Tips to reduce, postpone or avoid probate taxes

by admin | Jun 4, 2016 | 2016 Toronto Star Property Law Columns, Toronto Star Property Law Columns

Bob Aaron bob@aaron.ca Some simple solutions to help keep the taxman’s fingers out of your pockets. The soaring values of GTA-area homes has made it an increasingly expensive proposition to die while owning real estate. Huge probate taxes, officially known as estate...

Get a survey even if your agent says no

by admin | May 21, 2016 | 2016 Toronto Star Property Law Columns, Toronto Star Property Law Columns

Bob Aaron bob@aaron.ca Only a survey prepared by an Ontario land surveyor can confirm that the cottage is situated inside the appropriate land boundaries. With cottage-buying season now underway, it’s important to remember that a land survey is the single most...

No need for third-party hand in closing funds

by admin | May 7, 2016 | 2016 Toronto Star Property Law Columns, Toronto Star Property Law Columns

Bob Aaron bob@aaron.ca Proposed scheme full of unanswered questions on money safeguards, timing of transfers and discharging prior mortgages. A new business to transfer funds in real estate purchases and sales is being proposed in Ontario. The plan is to take control...

Regulating Ontario’s home inspectors is taking too long

by admin | Apr 23, 2016 | 2016 Toronto Star Property Law Columns, Toronto Star Property Law Columns

Bob Aaron bob@aaron.ca In this province, anyone with a business card and a flashlight can be a home inspector. But after more than three years of study, the Liberals are still not ready to proceed with legislation. There’s good news and bad news for homebuyers who...

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...