Real Estate Litigation Articles
Will you have to pay Toronto’s new Vacant Home Tax?
The 1 per cent charge on homes that go unoccupied for more than 6 months of the previous year is still a work in progress, write Bob Aaron. The City of Toronto’s new Vacant Home Tax is now in effect on Toronto residences. With certain exemptions, the tax applies to...
Toronto’s vacant home tax looms, and it will have ripples
The new annual tax kicks in on January 1 and home buyers should be vigilant to avoid being on the hook for penalties of up to $10,000. Toronto’s new annual tax on vacant residences kicks in on January 1, and it will have a significant impact on how real estate...
When does a home buyer legally own the property? Sooner than you may think
The old legal principle of ‘equitable conversion’ gives the buyer ownership once both sides have signed the deal, writes Bob Aaron. A compelling situation was raised in a Facebook group for real estate professionals last month by a realtor in Mississauga. The...
CREA steps back on a controversial new policy about home sale listings
The plan to begin mandatory public listings of homes for sale on Jan. 1 will now be put to a vote at the next annual general meeting, writes Bob Aaron. In the wake of a torrent of negative feedback, the Canadian Real Estate Association (CREA) has suspended its new...
Expect court challenges to law banning non- Canadians from buying property
Is the new law a genuine effort by Parliament to regulate immigration and citizenship, or a back door attempt to regulate property law, asks Bob Aaron. After January 1, 2023, it will be illegal for any non-Canadian to purchase residential property anywhere in Canada....
Why forcing home sellers to publicly list their properties is a bad idea
Many sellers choose exclusive listings because they don’t want their homes’ details and sale prices known, writes Bob Aaron. The Canadian Real Estate Association (CREA) has announced a change in its rules that will work against the best interests of home sellers...
A home purchase offer is legally binding once it’s signed
A buyer is obliged to complete the deal whether or not the deposit is paid, writes Bob Aaron. If a buyer has a change of heart after signing a purchase agreement, but before paying the deposit, is the contract still binding? That was the issue in a Superior Court case...
When pre-construction home buyers face builder demands for more money
Construction problems such as foreseen costs, and shortages of labour and materials, are issues for builders — not purchasers — to resolve, writes Bob Aaron. Just because a builder demands more money to build a new home or condominium does not mean that it is...
New provincial rules can’t stop pricey surprise fees for new homebuyers
Additional and high closing fees should not be billed to buyers in the final hours before their deals close, writes Bob Aaron. A group of buyers of new townhomes in Mississauga got the shock of their lives when, a few days before closing their purchases last month,...
It can cost you to back out of a purchase
Superior Court orders a buyer to pay over $600,000 to the builder of a Thornhill development where she walked away from her deal. Over the last five years, Ontario’s courts have been busy with litigation involving failed residential real estate transactions. When the...
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