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 …
The Duty of Good Faith when Dealing with Pre-construction Assets and Assignments of Interest
This column was originally published on the Real Estate News Exchange (Renx.ca). An important decision from the Ontario Superior Court of Justice has affirmed two important principles: (1) Pre-construction assets should only be transferred when the builder’s consent is obtained; and (2) Parties should never lose sight of the obligation to act in good faith …
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 …
New Spaces on the Block: The Co-Sharing Office and its Legal Implications
In the not-too-distant past, corner offices were sought after as they represented power and prestige. Only the most senior partners or high-ranking executives were able to secure such spaces. In the age of startups and new technologies, “working from home” has become normalized, and flexible and collaborative atmospheres have started to shape most work environments. …
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