Brian Madigan LL.B.

10/31/2024

OREA and Latent Defects

OREA and Latent Defect Disclosure This is OREA’s recently released summary and recommendations: “Proposal Enhanced Transparency and Disclosures for Latent Defects: Amend TRESA to introduce new rules regarding latent defects and disclosure obligations to ensure consumers have access to all the in...

10/30/2024

OREA and Auctioneers

Auctioneers: Should they be Registered? OREA says ‘yes” and that needs to change, they must be registered! But, why? They never have been and they don’t do that many transactions, and the deals that they do, don’t seem to present problems. I would have thought that that there would be a sign...

10/30/2024

Business Financing: The Restaurant

Business Financing: the Restaurant Let’s assume that you have been persuaded to finance a restaurant for a friend or relative. You went to a lawyer who recommended that you obtain the maximum security possible (because anything can go wrong) and this is what you have: 1)     Chattel mortgage, ...

10/30/2024

Financing and Operating the Restaurant

Business Financing: Operating the Restaurant You financed the restaurant for a friend or relative, and now it’s run into financial difficulty. This is part 2. Last time we assumed that your friend was co-operative, so things ran relatively smoothly. This time, not quite so much! Everything is stil...

10/30/2024

Business Financing

Business Financing Let’s assume that for some reason you feel compelled to offer and assist someone who needs financing for their business. What security do you want? Well, you should get everything you can! In the case of a business, this truly does mean everything. Because, the parts have little...

10/28/2024

Posted Rates

10/28/2024

Buyer's Rep Decides to Pass on Commission

A Buyer’s Rep Foregoing Commission The commission is set out in the Listing Agreement. There may be an amount offered to the co-operating brokerage. The Buyer’s agent proposes to provide a benefit to his own client. That’s fine, but in this scenario he wants to bump up the benefit by not payin...

10/28/2024

Compliance: Phantom Offer legislation

Compliance with Bill 55 Phantom Offer Legislation REBBA 2002 and the Regulations will require copies of agreements to be held, with the exception of the entitlement to use a new summary form and if that is used, then a copy of the entire agreement need not be retained. Here are the points which must...

10/27/2024

Even Liars can "win" in Court

Even Liars Can Win in Court Credibility doesn’t matter more than the Law! The case of D’Atri v. Chilcott (1974) decided by Mr. Justice Galligan is one of the leading authorities on the law of liability for real estate agents. The vendor listed his property and the agents bought it for themselves...

10/27/2024

Some Joint Tenancy Issues

Joint Tenancy Issues in Ontario Question: Bob and Martha are brother and sister, they were left a house by their mother, as joint tenants. Martha dies. Can you list the property right away, on Bob’s instructions? Answer: In Ontario, there are actually eight (8) facts or sets of issues which can af...

10/27/2024

Estate To Uses: Explained

Estate To Uses An estate means an “interest in land”. An estate to uses, is short for “to such uses as the settlor may appoint”.  In this case, we have a trust for a property. The Settlor, the owner transfers the property subject to certain conditions and restrictions. The person acquiring ...