In Kazakevich v. Sychev, the Ontario Superior Court of Justice affirmed when an Agreement of Purchase and Sale (APS) will be kept alive, preventing a buyer’s release from their contractual obligations.
From what I have read, the demand for cottage properties has soared during COVID-19. City folk are eager to get out of the city for a change of scenery, especially since many people are still working from home.
With divorce rates expected to soar in the coming months, it is important to arm yourself with the knowledge you need to assist clients in working through the sale of their home under stressful circumstances.
As you may have been advised by your accountant and/or your tax lawyer, the CRA has introduced new disclosure and reporting rules effective for the 2021 taxation year. Will these new requirements open a Pandora’s Box?
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