Real Estate
You 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 EstateDemystifying condominiums with better communication
Condominium ownership has a unique set of rules and responsibilities. Helping your clients understand what they are getting into can reduce your risk of a malpractice claim. Start off on the right foot at the beginning of your relationship by sending a detailed retainer letter setting out what you will or will not be doing… Read More »
Categories: 2015 February - LAWPRO 20th, Articles, Communications Errors, Real Estate, TitlePLUSHow simple mistakes can lead to large claims
It’s easy to think that, at least in your office, a major claim couldn’t possibly happen. But LAWPRO’s experience shows that errors, innocent oversights and gaffes in any type of practice can lead to big problems. And if you or your firm don’t have adequate insurance in place to address the claim, you could be… Read More »
Categories: 2015 February - LAWPRO 20th, Articles, Civil Litigation, Corporate Law, Franchise, Inadequate Investigation, Independent Legal Advice, Personal Injury, Personal injury, Real Estate, Wills & EstatesWould you get caught in a trust vs. gift dispute when handling purchase funds?
It can be uncomfortable to talk about money. When handling real estate purchases and domestic contracts, however, lawyers can’t afford to accept purchase funds on a “no questions asked” basis. Why not? Because if purchase funds come from somebody other than the prospective owner, the doctrine of resulting trust presumes that, regardless of who is… Read More »
Categories: 2015 February - LAWPRO 20th, Articles, Could This Happen to You?, Real EstateYou may be exposed to a claim if you release a private mortgage advance to a third party
LAWPRO has become aware of a new exception to coverage in certain title insurance policies which could expose real estate practitioners to claims from their private lender clients. The issue has recently arisen in connection with private residential mortgage transactions, and in particular where the lender and borrower are separately represented, as required, because the… Read More »
Categories: Alerts, Real Estate, Title insurance, TitlePLUSManage malpractice risk by recognizing cultural diversity
In the social realm, cultural differences can be awkward for those on both sides; but in the context of legal services, cross-cultural misunderstandings and other culture-related factors can occasionally lead to malpractice claims against lawyers. The good news: claims with a cultural component are easily preventable as they tend to reflect certain recurring themes. One… Read More »
Categories: 2014 September Diversity, Articles, Civil Litigation, Communications Errors, Criminal Law, Diversity, Practice Tips, Real EstateDoes title insurance bring benefits to the primary professional liability program?
We all know that notwithstanding the rise of title insurance in Ontario, claims arising from real estate practice are still a large (and in many years, the largest) exposure for the primary professional liability program that LAWPRO provides for the Law Society’s lawyer-licensees (the “E&O program”). We have explored why in other articles and settings…. Read More »
Categories: 2014 September Diversity, Articles, Insurance Business, Real Estate, Title insuranceTitle insurance policies are like a box of chocolates – No two policies are the same
“The lawyer should be knowledgeable about title insurance and discuss with the client the advantages, conditions, and limitations of the various options and coverages generally available to the client through title insurance,” states Rule 2.02(10) of the Rules of Professional Conduct. This obligation was brought home in a recent malpractice case where the lawyer did… Read More »
Categories: 2014 September Diversity, Articles, Real Estate, Title insurance, TitlePLUS