Clair Ave. W., in...

Check into work orders and permits before you buy

by admin | Mar 3, 2021 | 2021 Toronto Star Property Law Columns, Toronto Star Property Law Columns

Who is responsible when a home is so defective that it is deemed unsafe to occupy? That was the issue facing John Breen after he purchased a luxury cottage for $710,000 in 1999. The winterized cottage was 5,000 square feet on 15 acres with six bedrooms, 4-1/2...

Kids, including adopted adult children, can inherit Toronto Islands’ exclusive and restricted homes

by admin | Feb 20, 2021 | 2021 Toronto Star Property Law Columns, Toronto Star Property Law Columns

Can a 90-year-old man adopt a 58-year-old adult as his son in order to allow the younger one to acquire ownership of his Toronto Island home? That was the question facing Justice Markus Koehnen in an application brought by the Toronto Islands Community Trust Corp....

Who is liable if defects are found after a home inspection?

by admin | Feb 6, 2021 | 2021 Toronto Star Property Law Columns, Toronto Star Property Law Columns

Can a home inspector avoid legal responsibility if is an exclusion of liability clause in the inspection contract? In February, 2009, Michael Smith retained Terry Gordon, a registered home inspector, to inspect a house for sale in Dartmouth, N.S. Gordon presented...