Erin Mills ~ Access and Transportation - 03/30/10 08:55 PM
Erin Mills ~ Access and Transportation  
By Brian Madigan LL.B.(ORES)Certainly, one of the key concepts in real estate is "location, location, location". And, in large measure the value of a location is measured by "transportation", access and how easy it is to get there.So, just where is Erin Mills?Erin Mills is located in Mississauga. In fact, it occupies the central west portion of Mississauga. The boundaries are Britannia Road on the north, Dundas Street on the south, Mississauga Road on the east and the Ninth Line on the west. There are a few irregularities, but that's close enough for our … (3 comments)

Erin Mills ~ Water and Watercourses - 03/29/10 07:39 PM
Erin Mills ~ Water and Watercourses  
By Brian Madigan LL.B.(ORES)Erin Mills is located on the west side of the Credit River in Mississauga and contains several valleys and watercourses that are tributaries to the Credit.The Credit River system drains water from Orangeville and north Halton into Lake Ontario. It was a major transportation corridor for the aboriginal peoples who occupied Peel and Halton hundreds of years ago.The principal creeks and valleys are Mullet Creek and Sawmill Valley. They meander through Erin Mills and eventually find their way to the Credit River.Those same watercourses presented a challenge and concern to developers.The … (5 comments)

"Terra Nullius" Explained - 03/29/10 10:32 AM
"Terra Nullius" Explained  
By Brian Madigan LL.B.(ORES)The latin term "terra nullius" means "land owned by no one", or "no man's land". It has a rich and varied history, and has now settled into the international law of the sea and the law of outer space.Vast parts of the globe were largely unknown to the Europeans in the 15th, 16th, 17th, 18th and 19th centuries. So, many countries sent out seamen to locate and explore new territories. If you found a place that was inhabited, then you would entertain the prospect of trading with the natives. If you found a place … (7 comments)

Erin Mills ~ Architectural Controls a Key to Success - 03/29/10 10:28 AM
Erin Mills ~ Private Subdivision Zoning a Key to Success  
By Brian Madigan LL.B.(ORES)Erin Mills has its own zoning by-laws and they are private. They are often known as the "Architectural Controls". They just apply to Erin Mills and nowhere else (unless they were copied).Cadillac Fairview Corporation as the developer of Erin Mills wanted to create a planned community. And, they wanted it to stay that way. The only enforcement provision that they could come up with was to enact their own zoning and building by-laws. So, they did. Basically, they registered private deed restrictions or restrictive covenants in every new … (0 comments)

"Non Sequitur" Explained - 03/28/10 10:47 AM
"Non Sequitur" Explained  
By Brian Madigan LL.B.(ORES)The latin term "non sequitur" may be translated as "it does not follow". The expression is truly one of logic rather than law, although the two should not be incompatible.It is more of a mathematical concept. Then again, logic is often taught as part of the department of Philosophy in many univeristies.The term "non sequitur" appears in many legal decisions but it is not truly a legal term. It just means, "that's illogical". Courts are always asked to draw inferences and conclusions from an insufficient set of facts.The "non sequitur" is often the root … (5 comments)

Agent's Unprofessional Advertisement - 03/28/10 10:16 AM
Agent's Unprofessional Advertisement  
By Brian Madigan LL.B.The agent ran an ad that cost $8,000.00! That's a lot of money for a local ad running in a Periodical.Well, that was the Fine not really the cost of the ad. So, what was so bad about the ad that it warranted an $8,000.00 fine?Actually, here's the ad:123 Main StreetAsking price: $1.19 million,Sold price: $1.16 million,Sold for: $605,000 (2003),Taxes: $6,738 (2006),5 bedrooms,3 bathrooms,Time on the market: 45 daysThat seems somewhat innocuous. But, the problem is that the agent required the consent of both the vendor and the purchaser, and she failed to obtain … (6 comments)

