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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: Lending & Mortgages
Issues in Mortgage Law
Date: July 29, 2010 | Author: Jeff Levy, HBSc, MBA, CFA, AMP, JD
Foreclosure: When and Why? It is not uncommon to combine a claim for foreclosure with a claim for the amount due under the covenants contained in the mortgage. Thus, an action for foreclosure is for the recovery of the mortgaged property itself and is a means by which the mortgagor’s equity of redemption is ended, ...
Mortgage Enforcement: What Can Go Wrong?
Date: July 29, 2010 | Author: Jeff Levy, HBSc, MBA, CFA, AMP, JD
Notice of Sale and Requisitions If a purchase is made under power of sale, it is necessary to ensure that the vendor is authorized to conduct the sale and that the power of sale proceeding has been properly commenced. A requisition, in this respect, by purchaser’s legal counsel is expected to bring forth a statutory ...
Mortgage Enforcement: Issues for Discussion
Date: July 29, 2010 | Author: Jeff Levy, HBSc, MBA, CFA, AMP, JD
Introduction Common issues expected to arise and confront legal counsels in mortgage enforcement practice, whether from the mortgagor’s perspective or from the lender’s perspective are under discussion here. Divided into ten sections, each of which addresses a discrete point, the purpose is to assist counsels in identifying the relevant issues, the common problems, and the ...
REAL ESTATE: Depending on the age and type of property, the following off title searches may be necessary!
Date: April 28, 2010 | Author: Jeff Levy, HBSc, MBA, CFA, AMP, JD
Occupancy permits: For a newly built or renovated dwelling or an extension or addition thereto, it is necessary to find out whether or not the local municipality has issued an occupancy permit under its building by-law or property standards by-law or under the Ontario Building Code. However, there could be several reasons why an occupancy permit ...
REAL ESTATE: The necessary off title searches when buying a property!
Date: April 27, 2010 | Author: Jeff Levy, HBSc, MBA, CFA, AMP, JD
There are other searches besides a title search, that are necessary to assure title and enhance the marketability of a property. The purpose of these searches are to determine if there are any statutory liens or orders that may affect a property, and if a property complies with municipal by-laws or other statutory requirements. Depending ...
TYPICAL IDENTITY FRAUD SCHEMES AND THEIR RED FLAGS
Date: April 8, 2010 | Author: Jeff Levy, HBSc, MBA, CFA, AMP, JD
Identity fraud is inseparable from identity theft because without the second the first can not be perpetrated. Generally, the purpose of it is illegal financial gain, while terrorists and criminal groups do so to divert the attention of law enforcement authorities from the true perpetrators of crimes. Like a blessing gone awry, Internet and modern ...
TYPICAL MORTGAGE FRAUD SCHEMES AND THEIR RED FLAGS
Date: April 7, 2010 | Author: Jeff Levy, HBSc, MBA, CFA, AMP, JD
According to industry estimates, losses from mortgage fraud in Canada range into the hundreds of millions of dollars annually. Some criminal groups are each responsible for losses, primarily to financial institutions, of tens of millions of dollars. Mortgage fraud can leave victims with inflated property values, higher property taxes, an inability to sell their homes, ...
TYPICAL REAL ESTATE FRAUD SCHEMES AND THEIR RED FLAGS
Date: April 5, 2010 | Author: Jeff Levy, HBSc, MBA, CFA, AMP, JD
Describing real estate fraud means visiting a dark place where suspicious characters roam around, unlawful acts are committed brazenly, and you do not know who you are: because your identity has been stolen. Rhetoric apart, real estate fraud consists of a broad group of fraudsters which the industry faces much to its peril. Among its different ...
MORTGAGE DEFAULT: Power of Sale or Foreclosure?
Date: March 31, 2010 | Author: Maxim Zavet, BA, JD
Breif summary of two mortgage remedies, foreclosure and power of sale.
BUYING A RESIDENTIAL INCOME PROPERTY – A Primer
Date: March 4, 2010 | Author: Maxim Zavet, BA, JD
With the Ontario real estate market demonstrating continued resilience, many people are still putting their confidence in real estate as an investment option across Ontario. These people are buying income properties such as student housing, multiplexes, apartment buildings and mixed-use residential/commercial properties. An income generating property is one that results in a positive cash flow ...
