Real Estate
Everything old is new again: Will the return of a broader rent control regime haunt the Ontario real estate bar?
For decades the existence of rent control has posed a risk to Ontario real estate lawyers acting on the purchase and mortgaging of residential rental property. The range of affected properties is immense: From a basement apartment to a rented single family house to the largest multi-residential complexes in the province, many real estate files… Read More »
Categories: Real Estate, Areas of LawNew Rule on Advertising of Fees for Residential Real Estate Transactions
This is a November 2017 e-bulletin from the Law Society of Upper Canada. Convocation approved amendments to the Rules of Professional Conduct (“Rules ”) in September 2017 with respect to advertising of fees when acting on residential real estate transactions. The new rule and its commentary provide guidance on the way in which lawyers advertise… Read More »
Categories: Real EstateNotice 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, Technology