Last week, I talked about what I do on a purchase. This week, it’s about sales. Some of the work is similar between a purchase and a sale. I will still review an offer if the seller wishes to have that done, and we open the file in the same manner and start working on...
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cesia@wall-arm.ca
What happens to an RESP when you die?
I have a number of clients who have young children; often, they own Registered Education Savings Plans to help with their children’s education when the time comes. RESPs are different from other registered investments. Rather than being able to name a designated...
What does a lawyer do on a purchase?
Most of the time, for most people, what I do on your real estate deal is a bit mysterious. You send over your agreement, and a few weeks or months later, you go in to sign paperwork. So, what exactly have I been doing that whole time? The first thing I do, if it’s in...
What to do when a joint tenant dies
I get asked this question a lot: my spouse just passed away. What do I have to do to remove him/her from title? The short answer is, you don’t. While you certainly can take steps right away to do a survivorship application, which takes your spouse off title, you don’t...
Happy Canada Day!
I hope that everyone in the Great White North is enjoying some time off with their families today. I will be back next week - happy Canada Day!
What exactly is title insurance?
In very circular logic, title insurance protects your title. There are a number of things that title insurance actually protects against. From a neighbour’s fence encroaching onto your property, to the seller not actually getting a permit to rewire the house, to there...
Top five mistakes people make with wills
There are a lot of things that can go wrong with your estate plan. Here are five: You don’t talk to your family. Don’t assume that everyone will be happy with the decisions you made, and that they will go along with everything. Ask your executor and guardian of minor...
If it’s important, get it in writing
What do you do if the listing says one thing, and it turns out to be different? It’s not uncommon to see a lot of grand claims in listings. Usually, they’re not demonstrably false. However, you do need to be careful if you want them to be true. If the seller has said...
Obituary robbing
It’s a terrible term, isn’t it? It’s an even worse concept. Because obituaries are so often online these days, identify thieves are using information taken from those obituaries to try to steal assets after someone has died, while the family is grieving and...
Land Titles vs. Land Registry
A long time ago, I wrote a post on the two systems of property ownership in Ontario. I thought it was probably time to revisit this. Originally, most of northern Ontario was in the Land Titles system, while southern Ontario was in Land Registry. About 20 years ago,...