"Subpeona" Explained - 03/27/10 05:30 PM
"Subpeona" Explained
By Brian Madigan LL.B.
The word "subpeona" is a compound latin word which may be translated as "sub" meaning "under", and "peona" meaning "penalty".
The combination means "under penalty". A subpeona is a document issued by someone in authority to compel the attendance of a person who is "under a penalty" if they refuse to comply.
The person in authority may be a court, a tribunal, a grand jury, Parliament, or an Executive Officer of the government. Compliance is required, because there is penalty provided for failure to comply.
The word subpeona traces its origins back to the Middle … (0 comments)

Erin Mills ~ Planning the Road System - 03/27/10 04:51 PM
Erin Mills ~ Planning the Road System  
By Brian Madigan LL.B.(ORES)Erin Mills is the largest community within the city of Mississauga, Ontario. It provides home to over 100,000 residents. It started out in the 1960's as Canada's largest planned community. Don Mills was first, and then its developers took on Erin Mills as their next project.Cadillac Fairview Corporation developed a plan which it had used once before and was now ready to incorporate some improvements.The basic planning principle was that the community would be people friendly. It would adapt itself to the local environment. Natural watercourses would be left in … (1 comments)

"Agreement of Purchase and Sale" (Documents and Discharge) - 03/26/10 06:47 PM
"Agreement of Purchase and Sale" (Documents and Discharge)
 By Brian Madigan LL.B.
This clause deals with the production of evidence of title, and also discharges of mortgages. In that regard, the second part of this clause really should have been covered under the topic of closing arrangements.
Let's have a look at the standard form agreement of purchase and sale and see what it says in the "Documents and Discharge" clause:
"12. DOCUMENTS AND DISCHARGE: Buyer shall not call for the production of any title deed, abstract, survey or other evidence of title to the property except such as are in … (2 comments)

Erin Mills - 03/25/10 08:42 PM
Erin Mills   By Brian Madigan LL.B.(ORES)Erin Mills is the largest community in the City of Mississauga. It provides home to over 100,000 people has has now reached about 90% of its potential.Thirty-five to forty years ago, it was the first home to many newly married couples. It offered affordable housing close the City of Toronto. Today, naturally it's reaching maturity itself. Instead of street hockey, many of those young hockey players find themselves as doctors, dentists, lawyers, engineers, teachers, film makers, managers, bankers, entrepreneurs and astronauts. Yes, I did say astronauts! I have coached them all.So, the community is somewhat … (10 comments)

Innocent Parties in a Mortgage Fraud - 03/24/10 09:07 PM
Innocent Parties in a Mortgage Fraud  
By Brian Madigan LL.B.That could be a problem! In fact, that's how you lose your house.Let's assume that Bob owns a house in the City and decides to rent it out for a period of time. He is planning a well-earned vacation travelling the world in his retirement.So, he rents it to Albert and away he goes. Albert becomes devious after a while and impersonating Bob (because Bob left lots of original identifying documents in the house) he approaches a bank for a mortgage loan. The deals goes through, Albert gets the money from … (7 comments)

Is Replacement Insurance Good Enough? - 03/23/10 09:49 PM
Is Replacement Insurance Good Enough?  
By Brian Madigan LL.B.Rob and Allison were sitting quietly in their family room one evening when all of a sudden they heard a crash, it was like a jet airplane landing on their roof.They went out to their backyard and found that a 72 foot tractor trailer had veered off the road and totally demolished their two car garage.The garage or what was left of it, was simply a pile of rubble in the backyard. The police came to investigate and charged the driver with careless driving. The driver apologized and accepted responsibility that evening. … (9 comments)

"Veto" Explained - 03/22/10 08:34 PM
 "Veto" Explained
  
By Brian Madigan LL.B.
The latin term "veto" means "I forbid". It has followed its way from ancient Rome into modern democracies. This was the power to "prevent" an act from taking place. It was not a power to act.
Its origins were simple enough. In Rome, frequently two people held the same position. If that was the case, they each possessed a veto over one another.
Interestingly, a dictator is actually someone who is not subject to veto.
In constitutional monarchies, the King or Queen holds a veto power, although, of course, it is seldom and rarely … (2 comments)

