Real Estate
Notice to the Real Estate Bar re iPro Realty Ltd. transactions
What are lawyers to do when closing a transaction that involves iPro Realty Ltd? The regulator, Real Estate Council of Ontario (RECO), closed the brokerage, iPro Realty Ltd. (iPro), effective August 19, 2025. iPro had 17 offices and 2,400 agents. There was a regulator approved sale of iPro’s assets to a new brokerage, iCloud Realty… Read More »
Categories: Real EstateA real estate cautionary tale – Tribulations of tax check boxes
The client was buying a multi-million-dollar property, located geographically outside of the lawyer’s usual jurisdiction. Fully doable with province-wide Teraview access and today’s technology. The law office prepared the transfer and land transfer affidavit. The box indicating the transaction was subject to other taxes was checked. However, the lawyer practices in a jurisdiction where there… Read More »
Categories: Real EstateNew Tarion Rule: Purchaser Registration Requirement
To maintain Tarion coverage, purchasers of new freehold homes will need to register their agreement of purchase and sale (APS) within 45 days of entering into the APS, or they could lose some deposit coverage. This requirement comes into effect on July 1, 2025. This new registration requirement for purchasers is meant to assist Tarion… Read More »
Categories: Real EstateIgnoring the LRO: A Cautionary Tale for Real Estate Lawyers
In this real-world example, both the vendor’s and purchaser’s lawyers were advised by the Land Registry Office (LRO) that the legal description of the property did not meet registration requirements. The LRO warned that if the issue was not fixed, both the transfer and the mortgage would be withdrawn. Despite the clear warning, neither lawyer… Read More »
Categories: Real EstateVacant Home Tax program expands to new regions
Hamilton, Windsor, and Sault Ste. Marie have implemented a Vacant Home Tax (VHT), joining Toronto and Ottawa in introducing this levy on vacant residential properties. Lawyers should be familiar with the rules when advising on real estate transactions and are encouraged to review our guidance on this issue.
Categories: Real EstateNavigating NOSIs and PPSA: A practical approach for lawyers
Real estate lawyers’ due diligence requirements have changed since the Ontario ban on filing a notice of security interest (NOSI) on financed or leased consumer goods/fixtures in Ontario. This article provides guidance on avoiding unsatisfied clients and understanding secured party claims against a seller’s goods and fixtures registered under the PPSA.
Categories: Real EstateNotice of Security Interest (NOSI) ban effective June 6, 2024
The Ontario Government has passed Bill 200, the Homeowner Protection Act, 2024, in the Legislative Assembly of Ontario, which received Royal Assent on June 6, 2024. The Personal Property Security Act was amended to specify that a notice of security interest (NOSI) may not be registered in a land registry office with respect to collateral… Read More »
Categories: Real EstateVacant Home Tax: Is your client buying or selling?
Several regions in Ontario have introduced or are contemplating the introduction of a vacant home/unit tax (VHT). The failure to file a declaration of occupancy status (“VHT declaration”) has led to complications for both sellers and buyers. If homeowners fail to submit the VHT declaration by the stipulated deadline, the property is presumed vacant. This… Read More »
Categories: Real Estate