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Martin Rumack

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Toronto lawyer Martin Rumack’s practice areas include real estate law, corporate and commercial law, wills, estates, powers of attorney, family law and civil litigation. He is co-author of Legal Responsibilities of Real Estate Agents, 4th Edition, available at the TREB bookstore and at LexisNexis. Visit Martin Rumack’s website.

Some important tips for rural and cottage property buyers

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The market for recreational properties continues to boom. Make sure there are no hidden surprises once the deal is done. Here are a few tips.

Pros and cons of reverse mortgages

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Even for those who have a full understanding of what a mortgage is, the term “reverse mortgage” may be unfamiliar to many Canadians. This article intends to provide the high-level basics.

Ontario’s new estates law changes – what you need to know

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Estates law in Ontario has undergone a noteworthy change: There has been a sizeable increase to the value of what is known as a surviving spouse’s “preferential share” of the other spouse’s estate.

Considering listing a short-term rental in Toronto? Read this first

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In the City of Toronto, the rules around hosting, offering or providing short-term rentals are not as free-wheeling and flexible as they were previously, or as one might hope.

Court awards buyers $150,000 after seller reneges on house deal

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An Agreement of Purchase and Sale is just like any other legal contract: Once duly signed, it is binding and must be honoured according to its terms. In a recent case, the seller of a home learned this principle the hard way.

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.

Help your clients go mortgage shopping

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A commitment to the right (or wrong) mortgage can last for years and years, and will have a serious impact your finances. Here are the key factors your clients must consider.