"Corpus Delicti" Explained - 03/22/10 07:50 PM
"Corpus Delicti" Explained
 By Brian Madigan LL.B.
The latin expression "corpus delicti" can simply be translated as "body of crime".
In essence, a criminal offence is composed of two parts: the guilty act (actus reus) and the guilty mind (mens rea).
This concept is one step removed. Before someone can be charged with a crime, the prosecution must actually be able to establish that a crime was indeed committed. That is the "corpus delicti". There must be a murder (not an accidental death), there must be a theft (not a missing object), there must be a kidnapping (not a missing person).
… (2 comments)

The Latin Term "De Novo" Explained - 03/21/10 05:59 PM
The Latin Term "De Novo" Explained
By Brian Madigan LL.B.
The latin term "De Novo" is frequently used in law. Translated from the latin it means "new, from the beginning". It is usually used in the context of a new trial.
Let's assume that a litigant seeks to appeal the result in an unsuccessful trial. The Appeal Court or the Appellate Court or tribunal could make a decision allowing the appeal and granting:
 
A victory in the form of a decision in favour of the applicant A narrow victory on a minor point, and directing that this point be resolved … (0 comments)

The Latin Term "Affidavit" Explained - 03/21/10 05:31 PM
 The Latin Term "Affidavit" Explained
By Brian Madigan LL.B.
The latin term "affidavit" is a very common term used in law. Translated, it means "he who has declared upon oath". The meaning is rather specific. It refers to a document that is verified under either oath or affirmation and where the deponent agrees that the legal remedies of perjury shall apply in the case that the statement is untrue.
Basically, the intention is to have a document that is as credible as it gets. It must be true, since the person who swore the affidavit agreed to perjury penalties!
However, in … (2 comments)

Conditions Precedent, Conditions Subsequent and True Conditions - 03/20/10 04:54 PM
Conditions Precedent, Conditions Subseqent and True Conditions  
By Brian Madigan LL.B.There is always a great deal of confusion and discussion concerning conditions and escape clauses contained in agreements relating to real estate. But, it is really rather straightforward and the documentation depends upon how the escape clause was written in the first place.There are really just two categories:1) pending deals (which require confirmation), and2) confirmed deals (which include an escape).Pending deals are generally described by a condition precedent clause, and confirmed deals with a provision for escape are evidenced by the condition subsequent clause. The condition precedent clause begins with … (4 comments)

"Agreement of Purchase and Sale" (Closing Arrangements) - 03/20/10 10:45 AM
"Agreement of Purchase and Sale" (Closing Arrangements)
 By Brian Madigan LL.B.
Certainly, not everyone needs to know how to close a real estate transaction, but real estate professionals are negotiating clauses related to the closing of the transactions every day, so at the very least, they should be aware of some of the terms.
Let's have a look at the standard form agreement of purchase and sale and see what it says in the "closing arrangements" clause:
"11. CLOSING ARRANGEMENTS: Where each of the Seller and Buyer retain a lawyer to complete the Agreement of Purchase and Sale of the Property, … (3 comments)

Agreement of Purchase and Sale (Title) - 03/18/10 10:17 AM
"Agreement of Purchase and Sale" (Title)
 By Brian Madigan LL.B.
The agreement between the parties concerning "title" to the property is in essence the "bargain" between the seller and the buyer. This is a matter of substance and not just procedural as is the title search clause.
It is also the clause which gives rise to the greatest amount of litigation between the parties.
Let's have a look at the standard form agreement of purchase and sale and see what it says in the "Title" clause:
"10. TITLE: Provided that the title to the property is good and free from all … (7 comments)

