Unconditional offers to buy are binding, appeal court rules

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An “unconditional” offer is one that is made without any conditions attached – such as the buyer first being able to obtain financing, obtain a satisfactory home inspection, sell their existing home and/or other stipulations.

Beware the coming changes to trusts

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As you may have been advised by your accountant and/or your tax lawyer, the CRA has introduced new disclosure and reporting rules effective for the 2021 taxation year. Will these new requirements open a Pandora’s Box?

Does COVID-19 impact condo lien deadlines in Ontario?

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Essentially, the corporation has a deadline or “limitation period” within which that registration must take place, or else it loses its lien-related rights against the unit owner. The big question is whether government measures relating to COVID-19 have “stopped the clock” on that deadline for the time being.

Setting up a home business: What you and your clients should know

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If you or your clients are thinking of operating a business from their home, here are some things to consider.

Kitec: What buyers and sellers need to know

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Some homes that contain Kitec have reportedly been riddled with problems: deterioration of the fittings, as well as the disintegration of the pipes themselves in some cases.

Check your wills: A questionable ruling

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Recently an Ontario court handed down an important ruling in a case called Re Milne Estate, and it’s one that could impact the validity of your wills.

Marijuana and condos: You can’t smoke just anywhere

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What condo owners and tenants may not realize is that the right to use cannabis is not unrestricted. The legalization of marijuana does not give people free rein to smoke just anywhere they like.

New warranty coverage for Ontario condo conversions

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Effective Jan. 1, 2018, warranties previously offered only on newly constructed buildings now apply to residential condominium conversion projects (RCCPs) - for example warehouses or other types of industrial structures.

A reminder about the provisions of the Home Buyers’ Plan

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Under the Home Buyers' Plan, an individual can withdraw an amount from his or her own RRSP and use it towards the purchase of a home on a tax-free basis. However, there are certain conditions and limitations

Directors could be on the hook for investor losses

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This decision by the Supreme Court of Canada marks an important development in the law relating to directors' personal liability and refines our understanding of this key component of Canadian corporate law.