Written by: Kemi Ibitoye A will is one of the most important legal documents you can have. It gives you peace of mind knowing your assets and personal belongings will be distributed according to your wishes. Without a valid will, Ontario law decides how your estate is distributed. Dying "intestate" means your assets are divided according to provincial rules, not your wishes. This also means that the person who then Read More
3 Things to Consider When Selecting Your Attorney for Your Power of Attorney Document
Written by: Kemi Ibitoye Power of Attorney noun. A Power of Attorney is a legal document that allows someone to make decisions on behalf of another person. There are two types of Powers of Attorney: Power of Attorney for finances/property Power of Attorney for personal care Choosing your attorney for your Power of Attorney document is never an easy task. However, here are some qualities you may want to consider to Read More
June Is Seniors Month in Ontario
Written by: Kemi Ibitoye June is Seniors Month in Ontario which is a great time to celebrate the contributions, experiences, and lasting impact of older adults in our communities. With Ontario's aging population, real estate professionals often work with seniors during downsizing, refinancing, or property transfers. As real estate transactions increasingly use technology, seniors may be more vulnerable to scams and Read More
March Is Fraud Prevention Month
March is Fraud Prevention Month in Canada. It's no secret that instances of fraud have been on the rise since the COVID-19 pandemic, especially real estate fraud. Title fraud is a common real estate fraud which happens when fraudsters steal the title to your home. The fraudster then sells your home or applies for a new mortgage against it. Real estate professionals have to be aware of the rise in title fraud and Read More
How to Choose the Right Power of Attorney: Property
Are you planning to make your Power of Attorney for Property? You should save this post for later!📌 Here are some tips to consider in selecting your attorney for your Power of Attorney for Property: 1) Ensure to discuss with whomever you decide to choose as your attorney. This is important as the role of an attorney entails a lot of work in some situations. You want to be sure that the person you appoint is Read More
Will Preparation Checklist
Happy Monday! We are sharing our Will preparation checklist which you will find useful (you should save this post for later).📌 Do you have assets or plan to buy real estate this year? If yes, the next step is to ensure that you protect your investments by making a will. You have worked hard to build and accumulate these investments. Ensure you decide who they get passed to according to your wishes. 1. Compile a list Read More
Mortgages: Being a Guarantor
Being a guarantor on a mortgage simply means that you will guarantee all the principal amount and interest owing by the borrower of the loan. This also means that you are a surety for the payment by the borrower as well as primarily liable for the repayment of the debt if a default occurs. If the lender / bank cannot legally recover any of the loan from the principal debtor, they have the right to collect these Read More
Bank of Canada Interest Hike
"The Bank of Canada has raised its benchmark interest rate by the largest amount in more than 20 years..."* "The bank's rate impacts the rate that Canadians get from their lenders on things like mortgages and lines of credit. Two of Canada's big banks have already moved their benchmark rates in response, with Royal Bank and TD raising their prime lending rates from 3.7 per cent to 4.7 per cent as of Thursday Read More
Benefits of Buying a Pre-construction House in Ontario
Are you buying a pre-construction house? Here are some benefits of buying pre-construction rather than a resale home in Ontario. Clients regularly ask about the pros and cons of purchasing pre-construction over a resale home. Some of the pros of a pre-construction purchase are listed below; regardless, it boils down to the needs and goals of the individual purchaser. 1) You can customize the design of your Read More
What is a Title Search?
A title search is done by the real estate lawyer completing the closing of your purchase transaction. This is mainly done through the Land Registry system and will reveal key information on the property like ownership over the years, current mortgage(s) on title, any liens on title. The main goal of a title search is to ensure that the purchaser obtains good title to the property on closing. If you have any Read More