How St. Patrick Discovered the Americas - 03/16/10 08:59 AM
How St. Patrick Discovered the Americas  
By Brian Madigan LL.B.The Irish have for centuries been grouped together in large families known as clans. When one group gets too large there may be a splinter group. The son of someone named Neill would start a new family called MacNeill. The word "Mac" means "son of", and a grandson would start the O'Neill clan since the "O" is short for "grandson of".Some Famous Irish Characters from HistoryYou might find it a somewhat interesting history. Much of that which is written about Ireland is simply folklore and largely untrue, yet it makes an … (10 comments)

Beware of the Ides of March - 03/15/10 07:06 PM
Beware of the Ides of March!  
By Brian Madigan LL.B.That was good advice given by a soothsayer to Julius Caesar although he did not heed the warning.The words were made popular by William Shakespeare in his play "Julius Caesar".In real estate, it is significant because it is the begining of the Spring market and generally as goes the Spring market, so does the rest of the year.So, be alert to its meaning and heed its advice!Brian Madigan LL.B., Real Estate Broker is an author and commentator on real estate matters, Royal LePage Innovators Realty905-796-8888www.OntarioRealEstateSource.com … (3 comments)

Agreement of Purchase and Sale (Future Use) - 03/15/10 09:07 AM
Agreement of Purchase and Sale" (Future Use)
By Brian Madigan LL.B.(ORES)Properties are valued on the basis of the "highest and best use". If a farm is just a farm, then it has a certain value, however if the farm can be rezoned to permit a residential subdivision, then it has a much higher value.You might have some single family residential homes in a downtown area that could possibly be rezoned for condominium apartments.In both cases, the value could be substantially higher perhaps 30 to 50 times higher. That's significant.Let's have a look at the standard form agreement of purchase and … (1 comments)

Agreement of Purchase and Sale (Title Search) - 03/15/10 09:04 AM
 
Agreement of Purchase and Sale" (Title Search)
By Brian Madigan LL.B.(ORES)The title search clause is often described as the "due diligence" clause in an agreement of purchase and sale. This is a procedural clause. This is not the deal between the parties when it comes to the title, but it is very important and has some very serious implications, particularly if it is overlooked.Let's have a look at the standard form agreement of purchase and sale and see what it says in the "Title Search" clause:"8. TITLE SEARCH: Buyer shall be allowed until 6:00 p.m. on the____day of_____, 20____, … (5 comments)

Agreement of Purchase and Sale (GST/HST) - 03/15/10 08:56 AM
"Agreement of Purchase and Sale" (GST/HST)  
By Brian Madigan LL.B.(ORES) NOTE: READER BEWARE
The following article is untrue.
 
Tax on Chattels
 
I had written and published several articles to the effect that HST applies to the chattels component in a residential real estate transaction. There was Retail Sales Tax but no GST.
 
With the new Harmonized Sales Tax, I was among the first to write to the effect that the HST applied. It does not. Now, that’s a change! No tax from the Taxman, who would ever have thought that?
 
So, here’s the problem: I did … (5 comments)

Agreement of Purchase and Sale (Rental Items) - 03/14/10 01:39 PM
"Agreement of Purchase and Sale" (Rental Items)  
By Brian Madigan LL.B.(ORES)In an agreement of purchase and sale there are often some fixtures that are to be excluded from the transaction. These are not the ones that are excluded by choice because the owners wants to take them; these are the ones that can't be sold because they are not owned by the vendor. They are "rented".There are two kinds of items that you will find itemized: chattels and fixtures. Chattels are separate, independent items of personal property. Fixtures are items that are so affixed, attached or annexed to the real … (3 comments)

ORES Real Estate Index for February 2010 - 03/11/10 08:00 PM
ORES Real Estate Index for February 2010  
By Brian Madigan LL.B.(ORES)Here is the "ORES REAL ESTATE INDEX" which tracks the average resale prices of single family homes and condominiums in the Greater Toronto Area (GTA). It also tracks certain benchmark comparisons such as the price of oil and gold, as well as the Consumer Price Index.In addition, the stock market indices for Toronto, and the three largest US markets are also compared.For ease of comparison, everything we look at is worth 100 points on the Index as of 1 January 2005. That time period compares favourably with the five year … (6 comments)

