Be wary of rebate rules before buying a home

by admin | Apr 9, 2016 | 2016 Toronto Star Property Law Columns, Toronto Star Property Law Columns

Bob Aaron bob@aaron.ca Until now, when a cousin, aunt, uncle, nephew, niece, friend or business associate is registered on title for mortgage purposes, none of the buyers can get the rebate. It is unclear after a recent court decision if having a friend listed on your...

Fee for land transfer registration amounts to tax on a tax

by admin | Mar 26, 2016 | 2016 Toronto Star Property Law Columns, Toronto Star Property Law Columns

Bob Aaron bob@aaron.ca ‘Administration fee’ that will now be charged on municipal land transfer tax is $75 — plus HST Last week the City of Toronto and Teranet, the administrator of the provincial land registration system, announced a new $84.75 tax on registration of...

Finders keepers’ law not always a golden ticket

by admin | Mar 12, 2016 | 2016 Toronto Star Property Law Columns, Toronto Star Property Law Columns

Bob Aaron bob@aaron.ca What would you do if you found a gold bar while renovating someone’s house? If you had been hired to renovate and in the process discovered a 1 kg gold bar worth $50,000, would you return it to the owner of the house? Or pocket it and say...

Protecting condo buyers when materials, expenses change in final sale agreements

by admin | Feb 27, 2016 | 2016 Toronto Star Property Law Columns, Toronto Star Property Law Columns

Bob Aaron bob@aaron.ca Recent court decisions have ruled in favour of condo buyers seeking a refund of their deposits following a discrepancy between the initial documents they signed and the final sale agreement. Recent lawsuits over material changes in final sale...

Beware of overcharges during interim occupancy period

by admin | Feb 13, 2016 | 2016 Toronto Star Property Law Columns, Toronto Star Property Law Columns

Bob Aaron bob@aaron.ca The way some builders calculate estimated taxes is not the way the city does it and the result is a significant overcharge to buyers. Thousands of purchasers of new condominiums are being overcharged for property taxes. Here’s how it works: when...

Late mortgage payment charges contrary to Interest Act, court rules

by admin | Feb 1, 2016 | 2016 Toronto Star Property Law Columns, Toronto Star Property Law Columns

Bob Aaron bob@aaron.ca Interest Act is intended to protect property owners against abusive lending practices. A decision of the Ontario Court of Appeal has ruled that late payment charges and default fees set out in a mortgage are unenforceable and contrary to the...