Breaches In Real Estate Transactions
An agreement of purchase and sale (“APS”) becomes a binding agreement when both parties sign the agreement and all conditions have either been fulfilled or waived. Once it is a binding agreement, if either party does not complete the transaction, this is considered a breach. A breach of an APS and sale occurs when one […]
An Overview To Terminating A Tenancy
Fault Terminations Can be done prior to the end of the lease The reason must be one listed under the Act, specifically sections 59-67. Reason for Termination Form Number of days for Notice Non-payment of rent N4 At least 14 days Misrepresentation of Income N6 At least 20 days Illegal acts in the unit N6 […]
All You Need To Know About Getting An HST Rebate
Today, the cost of purchasing a new home in Ontario is higher than ever. This is uniquely so when you are buying a home that is newly constructed. These houses are subject to HST at a rate of 13%, payable on the sale price. This is the case whether it is a freehold/townhouse or condominium. […]
What You Need To Know About Getting A Mortgage
Whether we complete the purchase of your home or not is largely dependent on financing. Financing in the form of a mortgage can come from a lending institution such as a bank or a private lender. The reality is that many people continue to rely on mortgages because of the extremely high costs involved in […]
Your Guide To The Standard Purchase Transaction
The purchase of your new home is an exciting time. It can be quite overwhelming as well. From signing the Agreement of Purchase and Sale to executing the final closing documents is a process. At Nava Wilson LLP, we are here to make that process as smooth as possible. While we have our responsibilities, you, […]
Your Guide To The Standard Form Lease
Starting April 30, 2018, the Government of Ontario implemented a Standard Form Lease for all tenancy agreements commenced on this date or after. However, it is not retroactive and therefore leases entered prior to this date do not require that their agreements be updated to reflect this new standard form lease. This new lease applies […]
Assignment of Agreement of Purchase and Sale
An Assignment of an Agreement of Purchase and Sale is when an original purchaser under an Agreement of Purchase and Sale permits a different party to take over the contract. New homes, condominiums and even re-sale properties can be assigned. Purchasers usually assign their Agreement of Purchase and Sale with the view of making a […]
What You Need To Know About A Notice Of Termination
The Notice of Termination (“Notice”) is an essential step in the landlord’s process of evicting a tenant. The Board will not terminate a tenancy and order eviction of the tenant unless the tenant has received a valid Notice and the landlord has successfully proved the ground claimed. Make sure to include the names of all […]
The Maintenance Standards Of Rental Units
Under s. 20(1) of the Residential Tenancies Act, the landlord must keep the rental unit and property in good repair and comply with all health, safety and maintenance standards. The tenant on the other hand, under s. 33 and s. 34, the tenant is responsible for ordinary cleanliness of the rental unit. The tenant must […]
The Seller’s Obligation to Disclose Defects in the Property
Where a defect is readily discoverable upon an ordinary inspection, which is known as a patent defect, the onus is often on the purchaser to inspect and discover patent defects. This is known as the doctrine of caveat emptor or buyer must beware. The seller is under no obligation to disclose a patent defect that […]