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simardassociates1 · 1 year

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What Should I Know About Ontario Real Estate Law?

Buying or selling a home is a complex transaction involving multiple steps before, during, and after. Whether you are a first-time home buyer or have been through the experience before, real estate law in Ontario can seem overwhelming and result in sleepless nights. Experienced real estate lawyers in Ottawa can help you navigate the buying or selling process to ensure that your transaction is smooth and stress-free.

WHAT DOES AN ONTARIO REAL ESTATE LAWYER DO THAT MY REAL ESTATE AGENT DOESN’T?

Real estate agents are invaluable because they help you find your dream home and negotiate on your behalf for the best deal. However, only a lawyer can answer your legal questions about these documents which you need to understand before you sign. Your real estate lawyer reviews every document related to your transaction. A real estate lawyer signs the transfer of land and ensures that everything is done correctly at the closing. Your real estate lawyers in Ottawa give you peace of mind by answering your questions and handling the transaction properly.

WHAT ARE THE DIFFERENT TYPES OF REAL ESTATE TRANSACTIONS?

Real estate isn’t limited to making a purchase or selling a house. There are many other transactions that might require real estate lawyers in Rockland. If you are getting a mortgage or refinancing, you may want to have a lawyer review the documents before signing to ensure everything is correct. Title transfers outside of a sale, such as a transfer at death, can benefit from a lawyer’s expertise. An estate severance is another transaction where a lawyer can make sure the documents are in order.

CAN A BUYER BACK OUT OF AN ACCEPTED OFFER IN ONTARIO?

Real estate law is often governed by the principle of “caveat emptor,” which is Latin for “let the buyer beware.” Generally speaking, once an offer is made and accepted, the only way to get out of it is for a material misrepresentation in the disclosure statements that is considered a significant part of the essence of the property. Buyers in this position should get advice from their real estate lawyer in Ottawa to determine the best course of action.

WHAT IS THE DIFFERENCE BETWEEN JOINT TENANTS AND TENANTS IN COMMON?

Joint tenancy usually has a right of survivorship. Joint tenants are typically married couples. When one of them dies, the ownership passes to the surviving spouse. Tenancy in common is typically used by non-married parties who own real estate together, whether common-law spouses or family and friends. Each party owns a share of the property. When one owner dies, their interest in the property must go through probate to be dealt with under the terms of the will.

WHAT REAL ESTATE TAX REBATES ARE AVAILABLE IN ONTARIO?

REAL ESTATE LAWYERS SERVING THE OTTAWA AREA

Real estate law in Ontario is complex. Get legal advice about your real estate ventures from a team of capable lawyers with over two decades of experience in the Ottawa Region. Contact us to help you navigate your real estate transactions.

#real estate law ontario #real estate lawyers prescott-russell #real estate lawyers rockland #real estate lawyers ottawa #Real Estate Law in Ontario

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dailynewsplatform · 1 year

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FAQs About Real Estate Law in Ontario

What Does An Ontario Real Estate Lawyer Do That My Real Estate Agent Doesn’t?

What Are The Different Types Of Real Estate Transactions?

Can A Buyer Back Out Of An Accepted Offer In Ontario?

What Is The Difference Between Joint Tenants And Tenants In Common?

What Real Estate Tax Rebates Are Available In Ontario?

In Ontario, homeowners may qualify for certain rebates, such as the first-time homeowner’s land transfer tax refunds or new housing HST rebate. Each of these tax rebates has specific qualifications defining who is eligible and how much money can be refunded or applied. These laws are complex. It can be beneficial to discuss your options with real estate lawyers in Prescott-Russell to make sure you are utilizing the rebates correctly. Real Estate Lawyers Serving The Ottawa Area Real estate law in Ontario is complex. Get legal advice about your real estate ventures from a team of capable lawyers with over two decades of experience in the Ottawa Region. Contact us to help you navigate your real estate transactions. Read the full article

#realestatelawontario #RealEstateLawyer #realestatelawyersottawa #realestatelawyersprescott-russell #realestatelawyersrockland

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problmaticsmoved · 2 years

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a selective multimuse independent rp blog. featuring canon & original muses by sugar. problmatics | tumblr / discord ( mutuals only )

please review my rules & preferences, listed on my carrd.

also found at sataniicpanic // full muse list under the cut

THE CANON CHARACTERS

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scream franchise / billy loomis, stu macher, sidney prescott, chad meeks-martin, mindy meeks-martin

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THE ORIGINAL CHARACTERS

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brooklyn scott / madelyn cline ( alt ) twenty three. she/her. bicurious. computer programmer / athlete / lifeguard.

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isaiah bennett / michael cimino twenty. he/him. bicurious. college student ( engineering major ).

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matthew peters / robert pattinson thirty one. he/him. bisexual. emergency dispatcher.

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#* ( pinned ! )

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simardassociates1 · 1 year

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What a real estate lawyer in Ontario can do for you

Real estate agents are helpful in providing guidance throughout the process of buying or selling a home; however a real estate lawyer in Ontario can provide a number of important services that your real estate agent may not be equipped to do. A real estate lawyer is trained in the legal aspects of buying and selling property, including title searches, conveyancing documents, closing statements, and other related paperwork. They also provide advice regarding applicable laws and regulations which could potentially affect your transaction; and they will help ensure that all legally required steps are taken to protect your interests. Furthermore, a real estate lawyer can review contracts prior to signing to ensure accuracy and fairness so that you fully understand your rights and obligations under the agreement.

