Real Estate
Notice to Lawyers Concerning Syndicated Mortgages
On Oct. 24, 2017, the Law Society of Upper Canada issued a notice to lawyers concerning syndicated mortgages and syndicated mortgage investments. A syndicated mortgage is a mortgage where two or more persons participate as investors. Syndicated mortgages can be as simple as two people lending to a third person, the loan secured against a… Read More »
Categories: Real EstateCommercial title insurance: What you need to know
Commercial title insurance is a different product than a residential policy. For the most part, residential policies can be characterized as being “one size fits all” or “off the rack.” Yes, there are times when a residential policy may require an amendment or an exclusion to accommodate a particular situation, but often times, assuming the… Read More »
Categories: Real EstateThe CBA’s Mortgage Instruction Toolkit
The Mortgage Instructions Toolkit is a practical resource for residential real estate lawyers in Canada. Over the last few years, lender instructions have increased in scope and lawyers may find themselves being pressured to give opinions and assume responsibility for matters outside their areas of expertise. The result is a significant increase in potential liability…. Read More »
Categories: Real Estate, Practice AidsWhat kinds of PPSA claims does LAWPRO see?
What kinds of PPSA claims does LAWPRO see? Problems with registrations under personal property security legislation (such as the Ontario Personal Property Security Act (PPSA)) are common causes of claims against corporate/commercial lawyers, and indemnity costs associated with these claims can be high. Approximately ten claims involving allegations of PPSA-related mistakes are reported to LAWPRO… Read More »
Categories: Real EstateOntario dusts off the escheats rulebook – time to dust off your advice?
Most lawyers practising today remember the Ontario Escheats Act – if at all – as a terse one-page statute of limited application. However, surprise! While there’s no reason to anticipate a boom in property forfeited to the Crown, when it does happen, it will now be more complicated. This is thanks to the replacement, in… Read More »
Categories: Real EstateReflections on Technology Changes in Real Estate Practice
Online real estate portals support client satisfaction, risk management, and profitability Facilitating transfers of real estate has been the bread-and-butter of thousands of Ontario lawyers for generations. Despite occasional market wobbles, real estate business has helped firms to flourish in communities of all sizes, often supporting the delivery of family, estates, commercial and even criminal… Read More »
Categories: Real Estate, TechnologyAlways up-to-date LTT and NRST Frequently Asked Questions
Last updated Feb 9/18 To help real estate lawyers take steps to comply with the recent changes to the Land Transfer Tax and the new Non-Resident Speculation Tax (NRST), LAWPRO created this page to provide answers to the questions we are hearing most frequently from Ontario lawyers. Thanks to an ongoing and helpful dialogue with… Read More »
Categories: Real EstateFrequently asked questions and a CPD program on the LTT and NRST changes
LAWPRO and other stakeholders have had discussions with the Ministry of Finance on some of the questions and issues raised by the changes to the Land Transfer Tax (LTT) and the new Non-Resident Speculation Tax (NRST). To assist the real estate bar, we are sharing information provided to us by representatives of the Ministry of… Read More »
Categories: Real Estate