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PLZ Law Blog
Monthly Archives: June 2010
Assignment of leases, rents, non-disturbance, and attornment
Date: June 14, 2010 | Author: Jeff Levy, HBSc, MBA, CFA, AMP, JD
Assignment and Assumption of Contracts General Rules The lease is a mixture of benefits and obligations, which can be unilateral or bilateral. The “assignor”, or a party to a lease, can assign the benefits to a third party, the “assignee” but cannot assign the obligations without the consent of the other contracting party or the ...
Assignment of Rents: Potential Conflicts and Exceptions
Date: June 14, 2010 | Author: Jeff Levy, HBSc, MBA, CFA, AMP, JD
In the previous instalment, we discussed the difference between lease and rents and left open the manner of their registration. It is a fait accompli that an assignment of rents could be registered in Land Titles. As the right to get rents is a chose in action, it has to be registered under the P.P.S.A. ...
ASSIGNMENTS OF LEASES, RENTS, NON DISTURBANCE AND ATTORNMENT: An Introduction
Date: June 11, 2010 | Author: Jeff Levy, HBSc, MBA, CFA, AMP, JD
Leases and tenancies of a secured property are of great interest to a commercial lender for the following reasons: 1. The borrower could pay the debt from the rent obtained from the tenant; 2. For valuation of the property based upon a cap rate, the rent could be used as the basis; 3. The rent ...
Understanding Municipal Tax Sales: Legal Challenges
Date: June 11, 2010 | Author: Jeff Levy, HBSc, MBA, CFA, AMP, JD
Other Legal Challenges Earlier we have discussed three Municipal Tax Sales clauses, which if applicable, leads to cancellation of sale. Besides cancellation by the treasurer, the tax sale could be challenged by others as voidable for neglect, omission, or error as provided in s. 382 (1).21 Redemption The statute states that the cancellation price has ...
Some Notes on Municipal Tax Sales
Date: June 11, 2010 | Author: Jeff Levy, HBSc, MBA, CFA, AMP, JD
GST On July 1, 2010, the Harmonize Sales Tax (HST) will replace GST in Ontario. However, the province’s municipal tax sales legislation precedes the federal GST legislation, which only dates back to 1991. There is no reference to GST in the legislation or the Rules, nor how it should be applied. According to the Act, ...
An Overview of Municipal Tax Sales
Date: June 10, 2010 | Author: Jeff Levy, HBSc, MBA, CFA, AMP, JD
As municipal tax sales are not that frequent, it is not uncommon for purchasers to proceed without professional advice. As a consequence, real estate practitioners often are clueless in these transactions due to lack of experience. Legislated Process Statutory codes manage the highly regulated municipal tax sales in Ontario. Its predecessor was the Municipal Tax ...
CONSTRUCTION LIENS: Electronically Liening Registered Leases
Date: June 10, 2010 | Author: Jeff Levy, HBSc, MBA, CFA, AMP, JD
It would appear that when registered leases are liened electronically, adherence to the rules is not as strict, sort of relaxation of rules is practiced, as would be seen from the case history below: Petroff: Liening Registered Leases Electronically Registration of title documents electronically has made it easier for lawyers to representing lien claimants wishing ...
Construction Liens: Obtaining Liens and Restrictions Placed on Them
Date: June 10, 2010 | Author: Jeff Levy, HBSc, MBA, CFA, AMP, JD
We have discussed earlier one of the two methods by which a contractor working for a tenant is able to get a lien on the freehold of the property. The second method will now be discussed. The Freehold Owner Deemed “Owner” Under the CLA Within the meaning of the CLA, there are circumstances, when the ...
Liens and Commerical Tenants
Date: June 10, 2010 | Author: Jeff Levy, HBSc, MBA, CFA, AMP, JD
Overview Regardless of the fact that the individual is a landlord, a tenant, or a lien claimant, it is important for each of them to be aware of the unique issues raised when construction liens are registered against leasehold premises. Firstly, there is the need to determine for whom the construction work has been carried ...
COMMERCIAL LEASING: Rooftop Solar Panels
Date: June 10, 2010 | Author: Jeff Levy, HBSc, MBA, CFA, AMP, JD
Rooftop Solar Panels A number of landlords, owners, and tenants have recently received inquiries from rooftop solar panel installers desirous of installing solar panels on their roofs. In principle, the idea of encouraging green initiatives sounds like a good one. However, in circumstances in which the owner is not the end user of the building ...
