Terminating an Agreement of Purchase and Sale: Warranties vs Conditions
Virtually every real estate transaction is carried out by way of a written contract. The contract is composed of various terms. Often one party is in breach of one of the terms of the contract. Whether the non-breaching party may properly terminate and refuse to close depends on the nature of the term that is being breached. Generally speaking, there are two types of contractual terms or promises: conditions and warranties.
Marijuana Grow-op Houses – What You Need to Know When Buying a House
Although the possession of marijuana under various circumstances was decriminalized in Canada in 2018, many residential properties were, and no doubt continue to be, used as “grow-ops” to produce marijuana.
New Rules – Ontario Corporations Required to Maintain a Register of Real Estate Interests Owned
Rodney Ikeda, ikeda@gsnh.com Corporations incorporated under the Ontario Business Corporations Act will be required to maintain a register of all real estate ownership interests that the corporation has. This register is to form part of the minute book of the corporation. The new rules come into effect on December 10, 2016. In particular, a Corporation is required […]
Builder Issues with Tarion
Builders Arbitration Forum and Alternatives to the Builders Arbitration Forum Tarion, pursuant to Bulletin 41, created the Builders Arbitration Forum (BAF). Builder Bulletins are promulgated from time to time by Tarion to set out requirements builders must meet as part of the terms and conditions of continued registration. Bulletin 41, does not have the force […]
