Expert advice, market reports, and tips from the Niagara Region real estate professionals.
When purchasing shares in a corporation or allowing new investors to buy shares in your corporation, you should consider a Shareholder’s Agreement to help govern your company. There are a few different clauses you may want to consider, one being the “shotgun” clause, sometimes referred to as the buy-sell clause. After reading this article, you will better understand the “shotgun” clause and know precisely where to seek legal advice.
Often when investors look at buying a property, the first thing they look at is rate of return or cap rate. And while getting a reasonable return on your investment is important it certainly isn’t the only thing you need to consider when it comes to making your buying decision.
If you own or are considering purchasing vacant land, you will be glad to know that most of the sales do not require the seller to collect and remit HST to the government. However, there are exceptions to this rule that are worth considering, so it is important to have the right advise before you buy or sell vacant land. This article will cover a few of these situations.
When considering starting a business and incorporating there are several advantages. Owning a business in a simple partnership or sole proprietorship is important for branding and advertising. It is a requirement under the Ontario Business Corporations Act that business owners register their business names if they are advertising to the public. While a partnership or sole proprietorship can be a quick way to get your business off the ground, there are several reasons why incorporation might be the better approach. An incorporated business can exist indefinitely even after the original owner and incorporator have passed. This is because corporations are their own legal entity and do not rely on the person who created it to survive. As owners decease, the corporation can carry on its functions through its appointed Directors and Officers. This opens avenues for estate planning such as dual wills for corporate assets and shares.
Most pet owners think of pets as part of their family, and want to ensure that after they pass, these pets are taken care of. There are several factors which must be considered in estate planning to ensure the best for your pets, and their caregivers. This article will give a brief overview of some considerations one should turn their mind to while drafting their Will.
For financing reasons, a parent may decide to go on title to land that a child owns or is looking to purchase. There are a few considerations when adding a parent to title. This article gives a brief overview of those considerations and provides the reader with some questions that they might ask before agreeing to go on title.
n every real estate transaction, a buyer and seller must agree upon what items in the home are included and what fixtures may be excluded. The question of whether an item is a chattel or a fixture can sometimes lead to unpleasant surprises for purchasers who thought they were obtaining items that the seller never intended to give.
In 1999, Ontario began converting land from the Registry Act system to the Land Titles Act to allow for the electronic registration of title. This process was complicated because, while the Registry Act allows for people to obtain ownership of land through continued possession (“squatter’s rights”) or acquire easements through extended use, the Land Titles Act does not permit claims of adverse possession or prescriptive easements.
COVID-19 has brought many challenges for people when entering contracts. With new variants unfolding routinely, the disruption can leave many people facing delays or cancellations of things that they have contracted for, such as weddings and events. It is worth considering how this uncertainty may impact real estate transactions and businesses generally.
Most contracts for home purchases require an initial deposit. This deposit is a way for a seller to ensure that a buyer is prepared to perform the contract, since the courts will typically treat this sum as forfeited to the seller in full if the buyer fails to complete the contract.
In the event of injury or illness, you might lose the ability to make decisions for yourself. These decisions can involve the signing legal documents, for example if you have agreed to buy or sell a home, or it can relate to healthcare treatment, such as undergoing surgery or withdrawing life-sustaining procedures.
