What is a Survivorship Application? A Survivorship Application in Ontario is a legal procedure used when one owner of a property held in joint tenancy passes away. In such instances, the property is automatically passed to the surviving joint tenant(s) without going through probate or being included in the deceased’s estate for distribution. This process …
Ontario has witnessed a significant rise in condominium developments over the past decade due to the growing population. When purchasing a condominium, obtaining the status certificate is a crucial step in the entire process. As a unit owner, you have a stake in the property’s common elements, which implies that you share the assets and …
Status Certificate Review: Importance with Examples Read More »
Understanding Toronto’s zoning by-laws is beneficial for clients engaged in real estate transactions or development projects. This article aims to provide an overview of the elements governing zoning in Toronto. What is a zoning By-Law? A zoning by-law is a legal regulation enacted by a municipal government to govern the use, development, and management of …
Owning property in Ontario entails various financial obligations, including property tax. This levy is vital for financing municipal infrastructure maintenance, public education, and emergency services. However, the complexities surrounding property tax and associated legal considerations often confuse homeowners and potential buyers. This article aims to elucidate the essential aspects of property tax in Ontario and …
Property Tax in Ontario and Legal Considerations Read More »
Purchasing a pre-construction home in Ontario can offer numerous benefits, such as modern amenities, energy-efficient designs, and customization options. Here are five aspects you should consider. 1. Research the Builder’s Reputation The reputation of your builder is critical for ensuring a smooth and satisfactory process. A reputable builder is likely to adhere to schedules, offer …
Buying a Pre-Construction Home in Ontario: 5 Things to Consider Read More »
Prohibition on the Purchase of Residential Property by Non-Canadians Act S.C. 2022, c. 10, s. 235 came into effect on January 1, 2023. This ban is meant to address housing affordability and property speculation concerns. This article provides an overview of this legislative enactment, its key provisions, and its potential impact on non-Canadian individuals and entities. …
Prohibition on the Purchase of Residential Property by Non-Canadians Act Read More »
In February 2022, the City of Toronto introduced the City of Toronto Municipal Code Chapter 778, a significant piece of legislation addressing a pressing issue within the city—the problem of vacant residential properties. In this article, we will delve deeper into the key aspects of Toronto’s Vacant Home Tax, offering a comprehensive overview in plain …
Vacant Home Tax in Toronto: What you need to know Read More »
When building or renovating a home, the planning process must be done carefully, particularly regarding financing. Construction Drawing Mortgage has become a favoured financial solution for these construction projects. We will go into the details of this financial tool in this article. What is a Construction Draw Mortgage? Construction Draw Mortgage is designed to finance …
Construction Draw Mortgage in Ontario: Advantages & Process Read More »
Short-term rentals powered by platforms like Airbnb have emerged as popular alternatives to traditional hotels. For a city as dynamic and sought-after as Toronto, this has implications for hosts, guests, and long-term residents. As such, Toronto has established regulations to balance economic opportunities with community well-being. The City of Toronto Chapter 547 regulates short-term rentals …
Short-Term Rentals in Toronto: Navigating the Regulation Read More »
Real estate transactions require careful attention to detail, from legalities to financial considerations. Let’s dive into the five pivotal missteps in property transactions and learn to navigate them. 1. Forgoing Professional Advice Why it’s a Mistake: While online resources provide a wealth of information, they cannot replace the experience of professionals who understand the nuances …
Five Things to Avoid When Buying or Selling Real Estate Read More »
Insight Law Professional Corporation is a Law Firm situated in the heart of Midtown Toronto. We specialize in Real Estate Law, Business and Commercial Law, Wills & Estates, as well as offering Notary Public & Commissioner of Oaths services. Our team is fluent in English, French, and Turkish.
