What happens when you own a property jointly with someone, and don’t want to share any more? Your kindergarten teacher probably wouldn’t be happy, but technically, you can sever a joint tenancy without any notice to the other parties. Basically, you do a transfer from yourself to yourself, with a statement that it is being… Continue reading Cutting ties
Tag: real estate law
When is a house a matrimonial home?
If you are married and living together with your spouse in a house that you own, you have just limited your ability to deal with the property at your own whim. A matrimonial home, even if it is just in one spouse’s name, is beneficially owned by both spouses, and the non-titled spouse will have… Continue reading When is a house a matrimonial home?
HST rebates
Here’s a post for near tax time: HST rebates on a new home. If you are buying a brand-new home, you are entitled to a rebate, but only in specific circumstances: You must intend to live in it as your primary home. It can’t be a cottage or other seasonal residence. If you are not… Continue reading HST rebates
Specific performance
You put in an offer and it was accepted, but some time before the closing date, the seller decided not to complete the deal. Can you sue to make them sell you the property? In Ontario, there is a concept called “specific performance” which, essentially, means that you are looking to have the contract fulfilled… Continue reading Specific performance
Buying a rental
I have written before about assuming a hot water heater rental contract with your new house. Today’s question: do you want to? Before you automatically agree to assume the contract, you might want to take a look at the wording of it. Sometimes it makes more sense to enter into a new contract with a… Continue reading Buying a rental