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Permanent Residence (PR) in Canada for Ukrainians

Permanent Residence (PR) in Canada for Ukrainians As Canada welcomes Ukrainian immigrants, the Permanent Residency (PR) Family Reunification program serves as a beacon of hope for families separated by borders. This comprehensive guide will walk you through eligibility criteria, the application process, and expectations after applying. CUAET Program for Ukrainians The Canada-Ukraine Authorization for Emergency […]

Understanding Breach of Real Estate Contracts in Ontario: Rights and Remedies

Understanding Breach of Real Estate Contracts in Ontario: Rights and Remedies In the complex world of real estate transactions, agreements are vital for outlining the terms and conditions between buyers and sellers. When one party fails to uphold their obligations, it results in a breach of contract. This blog post will explore the key components […]

Mortgage Investment Corporations in Ontario and Income Tax Act (MICs)

Mortgage Investment Corporations in Ontario and Income Tax Act (MICs) In the early 1970s, the government of Canada believed a housing crisis was looming. In 1973, they created MICS as a part of the Residential Mortgage Financing Act to encourage private lending and make investments in residential mortgages and real estate more accessible to smaller […]

Breakdown of Power of Sale in Ontario

Breakdown of Power of Sale in Ontario When a homeowner in Ontario falls behind on their mortgage payments, the lender has the legal right to sell the property to recoup the money owed. This is known as a power of sale. While this process can be stressful and overwhelming for homeowners, understanding the details of […]

Ultimate Guide on Effective Collaboration with a Real Estate Law Firm for MICs

Ultimate Guide on Effective Collaboration with a Real Estate Law Firm for MICs For Mortgage Investment Corporations (MICs) operating in Ontario, establishing a strong legal partnership is crucial to navigating the regulatory landscape and ensuring long-term success. In this post, we’ll outline key factors for effective collaboration between MICs and their real estate law firms. […]

Relocating from the US to Canada: Immigration options for laid-off tech workers

Relocating from the US to Canada: Immigration options for laid-off tech workers Some of the world’s biggest tech companies (i.e., Google, Meta, Microsoft, and Amazon) have collectively laid off more than 150,000 workers in recent months in the US alone. Amazon, for example, has laid off approximately 18,000 employees. In the coming weeks, they will […]

Tenanted residential properties under the power of sale in Ontario

Tenanted residential properties under the power of sale in Ontario For tenants, borrowers and lenders, it’s essential to know the legal implications when a lender takes possession of a residential property subject to a tenancy agreement. What happens to tenanted residential properties under the Power of Sale in Ontario? In accordance with the Mortgages Act, […]

Breakdown on Fees That Can be Claimed by a Lender.

Breakdown on Fees That Can be Claimed by a Lender. As a lender, it is important to understand what fees you can legally charge borrowers. While there are many types of fees that lenders may want to charge, not all fees are allowable under the law. It is important to understand what fees are permissible […]

Understanding the Notice of Sale and Its Legal Requirements

Understanding the Notice of Sale and Its Legal Requirements A notice of sale is a document that a lender issues to a borrower who has defaulted on their mortgage, notifying them that the lender intends to take possession of and sell the property. The notice of sale serves as the lender’s authorization to sell the […]

Why Do I Need a Real Estate Lawyer in Ontario?

Why Do I Need a Real Estate Lawyer in Ontario? Buying or selling your real estate property is one of the most significant transactions in a person’s life. Even more so when you’re a first-time buyer. Having an experienced real estate lawyer and realtor on your team is an absolute necessity. The Nava Wilson team […]