In 1985, Veikko Kivikangas subdivided a parcel of waterfront land he owned in Sudbury into three lots. One had direct road access; the others were given a right-of-way over each of the other pieces in order to access their lands. There had long been a gravel road over the properties, and Kivikangas instructed his surveyor… Continue reading A road to nowhere
Month: May 2013
May 2013 Changes in the Canadian Mortgage Market
Last week, CAAMP released its spring consumer report, Change in the Canadian Mortgage Market. A copy of the full report is available to download here, but for those that don’t feel like reading that whole report, here are some of the significant stats from the report: Overall housing starts are projected to decline from 205,000 in 2011… Continue reading May 2013 Changes in the Canadian Mortgage Market
When is a house a matrimonial home?
I wrote a little while ago on matrimonial homes. Given the many questions I have had from clients lately, I wanted to expand on that post a little bit. In Ontario, the Family Law Act rules state exactly when a home becomes a matrimonial home: the day you get married, if you are living there.… Continue reading When is a house a matrimonial home?
Pay your taxes
Most people aren’t aware of this, but if you don’t pay your municipal property taxes, the city or town has the right to sell your house out from under you. Keep in mind that just because they can, doesn’t mean they necessarily will. First, the municipality cannot start the process until the third year after… Continue reading Pay your taxes
More Mortgage Changes Coming?
The OFSI (Office of the Superintendent of Financial Institutions – crazy-long name, eh?) is thinking about continuing to tighten the mortgage rules in this country. Last year the reduced the maximum amortization of insured mortgages from 30 to 25 years (which had previously been reduced from 40 to 35, then from 35 to 30). Now… Continue reading More Mortgage Changes Coming?