Agreements between family members are often informal and not reduced to writing, even if they involve substantial assets such as real estate. The lack of a written agreement may lead to years of costly litigation.
In Tsui v. Zhuoqi, Ontario’s Superior Court of Justice addressed two complex issues. First, what duties do sellers owe purchasers when damage to a property may be substantial and second, what constitutes substantial damage to property?
A buyer who wishes to take advantage of a seller’s breach of the APS and seek the return of the deposit must indicate that they intend to do so within a reasonable time, or else they will remain bound to complete the transaction.
In 2016 Jing Li purchased a property in Langley, B.C. for $559,000. She brought a class-action lawsuit against British Columbia to challenge the constitutionality of the foreign buyer tax.
As a lawyer, when advising buyers of pre-construction homes or condominium units during the 10-day cooling-off period after signing an agreement, I always start off the consultation by saying the same thing. These Agreements Of Purchase And Sale (APS) are very one-sided in the builder’s favour.
When entering into an Agreement of Purchase and Sale (APS) for a property, buyers and sellers must remain cognizant of the precise language used and conditions they need to follow for an offer to be binding.
It’s a peculiar asset when it comes to divorce, because under Ontario’s Family Law Act, the cottage may be considered a second matrimonial home. Here are some facts you should know about the post-divorce ownership and use of your holiday home.
What happens when a real estate agent spends the time and effort looking for a property but doesn’t enter into a written agreement with the clients to do so?
2100 Bridletowne Inc. v. Ding, 2021 ONSC 2119 demonstrates the issues that may arise when a buyer takes possession of a property before the transaction is completed.
In Notsch-Kupcho v. NY Brand Studio Inc, 2021 ONSC 4271 (CanLII), Justice F.L. Myers was faced with this situation in a dispute involving a telephone conversation between a commercial real estate broker and his client over the amount of commission the client agreed to pay.