Agreement of Purchase and Sale (Fixtures Excluded) - 03/11/10 05:44 PM
"Agreement of Purchase and Sale" (Fixtures Excluded)  
By Brian Madigan LL.B.(ORES)In an agreement of purchase and sale there are often some fixtures that are to be excluded from the transaction.There are two kinds of items that you will find itemized: chattels and fixtures. Chattels are separate, independent items of personal property. Fixtures are items that are so affixed, attached or annexed to the real estate, that they are in law considered to be part of the real property.So, the law is clear, "say nothing" and: · Fixtures go with the property,
· Chattels remain with the owner.
Let's have a … (1 comments)

Agreement of Purchase and Sale (Chattels Included) - 03/11/10 01:10 PM
"Agreement of Purchase and Sale" (Chattels Included)  
By Brian Madigan LL.B.(ORES)In an agreement of purchase and sale there are usually some chattels that are included in the transaction.There are two kinds of items that you will find itemized: chattels and fixtures. Chattels are separate, independent items of personal property. Fixtures are items that are so affixed, attached or annexed to the real estate, that they are in law considered to be part of the real property.So, the law is clear, "say nothing" and: · Fixtures go with the property,
· Chattels remain with the owner.
Let's have a look at … (4 comments)

Agreement of Purchase and Sale (Notices) - 03/11/10 10:53 AM
"Agreement of Purchase and Sale" (Notices)  
By Brian Madigan LL.B.(ORES)In an agreement of purchase and sale there are usually conditions, time limits and requisitions. That gives rise to the properly authorized method of delivery of "notices" between the parties.Let's have a look at the standard form agreement of purchase and sale and see what it says in the "Notices" clause:"3. NOTICES: The Seller hereby appoints the Listing Brokerage as agent for the Seller for the purpose of giving and receiving notices pursuant to this Agreement. Where a Brokerage (Buyer's Brokerage) has entered into a representation agreement with the Buyer, the … (2 comments)

Agreement of Purchase and Sale (Completion Date) - 03/10/10 08:02 PM
"Agreement of Purchase and Sale" (Completion Date)  
By Brian Madigan LL.B.(ORES)Everyone wants to know when the deal will close. So, it's set out in the "completion date clause" which is the second numbered paragraph in the agreement.Let's have a look at the standard form agreement of purchase and sale and see what it says in the "completion date" clause:"2. COMPLETION DATE: This Agreement shall be completed by no later than 6:00 p.m. on the _________day of _____________ . Upon completion, vacant possession of the property shall be given to the Buyer unless otherwise provided for in this Agreement."This clause deals … (1 comments)

Agreement of Purchase and Sale (Irrevocability Clause) - 03/10/10 01:50 PM
"Agreement of Purchase and Sale" (Irrevocability Clause)   By Brian Madigan LL.B.(ORES) The "irrevocability" provision is extremely important in any transaction. This is the time limit for acceptance of an Offer. If the offer is accepted "in time", then the offer turns into an agreement. Otherwise, the offer simply expires. It is the essence of contract dealings.In fact, it is the first numbered paragraph in an agreement of purchase and sale.Let's have a look at the standard form agreement of purchase and sale and see what it says in the irrevocability clause:"1. IRREVOCABILITY: This Offer shall be irrevocable by____________ until ______ … (1 comments)

Agreement of Purchase and Sale (Schedules) - 03/10/10 12:32 PM
"Agreement of Purchase and Sale" (Schedules)  
By Brian Madigan LL.B.(ORES)A significant distinction between the current standard form agreement of purchase and sale, and documents in use 15 or 20 years ago is the use of Schedules.Let's have a look at the standard form agreement of purchase and sale and see what it says regarding Schedules:"Buyer agrees to pay the balance as more particularly set out in Schedule A attached.SCHEDULE (S). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . … (2 comments)

