What Happens When a Landlord Defaults on their Mortgage?
When a mortgage goes into default, a mortgagee (the lender), has various options available to recover the debt owed to it. When this situation arises in the context of a mortgaged property that is subject to one or more tenancy...Read More
Super Priorities and Unpaid Taxes in Canada
Super Priorities and Unpaid Taxes in Canada “Tax legislation equips the government with very powerful tools to ensure that taxes are properly paid. One of those tools is the deemed trust… In this action, the Crown seeks to recover money that [TD Bank] received from one of its...Read More
Federal Budget 2019: Possible incentives for first time homebuyers
Real estate professionals at Merovitz Potechin LLP are considering the impact of possible incentives for first time homebuyers recently announced by Federal Finance Minister, Bill Morneau, in Federal Budget 2019. The marquee announcement is the creation of a shared equity...Read More
Mortgage Approval Basics in Ontario
Applying for a mortgage in Ontario involves a variety of steps that can often come as a surprise to those that are purchasing their first home. The mortgage approval process can seem lengthy or complicated if new buyers have not...Read More