Bk Law

BLOG

Record Suspension

Record Suspension( formally known as Pardon) allows persons convicted of a criminal offence and have subsequently completed their sentence and rehabilitated  themselves. Such persons may

Read More »

Matrimonial Home

Under the Ontario Family Law Act, matrimonial home is defined as ‘every property in which a person has an interest and that is or, if 

Read More »

Financial Disclosures

Financial Disclosure is the most important part in any family law dispute. Family Law Act requires both parties to complete their financial disclosures stating their

Read More »

Closed and Open Mediation

There is a difference between closed and open mediation. Closed Mediation maintains confidentiality of the parties. This means that the negotiations and offers made are

Read More »

Pre-Mediation Screening

Pre-mediation screening takes place before the parties agree to proceed with the mediation process. It helps the mediator to determine the procedural needs of each

Read More »

Ontario Land Transfer Tax

Every person who has acquired a beneficial interest in the land by completing a registration of conveyance is liable to pay Land Transfer Tax under

Read More »

Occupancy Date

Occupancy date also known as interim closing date is a date on which the purchaser takes possession of the new condo from builder, prior to

Read More »

Interest Adjustment Date

It is a date on which an adjustment is made for interest that accumulates between the date the loan/mortgage was advanced and the first charge

Read More »

Ontario Land Transfer Tax

Every person who has acquired a beneficial interest in the land by completing a registration of conveyance is liable to pay Land Transfer Tax under

Read More »

Joint tenants

Two or more people owning property where on the death of one, the survivors inherit the deceased’s share.

Read More »

Fixtures

Any physical property that have become permanently attached or affixed to the real property; immovable possessions attached to the real property.

Read More »

Escrow closing

Exchange and holding of necessary deliveries like funds, keys and documents by the respective lawyers pending registration of the electronic documents.

Read More »

Home Inspection

An inspection conducted by a certified inspector professional that conducts detailed inspection of the condition of a property including structural, plumbing etc.. A satisfactory home

Read More »

Down Payment

A portion of the purchase price of a property paid by the buyer(s) from their own resources without a mortgage.

Read More »

What is Family Mediation? Mediation is a method of dispute resolution whereby the parties retain a third party trained mediator to assist them in reaching

Read More »

Deposit

A sum of money given by the buyer in a real estate transaction at the time when an offer  to the Agreement of Purchase and

Read More »

Clear Title

A title of the property that is clear of all liens, executions, encumbrances and  restrictions with regard to the ownership of the property.

Read More »

Tenants-in-Common

When  two or more individuals are on title of a property wherein their ownership does not pass  to the others in the event of death.

Read More »

Two-Stage Condo Closing

When you are purchasing a new condo from the builder in Ontario, you have to follow the two- stage closing procedure. What is two-stage closing?

Read More »

Why do you need a Will?

Do you know that if you die without making a will (intestate), the laws of the province will determine the distribution of your assets? This

Read More »

Spousal Consent

If you own a property alone and has been using that property as a family residence/matrimonial home (as defined within the meaning of Family Law

Read More »

What is Title Insurance?

Title Insurance is an insurance policy that protects the owners of the residential and commercial property owners and lenders against the losses related to the

Read More »

Express Entry

In January 2015, Citizenship and Immigration Canada (CIC) will start a new electronic system called Express Entry to manage applications for permanent residence under certain

Read More »

Conditional Permanent Residence for Spouses

Citizenship and Immigration Canada (CIC) effective October 25th 2012 has amended the Immigration and Refugee Protection Regulations (the Regulations) with regard to sponsored spouses, common-law or conjugal partners. According to the

Read More »

Uncontested Divorce

Procedure for Obtaining an Uncontested Divorce  in Ontario An application for a divorce can be brought in three ways: A Simple Application: This application deals

Read More »

Travel Consent Letter

CONSENT LETTER FOR THE CHILDREN TRAVELLING ABROAD Are you sending your minor child or children abroad alone or without one parent abroad? If yes, there

Read More »

Title Insurance

Title Insurance is a insurance policy that protects the owners of the residential and commercial property owners and lenders against the losses related to the

Read More »

Steps buying selling homes

Important Steps for Buying a Home (Resale home or condominium) in Ontario: Agreement of Purchase and Sale is signed by the buyer and the seller.

Read More »

Real Estate Series

Important Steps for Buying a Home (Resale home or condominium) in Ontario: Agreement of Purchase and Sale is signed by the buyer and the seller.

Read More »

Home inspection

Why is home inspection necessary?  Home inspection is an essential clause in the Agreement of Purchase and Sale that permits the buyer to hire a

Read More »

Home Insurance

What is Home Insurance and Why you need it?  Your home is one of the most important asset that is vulnerable to to natural disaster,

Read More »

Disclosures By Sellers

In a real estate sale and purchase, there are some voluntary disclosures obligated on the part of sellers. These disclosures must not be taken casually

Read More »

Criminal Background Check

Criminal Background Name Check-RCMP Criminal background name check might be need for following purposes Adoption Canadian Citizenship Employment Landed Immigrant Status Name Change Visa/ Border

Read More »

Condominium Status Certificate

What is Status certificate? Status certificate is a brief report provided by the Condominium Corporation that gives information on the current status of the Condominium

Read More »

Closing Adjustments

The Agreement of Purchase and Sale states that that balance of the purchase price on closing date will be paid in cash or certified cheque

Read More »