Shows
Getting Keys and Closing DealsLet's Talk FHSA and HBP (First Home Savings Account and Home Buyer's Plan)On this episode, real estate and tax have a soiree. I talk about the First Home Savings Account (FHSA) and Home Buyer's Plan (HBP). What are the FHSA and HBP? What public policy reasons fueled their creation by the Canadian federal government? What tax or other benefits accrue to those who invest in any of these initiatives? Who qualifies to invest in them? Which is better for tax planning? Hmmm...
Don't forget to subscribe, like and share if you find this episode useful! 2024-05-0228 minGetting Keys and Closing DealsPersonally Guaranteeing a Loan: Things You Should ConsiderOn this episode, I talk about guarantees and the risks involved in granting personal guarantees for loans, especially regarding a borrower company one has no direct affiliation with. I explore critical factors you must consider before agreeing to guarantee a loan, as well as how to protect yourself.
Additional point not expressly mentioned in the episode:
A critical part of protecting yourself includes thoroughly reviewing the loan agreement to grasp terms and potential legal ramifications, preferably through your own lawyer, separate from that of the borrower; and exploring legal remedies and defenses available to you...2024-04-1622 minGetting Keys and Closing DealsBefore You Sign That Tenancy Agreement: Tenant Rights and Responsibilities Under Ontario's Residential Tenancies ActOn this episode, I talk about things you may want to know and pay attention to before putting pen to paper on your residential tenancy agreement. I place this conversation within the broader context of your rights and responsibilities as a Tenant under Ontario`s Residential Tenancies Act.
You will hear me talk about a standard from tenancy agreement provided by the Ontario government. As promised, here is a link to find it: https://forms.mgcs.gov.on.ca/en/dataset/047-2229 2024-04-0330 minGetting Keys and Closing DealsCrash Course on Title InsuranceOn this episode, I break down the title insurance, including what title insurance is, it's importance, why it might be preferable to a lawyer's opinion on title, the difference between a lender's policy and an owner's policy, as well as the difference between title insurance and property insurance.2024-03-2720 minGetting Keys and Closing DealsPrivate Mortgages vs Bank MortgagesOn this episode, I talk about the pros and cons of Private Mortgages and Bank Mortgages, as well as why it may be crucial to have your lawyer review your loan agreement with a Private Lender, before you put ink on paper.2024-03-0509 minGetting Keys and Closing DealsToronto Vacant Home Tax: Declaration, Deadlines, Consequences and ExceptionsResidential property home owners in Toronto have until February 29, 2024 to submit their declaration of 2023 occupancy status or face a fee for failure to declare.
Registered owners of properties in Toronto that are classified as residential property class are required by a City of Toronto by-law to declare the occupancy status of their properties every year, for Vacant Home Tax assessment- if applicable.
On this episode, I talk about this declaration and consequences for late filing, as well as the City of Toronto's Vacant Home Tax, the rationale behind it, and exemptions.
Read more a...2024-02-2817 minGetting Keys and Closing DealsAS OCTOBER 2024 APPROACHES: NEW FINTRAC REGULATION OF THE MORTGAGE SECTOR AND CORRESPONDING OBLIGATIONSFINTRAC’s anti-money laundering and anti-terrorist financing requirements will apply to the Mortgage Sector- Lenders, Administrators and Brokers- as of October 11, 2024. On this episode, I break down what you will have to to do as a stakeholder comply with FINTRAC's requirements, as well as consequences for non-compliance.
Read more on FINTRAC's website: https://fintrac-canafe.canada.ca/re-ed/mortgage-hypotheque-eng
2024-02-2127 minGetting Keys and Closing DealsUntil 2027: No Foreign Purchase of Residential Property in CanadaThe Canadian government is extending its ban on foreign purchase and ownership of residential property in Canada by an additional two years!
Let's talk about it.
2024-02-1409 minGetting Keys and Closing DealsCriminal Interest Rates in Lending Transactions: No Predators, No PreysDid you know that there is a limit to the amount of interest a lender in Canada can charge on loan transactions? A limit beyond which your loan transaction becomes a criminal offense? Even better for borrowers, the Canadian government is now proposing a reduction to that limit. In this jungle, it's the lenders who can be predators and the government seeks to protect the preys.
On this episode, I break down the proposed regulation to reduce the Canadian criminal interest rate, as well as the exceptions and nuances to this proposed reduction.
When you...2024-02-0620 minGetting Keys and Closing DealsBeyond brokers: What value do lawyers bring anyway?Welcome to a new episode of "Getting Keys and Closing Deals." In this episode, we explore a fundamental question within the context of real property sale and purchases: "What Value Do Lawyers Bring Anyway?"
I unravel the distinct contributions lawyers make to real estate transactions, moving beyond the realm of brokers. In a clear breakdown, we'll explore how legal expertise safeguards your interests, ensures compliance, and adds an invaluable layer of protection to your property deals.
Subscribe now to gain a deeper appreciation for the legal edge that goes beyond brokers and unlocks the full...2024-01-3021 minGetting Keys and Closing DealsWelcome!On this episode, I tell you a tiny bit about myself, and the trajectory this podcast will be taking.
I'm so excited to learn together!2024-01-2006 min