Areas of Law
Never release funds before closing without meeting security requirements under the Condominium Act
Not infrequently, LAWPRO sees claims related to the release of condominium purchasers’ deposits to a vendor prior to closing. The circumstances under which these deposits can be released are strictly limited under the Condominium Act, 1998, S.O. 1998, c.19 (the “Act”), and the legislation does not permit contracting out of security requirements. Prior to the… Read More »
Categories: Areas of Law, Articles, Content Type, Real EstateLenders’ lawyers: beware of fake title insurance policies
While relatively rare, LAWPRO has seen instances of fake title insurance policies. Kathleen Waters, LAWPRO’s President & CEO, touched on the subject at the Law Society’s recent Real Estate Summit. An example of a situation in which a policy has been discovered to be fake is where the lender insured has asked that the borrower’s… Read More »
Categories: Areas of Law, Articles, Content Type, Real Estate, Title insuranceWhat do title insurers expect from lawyers?
Still relatively new in Canada, title insurance is not fully understood by many consumers. Even certain less-sophisticated lenders lack detailed knowledge of the product. The responsibility for explaining title insurance to those who purchase it – and for supporting insureds in obtaining coverage that suits their needs – falls squarely on lawyers’ shoulders. Lawyers are… Read More »
Categories: Areas of Law, Articles, Communications Errors, Content Type, Inadequate Investigation, Real Estate, Title insurance, TopicsYou can rely on the register except when you can’t
As between innocent mortgagees, which has priority when a fraudulent discharge of a first mortgage makes way for additional mortgages? A fraudulent discharge is discovered After a “second mortgage” it issued to Brampton homeowners in December of 2012 went into default in February 2013, lender Secure Capital issued a notice of sale. CIBC, which believed… Read More »
Categories: Areas of Law, Articles, Content Type, Fraud, Real EstateExcess coverage protects growing real estate practices
Is your real estate practice growing? That’s a good thing. But keep in mind that your risk exposure may be growing along with it. A hot market can mean a higher transaction volume, unconditional offers, and shorter closing times. All of these factors place pressure on lawyers, and can increase the chance of an error… Read More »
Categories: Areas of Law, Articles, Content Type, Excess insurance, Real EstateLAWPRO defends lawyers: Opposing inappropriate expansion of lawyer’s scope of responsibility
Advising clients of their rights on a legal matter is a significant responsibility and lawyers have a duty to discharge it with competence and care. But when defending a negligence claim where clients seek to hold lawyers accountable for the unfavourable results of their own business or strategic decisions, LAwPRO’s defence counsel don’t hesitate to… Read More »
Categories: 2015 May - Review of 2014, Articles, Casebook, Civil Litigation, Corporate Law, Criminal Law, Real EstateDocument intentions behind inter vivos transfers
There is a wide range of reasons behind individuals’ decisions to transfer ownership of property. Unfortunately, legal presumptions about transfers don’t always align well with the transferor’s intentions, which can lead to unexpected results. Transfers that are intended to be gifts may be treated as trusts in favour of the transferor; or transfers made for… Read More »
Categories: Areas of Law, Articles, Communications Errors, Content Type, Inadequate Investigation, Malpractice Errors, Wills & EstatesAsk critical questions to head off will challenges
We all know it’s impossible to write an effective will for a client without investigating the details of the client’s circumstances and estate. While this conclusion may seem trite, in recent years LAWPRO has seen an average of 60 claims per year alleging that the lawyer did not investigate key details. This specific error has… Read More »
Categories: Areas of Law, Articles, Communications Errors, Content Type, Inadequate Investigation, Wills & EstatesAre you ready for the Estate Information Return?
In 2011, amendments were made to the Estate Administration Tax Act (EATA). The major amendment was to impose on the Estate Representative the obligation to provide financial information about the estate to the Ministry of Finance. The financial information is used by the Ministry to confirm that the appropriate estate tax has been paid by… Read More »
Categories: Areas of Law, Articles, Content Type, Wills & EstatesRisk management strategies to reduce your risk of a claim under the new Rule 48.14
Effective January 1, 2015, a new Rule 48.14 brought significant changes to the administrative dismissal regime in Ontario. After several hundred claims and more than $7 million in claims costs over the last three years, LAWPRO was happy to see old Rules 48.14 and 48.15 revoked. However, while LAWPRO believes the new rule will stem… Read More »
Categories: 2015 February - LAWPRO 20th, Admin dismissals/Rule 48, Articles, Civil Litigation, Practice Tips, Time Management