Alerts
Clarifications on implementation of provincial land transfer tax changes
This afternoon the Ministry of Finance posted an update that clarifies how previously signed documents will be handled. The Ministry’s update makes it clear that previously signed documents will remain signed and can be registered “as is” through the transition period. The new LTT statements section will appear on all documents (including previously signed documents)… Read More »
Categories: AlertsNon-resident speculation tax changes effective April 21, 2017
The Law Society received a letter from the Ministry of Finance today which provides details about the April 21, 2017 implementation of the non-resident speculation tax changes. LAWPRO encourages all lawyers who handle real estate transactions in Ontario to review this letter so they can take steps to comply with these changes. The letter indicates… Read More »
Categories: AlertsProvincial land transfer tax changes effective April 24, 2017
LAWPRO encourages all lawyers who handle real estate transactions in Ontario to be aware of upcoming changes to the land transfer tax system. These changes apply to applicable purchases and acquisitions starting April 24, 2017. The Province has announced it will collect additional information through the land transfer tax system to help it better understand… Read More »
Categories: AlertsLast chance to address your pre-2012 files!
LAWPRO encourages all lawyers to take immediate action to ensure their pre-2012 files will either resolve or be set down for trial by December 1, 2016. Remember, under the new Rule 48, matters commenced before January 1, 2012 that are not set down for trial will be automatically dismissed – without notice to counsel –… Read More »
Categories: AlertsThousands of pre-2012 matters will be automatically dismissed January 1, 2017
The clock is ticking. Under the new Rule 48.14 of the Rules of Civil Procedure, matters commenced before January 1, 2012 that are not set down for trial will be automatically dismissed – without notice to you – on January 1, 2017. LAWPRO is encouraging lawyers to take immediate action to ensure their pre-2012 files… Read More »
Categories: AlertsRisky VTB mortgage transactions in Collingwood and Barrie
LAWPRO is warning Ontario real estate lawyers to be on the alert for risky vendor takeback mortgage transactions, some of which may be closing this week. There is a significant potential claims risk for lawyers involved in these transactions. On April 24 we sent a LAWPRO Alert email to lawyers in the Barrie and Collingwood… Read More »
Categories: Alerts, FraudYou may be exposed to a claim if you release a private mortgage advance to a third party
LAWPRO has become aware of a new exception to coverage in certain title insurance policies which could expose real estate practitioners to claims from their private lender clients. The issue has recently arisen in connection with private residential mortgage transactions, and in particular where the lender and borrower are separately represented, as required, because the… Read More »
Categories: Alerts, Real Estate, Title insurance, TitlePLUS