COVID-19 and Your Upcoming Real Estate Transaction
In light of the developing COVID-19 pandemic Mann Lawyers LLP remains open and available to assist our clients through this difficult time. We are committed to doing our part in promoting “social distancing’ to try and slow the spread of COVID-19 and we have implemented a number of measures in our office to protect our […]
3 Precautions When Buying a House After Separating
One of the first talks that separating couples have is whether or not either party is moving out of the house. Kids or one’s own finances oftentimes make it clear that one can’t afford to leave. Some people, however, will move out, whether it’s to a family member’s home or to a rental. Sometimes, people […]
Thinking About “Just Adding a Name” to Your Title? Think Again.
In today’s real estate market it is becoming more common for relatives to add their names onto the title of a house to help the real owner — typically a child or parent — qualify for a mortgage. Many others look to add a relative to avoid estate administration taxes when the owner dies. What […]
Tips for Working with a Lawyer on a Real Estate Transaction
Buying or selling a property can be a very exciting time. So many intricate details, all with time sensitivities, and so many different service providers to interact with – it can be overwhelming. Your real estate lawyers coordinate the “business side” of the transaction – the nitty-gritty of transferring title in exchange for money. Paying […]
Title – What’s on Your Deed
When you are purchasing a property with someone else, you will be asked how you wish to take “title” to the property. Title is also commonly known as the ownership of a property. You will have the following choice to make – will you take title as joint tenants or tenants in common. The main […]
What do the new mortgage qualification rules mean for those looking to buy a home?
If a house is on your wish list for 2018, you may have heard about changes to the qualification rules for mortgages. There are new rules in effect as of January 1, 2018 that will affect your purchasing power, so it is important to understand these changes before beginning the search for your dream home. In […]
New Requirements for Ontario Corporations Relating to Land/Building Ownership
There are recent amendments to Ontario’s Corporate legislation which you should know about. One of the most important of which will impose additional record keeping requirements on Ontario Corporations. In addition to existing minute book maintenance obligations, an Ontario Corporation is now required to: create and maintain at its registered office a register of the […]
Municipal Land Transfer Tax Will Not Expand Beyond Toronto
Good news for all those interested in real estate. On December 1, 2015, the Municipal Affairs and Housing Minister, Ted McMeekin, announced that the provincial government has dropped its plan to expand land transfer taxing powers to municipalities, other than Toronto, which already has this power. Provincial land transfer tax is based on the purchase […]
Thinking of Buying Your First Home?
For many people, the decision to become a home-owner is not an easy one. There are many reasons why people are hesitant to jump into home ownership but part of the reluctance can be the home-buying process itself. Uncertainty regarding down payments, interest rates, and surveys is common but the bigger question is often “where do I begin?” To assist […]
