February 21, 2017
As you are probably aware, the Federal Government has recently announced a significant change concerning guidelines for borrowers of high-ratio mortgages; i.e., a borrower having a deposit of less than 20% of the purchase price of a home. As of October 17, 2016, borrowers requiring mortgage default insurance need to meet the mortgage …
February 21, 2017
On Nudists, Convicts and Ghosts – How Much Must a Seller Disclose to a Buyer? I am often asked by sellers to advise as to how much (or how little) information they must provide to potential buyers. It’s never an easy answer: Although the time-honoured saying “buyer beware” still holds, in law the seller still …
November 1, 2016
To the relief of Co-ownership Buildings created after 1998 but before 2008, and the individual unit owners, the submission to the Ontario Ministry of Finance has been successful. A group of property tax experts consisting of David Fleet, Peter Milligan, and David Gibson were retained by the Coalition Co-ownership Corporations to appeal the re-classification …
October 6, 2016
Those of you who have mortgages may know that the federal Interest Act contains a section that expressly governs post-default mortgage interest rates. Specifically, section 8 of that Act prohibits a lender from imposing a “fine, a penalty or a rate of interest” that has the effect of creating a higher charge on unpaid arrears …
September 27, 2016
As Published by REM Magazine – June 27th, 2016 Legal Responsibilities of Real Estate Agents, Fourth Edition Rosemary Bocska and Martin K.I. Rumack – LexisNexis This popular textbook by research lawyer Rosemary Bocska and Toronto lawyer and frequent REM contributor Martin Rumack is now in its fourth edition. “A particularly strong factor in deciding to publish …
June 6, 2016
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