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 …
Snowbirds Purchasing United States Real Estate
Given our winter climate, many Canadians choose to be “Snowbirds” and buy a property to spend the winter in warmer climates in the United States (“US”). Once that decision is made as to where and what, the structure of the purchase must be considered, so as not to run afoul of or be adversely impacted …
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A Reminder to Purchasers of the True Cost of Not Closing – It’s not “Just the Deposit”
In Prowse v. Noroozi 2021 ONSC 3099 (CanLII), Justice McCarthy of the Superior Court of Justice recently granted summary judgment for $806,380.59 against a purchaser of a luxury home in King City (the “Property”) in an aborted real estate transaction. The facts in Prowse v. Noroozi are not uncommon. The sellers listed the Property on …