Real Estate
Notice of Security Interest (NOSI) ban effective June 6, 2024
The Ontario Government has passed Bill 200, the Homeowner Protection Act, 2024, in the Legislative Assembly of Ontario, which received Royal Assent on June 6, 2024. The Personal Property Security Act was amended to specify that a notice of security interest (NOSI) may not be registered in a land registry office with respect to collateral… Read More »
Categories: Online Only, Real EstateTitlePLUS: If you have a claim reporting it quickly makes a real difference
The key reason for prompt reporting of a claim is to keep options open to look for ways to resolve the claim, and not have our position prejudiced by delay or actions taken by the policyholder before the claims examiner has had a chance to complete their investigation. This is especially important in claims that… Read More »
Categories: 2024 June - Time for Tomorrow, Articles, Real Estate, TitlePLUSVacant Home Tax: Is your client buying or selling?
Several regions in Ontario have introduced or are contemplating the introduction of a vacant home/unit tax (VHT). The failure to file a declaration of occupancy status (“VHT declaration”) has led to complications for both sellers and buyers. If homeowners fail to submit the VHT declaration by the stipulated deadline, the property is presumed vacant. This… Read More »
Categories: Online Only, Real EstateUnlocking Real Estate Wisdom (2024)
Join us as we provide a practical summary of recent legislative developments impacting the industry, ID verification rules and procedures, the CRA’s new trust reporting rules, legal advice for bare trustees, and essential tax considerations impacting real estate practitioners.
Categories: CPD, CPD Real Estate, Real EstateTitle insurance matters: ‘One of these things is not like the other’
You may recall the title as a lyric from a song in a popular kids show many years ago, reinforcing the benefits of being aware and noticing differences. This same lesson applies when comparing the legal protection coverages offered by other title insurers that compete with the Legal Service Coverage that’s included in TitlePLUS policies…. Read More »
Categories: 2024 March - The Confidence Client, Articles, Real Estate, Title insurance, TitlePLUSCRA’s new trust reporting requirements
[Updated March 28, 2024] This year’s tax filing season may be looking different for some people and corporate entities due to new trust reporting rules. These changes, while presenting challenges, also offer legal professionals an opportunity to educate their clients. Overview Previously, trusts were only required to file a T3 Trust Income Tax and Information… Read More »
Categories: Corporate Law, Family, Online Only, Real Estate, Tax, Wills & EstatesImportant Reminder: Update to Non-Resident Speculation Tax
Effective October 25, 2022, the Non-Resident Speculation Tax (NRST) rate was increased to 25 per cent from 20 per cent. It applies to the purchase or acquisition of an interest in residential property located anywhere in Ontario by individuals who are not Canadian citizens or permanent residents of Canada, or by foreign corporations or taxable… Read More »
Categories: Online Only, Real EstateTips for Real Estate Lawyers (2022)
Join our panel featuring leading real estate lawyers and LAWPRO counsel who will share practical tips about key risk areas and how to effectively manage them.
Categories: CPD, CPD Real Estate, Real EstateUpdate about fund transfers
There has been much written about how lawyers receive and deliver money from their trust accounts on behalf of their clients as part of a transaction. The issue comes down to ensuring good funds are being dealt with in order that value is exchanged. In Canada, our banking system works on the basis of trust,… Read More »
Categories: Cyber dangers, Finances, Firm Management, Legal Technology, Online Only, Real EstateTitlePLUS: A living example of innovation of LAWPRO
When considering the future of TitlePLUS, we asked ourselves if the service was still living up to its original principles and – perhaps more importantly – whether those principles were still valid. Companies know their products need to evolve with the needs of their customers and the marketplace. If a product changes too fast, customers… Read More »
Categories: 2022 June - After Covid 19, Articles, Real Estate, Title insurance, TitlePLUS