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Assignment of Residential Real Estate Transactions – Part 1 of 3 (Series)
Ontario’s housing market has fluctuated wildly over the past 18 months. Availability of low residential mortgage rates during the early days of the COVID pandemic fueled record-setting home sales and frequent bidding wars. As mortgage rates have risen, vendors and...
House Insurance vs. Title Insurance
You’ve just bought a house. You need insurance – but what kind and why? In Ontario, house insurance is not mandatory by law, however, most Lenders require that you obtain it, and most people want to have it. Generally speaking,...
The Federal Underused Housing Tax Act – What you Need to Know
What is It? The Federal Government recently introduced an annual 1% Underused Housing Tax on the ownership of vacant housing in Canada. The Underused Housing Tax Act is now in effect. What Properties are Subject to the Underused Housing Tax?...
Amendments to the Prohibition on the Purchase of Residential Property by Non-Canadians Act
Amendments to the Prohibition on the Purchase of Residential Property by Non-Canadians Act On January 1, 2023, the federal government implemented the Prohibition on the Purchase of Residential Property by Non-Canadians Act and regulations (together, the “Act”) barring non-Canadians from...
