When buying a home, the standard real estate contract will always require a deposit. The contract may then go on to provide for a further payment of cash, which, together with the proceeds of an anticipated mortgage along with the deposit, make up the purchase price. The further cash payment
Take advantage of the cooling off period to avoid getting burned on a newbuild condo deal. Brand new condo purchases hold a unique status in Ontario’s real estate world, carrying with them a slew of extra steps and adjustments that can easily catch out ordinary consumers. As a result, provincial
There’s no better time than the present to get your estate in order. I’ve heard every excuse in the book from procrastinators who say they’re too young, too old, too poor or too scared to think about getting a will or a power of attorney in place. But the truth
Parents could be sowing the seeds of a future estate battle when they set up a joint bank account with a child. There are good estate planning reasons for owning property jointly with a beneficiary – it can be an effective way to transfer funds while avoiding the 1.5 per-cent probate tax otherwise payable on assets in a person’s estate.
Administering an estate is no cakewalk, so make sure your choice for executor knows what they’re getting themselves into ahead of time. There is no doubt that the responsibility associated with the position of estate trustee calls for the appointment of someone you know well and trust implicitly. But there’s
Virtual witnessing of wills has been a great innovation for the pandemic, but there is still room for improvement before making it permanent. Since April, emergency regulations prompted by the COVID crisis have allowed testators to have their wills witnessed remotely, without the need to meet in person with their
