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Real Estate

FOLA endorses standardized residential real estate closing documents

Recently, the Working Group on Lawyers and Real Estate undertook the review of five residential real estate closing documents designed to be used in conjunction with the Agreement of Purchase and Sale (APS) approved by the Ontario Real Estate Association (OREA). These documents, which have been successfully used in several Ontario municipalities, have been amended… Read More »

Categories: Areas of Law, Real Estate

Residential Tenancies Act amendments a potential source of claims

townhouse apartments

LAWPRO is monitoring the impact of changes to the Residential Tenancies Act, 2006 introduced in April. Lawyers who represent landlords and the purchasers of rental properties will have significant responsibility for communicating the changes to their clients and for supporting compliance. The article below, prepared for us by Joe Hoffer of Cohen Highley LLP, provides… Read More »

Categories: Areas of Law, Real Estate

Do you know when Teraview on the Web is coming to your region?

Teraview® will be online as early as January 8, 2018, however, the rollout varies based on region. Click here to view the go-live date for your region and the corresponding date when Teraview 9.0 will be discontinued. Once the online version goes live, the previous version will be expired within six weeks and real estate… Read More »

Categories: Real Estate

Can’t review your lender client’s draft title policy?

man reviewing document

The Residential Real Estate Practice Guidelines published by the Law Society state that a lawyer should, before accepting a title insurance policy on behalf of a client, review the draft policy or binder/commitment to identify any inaccuracies or omissions, and to ensure that the promised coverage is as expected and meets the client’s needs. But… Read More »

Categories: Areas of Law, Real Estate, Title insurance

Reflections on technology changes in real estate practice

Facilitating transfers of real estate has been the bread-and-butter of thousands of Ontario lawyers for generations. Despite occasional market wobbles, real estate business has helped firms to flourish in communities of all sizes, often supporting the delivery of family, estates, commercial and even criminal law services. Healthy real estate practices support both lawyers’ own families… Read More »

Categories: 2017 August Managing Change, Areas of Law, Articles, Clerical / Delegation, Communications Errors, Cyber dangers, Features, Inadequate Investigation, LAWPRO Magazine Article Type, Legal Technology, Real Estate, Time Management, Topics

Commercial title insurance: What you need to know

Woman looking at her phone

A discussion regarding title insurance (or any insurance for that matter) requires the understanding that it is insurance. It does not fix problems, it underwrites risks. As lawyers, it is incumbent upon us to be able to convey this clearly to our clients, whether lenders or more likely borrowers/purchasers. In the days of yore, the… Read More »

Categories: 2017 August Managing Change, Areas of Law, Articles, Content Type, Insurance Business, Real Estate, Title insurance

“I will be out of the office…forever” and I don’t want to deal with claims

Are you thinking of changing careers or law firms, selling the practice, or retiring? As other articles in this issue have highlighted, even after you retire, malpractice claims can engage your LawPRO E&O run-off coverage. Real estate lawyers should consider TitlePLUS title insurance since claims covered under the Legal Service Coverage¹ in a TitlePLUS policy… Read More »

Categories: 2017 August Managing Change, Articles, Real Estate, Title insurance, TitlePLUS

Real Estate Malpractice Claims Fact Sheet

hand holding house keys

As the price of real estate in Ontario has steadily risen, so has the dollar value of real estate claims, making it the second most costly area of law for LAWPRO. Breakdown in lawyer/client communication is the most common cause of real estate claims. Busy, high-volume practices often lead to situations where the lawyer does… Read More »

Categories: Factsheets, Real Estate

The future of law: Why the real estate lawyer is the quarterback of the real estate deal

hand holding house keys

On June 22, 2016, surrounded by family and colleagues, Kathleen Waters was honoured with the 2016 Ontario Bar Association’s Award of Excellence in Real Estate. Her remarks included comments on the lawyer as quarterback and advice on moving successfully into the digital future. “I’m a passionate believer in the role of the lawyer as defender… Read More »

Categories: 2017 February Neuroscience, Future of law, Insurance Business, LAWPRO Magazine, LAWPRO Magazine Article Type, Real Estate

Planning to do real estate work? A primer on title insurance and the TitlePLUS program

If you’re planning to do any real estate work when you go into practice, you’ll soon hear about a resource used by many real estate practitioners – title insurance. It’s a type of insurance coverage that lawyers across Canada are telling their clients about to help protect them against some typical problems that might crop… Read More »

Categories: 2017 Student Issue No 5, Articles, Real Estate, TitlePLUS
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