ARCHIVED BLOG POSTS
2018
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Capital Gains Tax on a Vacant Lot (Ontario)Question:Does my client have to pay capital gains when he sells the VACANT LOT that he bought two years ago?Answer:Your technical question is whether he has to “pay” capital gains. The Answer is “maybe”. The gain will qualify either as a capital gain or...
02/28/2018
TERM POSTED Preferred RATES* Open 1 Year 6.30% 6.30% Fixed 1 Year 3.04% 2.79% Fixed 2 Year 3.24% 3.04% Fixed 3 Year 3.44% 3.04% Fixed 4 Year 3.89% 3.34% Fixed 5 Year 5.14% 3.14% Fixed 7 Year 5.30% 3.79% Fixed 10 Year 6.10% 3.84% Variable Rate 2.41% Prime Rate 3.45% Benchmark Rate 5.14% Cost per ...
02/26/2018
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Witnessing Signatures Electronically OntarioQuestion:Can we witness docusign signatures?Answer:Yes, but only if you are physically present and see the person actually sign. There’s room on the Form.Only Powers of Attorney and Domestic Agreements require a witness to make them enforceable. The E C...
02/25/2018
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Related Party Disclosure Form in OntarioQuestion:Is there a specific disclosure form I have to use when doing an agreement if I'm related to my client? I know I have to include a disclosure but not sure what exactly that entails.Answer:Most of the time you don't need it. How are you related to yo...
02/25/2018
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Additional Parties on an AgreementQuestion: Is there ever a downside to accepting additional parties as part of an Agreement? I’m talking about extra Buyers. I know that sometimes they are needed in order to qualify for a mortgage. But, is there ever anything to worry about?Answer:Really, you don...
02/25/2018
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Estate Sale: Who’s the Client?Sometimes, this is a little more complicated than it would seem.Mary Jones had three daughters: Marie, Cathy and Joan. Marie was just like an extra mother because she was 10 when Cathy was born, and 20 when Joan was born.Today, their ages are 41, 31, and 21. Marie li...
02/23/2018
Commercial Bond Yields CMB GoC Floating RateInsured Cost of Funds 5 Year - 2.37%*CANHOU 06/15/23 [-0.02] 5 Year - 2.06%CAN 1.0 03/01/23 [-0.03] 1.49% [-] 10 Year - 2.64%*CANHOU 03/15/28 [-0.03] 10 Year - 2.26%CAN 1.0 0...
02/23/2018
HIGH RATIO fixed term best discounted rates & posted rates as of Feb 23, 2018 Terms Posted Rates Preferred Rates 6 mos 3.14% 3.10%1 year 3.04% 2.89%2 year ...
02/23/2018
Deposit Holder: What is their status? (Ontario)Question:The Seller has either their Listing Agent, the Brokerage or their solicitor hold the deposit. Are they not both subject to agency laws, such that they have to follow the Seller’s directions?Answer:Very interesting question. You are right, bo...
02/23/2018
Is a Deposit Consideration for a Contract?This question keeps coming up, so let’s have a look at it.There are a few things to consider when we are talking about a contract. First of all, you have to get it going in the first place. There are two choices here: either 1) a seal, or 2) consideration...
02/19/2018
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