Agreement of Purchase and Sale (Deposit Clause) - 03/09/10 10:00 PM
"Agreement of Purchase and Sale" (Deposit Clause)  
By Brian Madigan LL.B.(ORES)One of the more significant issues that arises frequently surrounds the "deposit clause". Until recently, it often gave rise to a number of different interpretations.Let's have a look at the standard form agreement of purchase and sale and see exactly what it says:"DEPOSIT: Buyer submits(Herewith/Upon acceptance/as otherwise described in this Agreement)____________________________Dollars (CDN$).________________.by negotiable cheque payable to______________"Deposit Holder"to be held in trust pending completion or other termination of this Agreement and to be credited toward the Purchase Price on completion. For the purposes of this Agreement, "Upon Acceptance" shall mean that … (5 comments)

March Mortgage Rates Hold Steady - 03/09/10 08:00 PM
March Mortgage Rates Hold Steady   By Brian Madigan LL.B.(ORES)So, what about interest rates? Are they going up or down?Actually, the longer term rates are slightly down over four weeks. The short term and medium term remain the same.Here are some same source numbers for Toronto and Ontario. Look at the subtle changes over the last four weeks.Quoted rates are down for seven and ten year terms on a four week basis.Preferred rates are down for seven and ten year terms (again over four weeks).Over the last three weeks, there are no changes.However, it is important to remember that the US … (1 comments)

Disclosure Laws and the Use of the SPIS ~ Announcement - 03/04/10 08:26 PM
Disclosure Laws and the Use of the SPIS  
By Brian Madigan LL.B.I am pleased to announce that I have been designated by the Real Estate Council of Ontario as an Education Provider pursuant to the provisions of the Real Estate and Business Brokers Act, 2002 (Act).I am also pleased to announce that the Registrar has approved my course entitled:Disclosure Laws and the Use of the SPISTo qualify for 3 hours of continuing education credits under the Act.Any registrant wishing to attend the course which is currently only available in classroom format should contact me for the times, dates and locations … (11 comments)

Canada's Strategic Plan Positive for Real Estate Industry - 03/04/10 08:37 AM
Canada's Strategic Plan Positive for Real Estate Industry  
By Brian Madigan LL.B.(ORES)The Speech from the Throne delivered 3 March 2010 by the Governor General, is in effect Canada's strategic plan, as prepared by the Prime Minister's office.The approach is very much "stay the course" in terms of the economy.There are some highlights including: · A freeze on parliamentary salaries
· The stated intention to return to a balanced budget
· A control on federal spending
· An opening of the communications market to foreign participation
· A de-regulation (in part) of the oil and mining industries to encourage investment
While … (7 comments)

Agreement of Purchase and Sale (Price) - 03/03/10 08:26 PM
"Agreement of Purchase and Sale" (Price)   By Brian Madigan LL.B.(ORES)The standard form agreement of purchase and sale includes a provision about the price. Let's have a look at the form:"PURCHASE PRICE: two hundred and fifty thousand Dollars (CDN$) 250,000.00"The purchase price is the total value of the consideration paid in a transaction. It includes: · monies paid by way of a deposit to third parties, · the value of any other consideration exchanged in kind, · the amount to discharge encumbrances, · the value of mortgages assumed, · the value of other debts assumed, · the value of the vendor … (0 comments)

Property Description in Offers - 03/03/10 12:42 PM
"Agreement of Purchase and Sale" (Property Description)   By Brian Madigan LL.B.(ORES)The standard form agreement of purchase and sale doesn't have much to say about the property. Let's have a look at the form. Here's an example:the followingREAL PROPERTY:Address 123 Queen Street fronting on the south side of Queen Streetin the City of Torontoand having a frontage of 100 feet .more or less by a depth of 200 feet more or less and legally described as Lot 14, Plan 2010 (the "property").Legal description of land including easements not described elsewhere)So, all in all, there's not really much to it. The municipal … (5 comments)

