With prices going up and down, and mortgage rules getting increasingly tight, it can be difficult to know when it is the right time to buy, especially if you’re buying for the first time. Here are some signs that it’s time for you to jump into the market: You have a...
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cesia@wall-arm.ca
Who should you name as your executor?
I recently wrote about choosing a local executor. Today, I’d like to talk more generally about who to choose as an executor. Many people default to a spouse, with an adult child or sibling as an alternate. If you don’t have a spouse, adult child, or sibling, and your...
How to make your mortgage approval disappear
If you have applied for a mortgage, you usually want to go ahead with it. This is especially true if you are using a mortgage to finance a purchase of a new home. Sometimes, things about the mortgage will change between application and closing – if you get a variable...
The farther away your executor is, the harder it is for your estate
We live in a very mobile society. Many of us have parents, siblings, or children who live in different provinces or different countries. For many aspects of our daily lives, it doesn’t make much difference, other than the difficulty in having regular visits. For...
Selling with a power of attorney
If you need to be away when your house is for sale, or if you become incapacitated or physically unable to sign paperwork, it is possible to sign by way of a power of attorney. If you have an existing Continuing Power of Attorney for Property, this can be used to sell...
Want to help the government pay its bills?
Then don’t do a will. In fact, don’t get any professional advice at all. I regularly see issues in the way clients have things set up – whether that is how they are on title to real estate, beneficiary designations on investments, etc. Even if it’s just a matter of a...
A secured credit line is still a mortgage
Be aware. If you’re selling, and you have a credit line that you borrowed against your house, this must be paid off. Factor it in to your bottom line so that you’re not shocked when the closing date comes around. And if you’re buying, be prepared to see it get...
Where is your will?
Florence Griffith Joyner was a famous and highly decorated Olympic athlete. She made a will. She told everyone that she made a will. She figured that she had done what she needed to do. The problem was, she didn’t tell anyone where that will was. When she died, no one...
What does title insurance do?
In a recent real estate post, I discussed the need for a survey and why, often, it’s not as critical as it once was. The main reason for this is because of title insurance. Title insurance, in a nice syllogism, insures your title. Basically, it protects you against...
Fraud by Power of Attorney
A few weeks ago, two people were charged with defrauding an elderly woman in Clearview Township. They managed to commit the fraud through an abuse of a power of attorney. There is a specific Criminal Code offence of theft by power of attorney. Section 331 of the Code...