Essentially, the corporation has a deadline or “limitation period” within which that registration must take place, or else it loses its lien-related rights against the unit owner. The big question is whether government measures relating to COVID-19 have “stopped the clock” on that deadline for the time being.
Under the Home Buyers' Plan, an individual can withdraw an amount from his or her own RRSP and use it towards the purchase of a home on a tax-free basis. However, there are certain conditions and limitations
A home inspector was ordered to pay almost $19,000 to a buyer, all because he reported on a significant defect verbally, rather than in writing, in a legal decision that will likely keep home inspectors up at night.
The federal government recently announced a significant change concerning guidelines for borrowers of high-ratio mortgages – a borrower who has a deposit of less than 20 per cent of the purchase price of a home.
Effective Sept. 6, the Ontario government implemented changes to the Residential Tenancies Act 2006 to benefit tenants who are victims of sexual or domestic violence, by allowing them to end a lease early.
Mortgage shopping has its complexities. If you are a real estate professional who is being asked for information and advice from a home-buying client, beware! It’s important that the client gets the proper information.
REM (Real Estate Magazine) is Canada’s premier monthly magazine for real estate professionals. REALTORS®, real estate agents, sales representatives, brokers, owners, administrators, and other real estate industry stakeholders read REM every month for news, analysis, and commentary on Canadian real estate.
REM is independently owned and operated, and is not affiliated with any real estate association or board.