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Recent Posts:
- My Two Cents on the Canadian Real Estate Market and Housing Prices in 4 Minutes
- CONDOMINIUM LAW: 10 Day Cooling Off Period and Giving Proper Notice of Rescission
- CONSTRUCTION LAW UPDATE: The Meaning of Builder Under the Ontario New Home Warranty Plan Act
- REAL ESTATE LAW UPDATE: Is a Condominium Corporation Obligated to Buy the Superintendant’s Unit?
- REAL ESTATE LAW: Condominium Basics
PLZ Law Blog
Category Archives: Draft & Review Agreements
CONSTRUCTION LAW UPDATE: The Meaning of Builder Under the Ontario New Home Warranty Plan Act
Date: September 2, 2011 | Author: Maxim Zavet, BA, JD
In Ontario, Tarion Warranty Corporation (“Tarion”) is responsible for administering the Ontario New Home Warranties Plan Act R.S.O. 1990, CHAPTER 0.31 (the “Act”) and is remedial, consumer protection legislation that primarily seeks to protect new home buyers from construction deficiencies and delayed closings. To paraphrase from the Tarion website, ONHWP describes the mandatory responsibilities of ...
Breached Agreements of Purchase and Sale: Can I Recover My Losses?
Date: February 9, 2011 | Author: Jeff Levy, HBSc, MBA, CFA, AMP, JD
Many Real Estate transactions wind up breaking down between the point where an Agreement of Purchase and Sale has been signed and the transaction is completed (“closed”). In such cases there are very often financial losses for both parties. Depending on who is at fault, there are avenues for the vendor or purchaser to recover ...
Real Estate law: Can You Refuse to Close if Your Condominium Square Footage is Less Than You Bargained For?
Date: January 13, 2011 | Author: Maxim Zavet, BA, JD
In real estate law, representations are very important elements to any agreement of purchase and sale. Typically the party selling the property will represent things such as the size of the land, the size of the dwelling, that the chattels and fixtures included in the purchase price are free and clear of encumbrances and in working ...
Real Estate Law: What the Difference is Between a Condition and a Warranty and Writing the Agreement of Purchase and Sale
Date: October 25, 2010 | Author: Maxim Zavet, BA, JD
One of the most important things I stress to Realtors and purchaser clients is to make sure it is very clear in the agreement of purchase and sale that everyone knows exactly what is being bargained for and the agreement is structured and contains clauses towards that intent. An older case, Jorian Properties Ltd. v. ...
Real Estate Law: Easements Affecting Your Property
Date: September 23, 2010 | Author: Maxim Zavet, BA, JD
Simply defined in the Blacks law dictionary, an easement is an interest in land owned by another person, consisting in the right to use or control the land or an area above or below it, for a specific limited purpose. Often, easements are registered on title thereby granting or assigning rights to use the subject ...
Real Estate Law: Provisions in the Agreement of Purchase and Sale: Time for Searches, Future Use, Title, Schedules
Date: September 8, 2010 | Author: Maxim Zavet, BA, JD
Time for searches Before closing a real estate transaction, a real estate lawyer will need time to search title, executions and make off-title searches or inquiries. The title search date in the OREA Agreement sets out the date in which a lawyer has time to do the searches and request that the Vendor’s lawyer rectify ...
Real Estate Law: Goods and Services Tax/Harmonized Sales Tax (GST/HST)
Date: September 8, 2010 | Author: Maxim Zavet, BA, JD
In the OREA standard form agreement (“OREA Agreement”), there is a blank space provided where it should be indicated whether taxes are “included in” or “in addition to” the purchase price. Generally in residential resale transactions, this space is completed with “included in”, but it is essential to be correct because even though a used-residential ...
Real Estate Law: Closing a Real Estate Transaction
Date: August 16, 2010 | Author: Maxim Zavet, BA, JD
Choosing a closing date The closing date can be whenever the parties agree upon, however selecting a closing date on a weekend or statutory holiday will prevent your transaction from being registered because the land registry offices and the electronic registration system are unavailable. If parties so choose to close on those days, alternative arrangements such as closing in ...
Agreements of Purchase and Sale: Fixtures, Chattels and Rental Items
Date: August 13, 2010 | Author: Maxim Zavet, BA, JD
Fixtures and chattels The specification of chattels versus fixtures happens to be one of the more contentious issues arising in a real estate transaction. To recap past articles, generally chattels are generally easily movable property such as household appliances and furniture and fixtures are generally immovable property such as a well in the backyard or a kitchen island. While ...