Whether buying or selling property, a real estate lawyer will be there to protect your interests.

Real estate transactions require a significant amount of paperwork, knowledge of applicable laws and regulations, and the ability to negotiate and resolve disputes. An Ontario real estate lawyer can provide all these services so that your purchase or sale goes smoothly. They can answer all the questions you have about real estate law and they will ensure that all steps in the process have been taken correctly for your protection. A real estate lawyer is an invaluable resource when it comes to buying or selling a home and is well worth engaging for their expertise in this area. Contact Simard & Associates to talk to one of our experienced real estate lawyers in Clarence-Rockland, serving the greater Ottawa area.

#ottawa wills and estates lawyers #real estate lawyers rockland #real estate law ontario #real estate lawyers prescott-russell #real estate lawyers ottawa

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simardassociates1 · 4 years

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Agreement of purchase and sale |Simard&Associates

It is strongly recommended to have an experienced lawyer review the contents of the agreement before signing on the dotted line. Visit: https://www.simards.ca/real-estate-lawyers/

#real estate lawyers prescott-russell #real estate lawyer

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simardassociates1 · 4 years

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Agreement of purchase and sale — should you consult a lawyer

The most important document in any real estate transaction is the Agreement of Purchase and Sale. This document sets out the parameters of the transaction and contains the rights and obligations of each party. It is also the document we would refer to in the event of a conflict between the parties.

Most agreements begin as conditional offers. The conditions are usually for a specific period of time and for the benefit of the purchasing party. It is strongly recommended to include a clause to the effect that the offer is conditional upon a lawyer’s review of the Agreement of Purchase and Sale. This allows for a detailed discussion concerning the particular circumstances relating to the transaction and the expectations of the parties. Therefore, it is strongly recommended to have an experienced lawyer review the contents of the agreement before signing on the dotted line.

What Makes Up A Real Estate Contract?

The agreement must be for property

The agreement must be in writing;

There must be a consensus between the parties;

The agreement must set out, among other things, the names of the parties, the property in question, the price, the terms and conditions, as well as the significant provisions.

KEY ELEMENTS OF AN AGREEMENT OF PURCHASE AND SALE

When considering buying or selling a property, it is important to consult a real estate lawyer who can advise you on key elements to include in your Agreement of Purchase and Sale.

Here are a few key elements you should look out for:

Name of the parties;

Address of the subject property;

Lot dimensions;

Legal description of the property;

Purchase/Sale price;

Amount of the deposit;

Irrevocability date;

Closing date;

Chattels included;

Fixtures excluded;

Rental Items;

Tax implications;

Present and future use;

All other terms and conditions relevant to the transaction.

WHY YOU SHOULD CONSULT A LAWYER

A clause may be added in your Agreement of Purchase and Sale that makes your offer conditional upon a lawyer’s review and approval of the contents of the agreement with the buyer or the seller. This review allows both the buyer and/or the seller to have a comprehensive understanding of the terms outlined in the agreement and obtain legal advice to make any necessary changes.

Here are three reasons why you should always protect yourself by including a “lawyer review clause” before signing an Agreement of Purchase and Sale (“APS”) or why you should make it conditional on subsequent approval of the terms by your real estate lawyer:

The APS is the only legal document that governs a purchase and sale of real property which is the most important and largest investment that people typically do in their lifetime.

The lawyer review clause will ensure that nothing is missing and increase your chances that your real estate deal runs smoothly from start to finish.

Once the deal becomes firm, it will not be possible to add any further protections or clauses to the APS and all of the existing clauses of the APS are what governs the real estate transaction.

Do I Need an Attorney During an Agreement of Purchase &Sale?

Furthermore, by seeking legal real-estate counsel, both the Vendor and Purchaser can have peace of mind knowing that their lawyer will make sure to protect their investments and ensure that the transaction runs smoothly.

Originally Posted on - Simard & Associates

#real estate lawyers prescott-russell

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simardassociates1 · 2 years

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Learn about the kinds of Powers of Attorney you can give?

A Power of attorney is a legal document that grants a trusted person the ability to act as your agent under certain conditions. Wills and estate lawyers in Prescott-Russell recommend having a Power of attorney as part of your estate plan to make it easier for your family if you become unable to manage your affairs, either temporarily or permanently. There are two types of POAs in Ontario.

POWER OF ATTORNEY (POA) FOR PROPERTY

This type of POA generally refers to financial matters, from paying bills to selling real estate. You can also grant POA powers for specific tasks or situations. For example, if you were going to be out of the country for a few months or longer, you could give an agent the authority to pay your bills from your checking account while you’re away. You can also grant someone the power to act broadly on your behalf if you were to become ill or incompetent. Discuss your POA needs with wills and estate lawyers in Ottawa at Simard & Associates.

POWER OF ATTORNEY FOR PERSONAL CARE

This type of POA lets your agent make healthcare decisions in the event you become incapacitated. This can include a wide scope of things, from deciding which doctors oversee your medical care, what type of medical care you receive, and who cares for your everyday needs. You have the ability to limit the powers of your POA as you want. This type of POA could also be granted temporarily or permanently.

YOU DECIDE WHAT AUTHORITY YOUR POWER OF ATTORNEY HAS

When you’re working on your will and estate planning in Rockland, your lawyer can help you decide what powers your power of attorney grants to your agent. Find out everything you should know about wills and powers of attorney and contact us to make an appointment and get started.

#POA #power of attorney #wills and estate lawyers #wills estate lawyers #ottawa

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