When development deals go wrong, damages come in the form of land value, not lost profits

This column was originally published on RENX.ca. When a deal to buy and sell land for development goes awry, an innocent purchaser can sue for the damages suffered. However, in most cases, the measure of damages will be the difference between the purchase price of the land and the market value on the closing date. Lost …

Mass fraud, arson threats, murder, organized crime, kidnapping: What are the limits of ‘buyer beware’?

This column was originally published on RENX.ca. In an episode of The Simpsons in the late ’90s, Marge Simpson takes a job as a real estate agent to make some extra cash. She made her first sale by selling a big, reasonably priced home to the Flanders family. In her haste to close the deal and despite her …

Are written agreements and signatures required to make deals enforceable? Not always.

This column was originally published on RENX.ca. In the realm of real estate transactions, it’s well understood that for a purchase and sale contract to be legitimate, it must, at the very least, outline the identity of involved parties, describe the property in question and set forth the purchase price. There is also an implied mandatory …

Ontario Court of Appeal Provides Insight on the Transfer of Commercial Leases

This column was originally published on RENX.ca. Ontario’s highest court has ruled that a landlord cannot arbitrarily refuse to allow a commercial tenant to assign its lease without good reason.  The court looked at the applicable facts and information provided to the landlord to determine whether its refusal to consent to lease assignment is unreasonable and …

Debt Enforcement and Jointly-Owned Property – Lessons from a Recent Decision

This column was originally published on RENX.ca In the case of joint property ownership, where one party is indebted to an external creditor, what rights does the creditor hold when the property is sold? The Ontario Court of Appeal recently clarified this, concluding that creditors are only allowed to claim against the debtor’s divisible interest …

Attention Commercial Landlords! Tenants Affected by Shutdowns Might Have the Right to Rent-Free Extension Terms

In recent years, brick-and-mortar businesses faced hardship with government shutdowns forcing them to pay expenses without revenue. Desperate for relief, tenants sought court help but were consistently denied and required to pay rent regardless. Refer to my previous column for more on this matter. Though it may appear that landlords emerged as winners when tenants …

Canada Amends Prohibition on Foreigners Acquiring Residential Real Estate to Protect Investment and Development Deals

This column was originally published by Daniel Waldman on the Real Estate News Exchange (Renx.ca). At the beginning of the year, a new statute was introduced to address housing supply woes for Canadian citizens. However, after a few short months, the legislation has inadvertently sunk a number of development and real estate investment deals and …

Canada Introduces New Prohibition on Foreigners Purchasing Residential Real Estate: What You Should Know And How to Protect Yourself

This column was originally published by Daniel Waldman on the Real Estate News Exchange (Renx.ca). In the latest attempt to curb the price of residential real estate in Canada, Parliament has introduced a new statute aimed at making housing more affordable and accessible to Canadians. The Prohibition on the Purchase of Residential Property by Non-Canadians Act, S.C. …

The Limits on Relief from Forfeiture of a Commercial Lease: Ontario’s highest court again sides with Landlords when Tenancies are disrupted by COVID-19

This column was originally published on the Real Estate News Exchange (Renx.ca). In the latest chapter in the commercial tenancy battles caused by the pandemic, Ontario’s highest court has set out the limits on relief from forfeiture of a commercial lease.  This time, a major anchor tenant in a shopping mall asked for help after …