Agreement of Purchase and Sale ~ Parties - 03/02/10 08:02 PM
"Agreement of Purchase and Sale" ~ Parties   By Brian Madigan LL.B. (ORES)One of the very first issues that you will have to consider in putting an agreement of purchase and sale together is the parties.BuyersSo, who is going to be the buyer? Assuming that you have a residential property, will it be the husband, the wife or both?What are their credit ratings? Will one of them be declined for a mortgage? Or, are both parties necessary to qualify for the mortgage?Will both of them be available to sign the appropriate documents throughout the negotiating period and the finalization of the … (3 comments)

"Agreement of Purchase and Sale" (Parties, Property, Price) - 03/02/10 08:55 AM
"Agreement of Purchase and Sale" (Parties, Property, Price)  
By Brian Madigan LL.B.(ORES)As we have a look at the standard form agreement, we will have to examine the wording, paragraph by paragraph and line by line in order to achieve a proper understanding of the document.Here is the first part of the standard form. It deals with the Parties, the Property and the Price, all essential terms of the agreement. Without any one of them, then there is no contractual agreement.Agreement of Purchase and SaleThis Agreement of Purchase and Sale dated _______.BUYER,_________, agrees to purchase from(Full legal names of all Buyers)SELLER, … (4 comments)

"Agreement of Purchase and Sale" (Introduction) - 03/02/10 08:15 AM
"Agreement of Purchase and Sale" (Introduction)  
By Brian Madigan LL.B.(ORES)This is the commencement of a series of articles dealing with the standard form agreement of purchase and sale. It has been prepared by the Ontario Real Estate Association and is in common usage in Ontario effective January 2010.The agreement "as drafted", anticipates that there will be a thorough and full understanding of the document by qualified professionals, realtors, and lawyers. The document is generally directed to be fair to both sides, the buyer and the seller.However, it is simply a standard form. In many situations it requires amendment, modification or … (4 comments)

"Parens Patriae" Explained - 03/01/10 06:17 PM
"Parens Patriae" Explained  
By Brian Madigan LL.B.(ORES)The latin term "parens patriae" can be translated into English as the "father of the children" or the "parent of the nation".The intention is to convey the basic meaning that the government or the state has a certain right and in fact obligation to look after those who can't look after themselves. It was always a role that befell someone.A disabled child who matured into adulthood often could not look after themselves. When the elderly parents died, then someone had to step in, look after the child (who lacked sufficient maturity) and care for … (3 comments)

Should You Have an Indemnity Clause? - 03/01/10 03:59 PM
Should You Have an Indemnity Clause? By Brian Madigan LL.B.This is the case of the "missing" indemnity clause. You might think that there is an indemnity clause because the paragraph starts out with the word "indemnification". But, naturally, that's not the whole story.There is a standard form agreement known as a Buyer Representation Agreement (BRA for short). It was drafted by the Ontario Real Estate Association (OREA) to bind buyers to realtors. The purpose of the agreement was to make sure that the buyer didn't jump ship, and move to another realtor, while the first agent had shown him a number … (4 comments)

Be Careful About the Non-Resident Tax Rules - 03/01/10 08:30 AM
Be Careful About the Non-Resident Tax Rules  
By Brian Madigan LL.B.You have to be careful if you're purchasing property from a non-resident. If you don't, you may end up paying their income tax.As part of every real estate transaction the purchaser should obtain proper evidence in the form of an affidavit that the vendor is "not a non-resident of Canada within the meaning of Section 116 of the Income Tax Act".The correct way to approach this issue is unfortunately to use the double negative, that is the person is NOT a "non-resident". There are several categories for tax purposes, including … (7 comments)

 
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Brian Madigan LL.B.

Toronto, ON

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RE/MAX West Realty Inc., Brokerage (Toronto)

Address: Toronto, Mississauga, Oakville, Brampton, Caledon, Thornhill, Greater Toronto Area, http://www.iSourceRealEstate.com

Office Phone: (416) 745-2300

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