Getting Keys and Closing Deals

In this episode, I discuss Vendor Take Back Mortgages (VTB) as an alternative financing option to traditional mortgages. I break down what a VTB is, how it works, and the potential benefits and drawbacks for both buyers and sellers.

l also delve into the legal considerations, including the potential need for a priority agreement to protect your lenders' competing interests.

Whether you're a first-time homebuyer, a seasoned investor, or simply curious about alternative financing options, this episode will give you a solid understanding of Vendor Take Back Mortgages.

Guarantees can be a double-edged sword. In this episode, I examine best practices for both lenders and individual guarantors to protect themselves early enough and avoid the tug of war that typically happens during enforcement proceedings.

In this episode, I delve into the crucial concept of separate corporate personality within the context of secured financing. I explain what separate corporate personality means and how it impacts both lenders and borrowers and discuss the potential risks and benefits of this legal doctrine.

Lenders will learn about the importance of obtaining guarantees from subsidiaries or controlling persons to mitigate the risk of limited liability. Borrowers, on the other hand, will discover strategies to maintain their corporate shield.

Finally, I provide insights for lawyers representing both sides, highlighting key considerations and legal strategies to protect their clients' interests in secured financing transactions.

I'm back from my (very necessary) hiatus and on this episode, I share what to expect from me and my itsy bitsy podcast in this new season and new year. Cheers to 2025!

On this episode, real estate and tax have a soiree. I talk about the First Home Savings Account (FHSA) and Home Buyer's Plan (HBP). What are the FHSA and HBP? What public policy reasons fueled their creation by the Canadian federal government? What tax or other benefits accrue to those who invest in any of these initiatives? Who qualifies to invest in them? Which is better for tax planning? Hmmm...

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On this episode, I talk about guarantees and the risks involved in granting personal guarantees for loans, especially regarding a borrower company one has no direct affiliation with. I explore critical factors you must consider before agreeing to guarantee a loan, as well as how to protect yourself.

Additional point not expressly mentioned in the episode:

A critical part of protecting yourself includes thoroughly reviewing the loan agreement to grasp terms and potential legal ramifications, preferably through your own lawyer, separate from that of the borrower; and exploring legal remedies and defenses available to you in case of default.

Thank you for tuning in. Don't forget to subscribe for future episodes and reach out with any legal questions or topics you'd like me to cover.

On this episode, I talk about things you may want to know and pay attention to before putting pen to paper on your residential tenancy agreement. I place this conversation within the broader context of your rights and responsibilities as a Tenant under Ontario`s Residential Tenancies Act.

You will hear me talk about a standard from tenancy agreement provided by the Ontario government. As promised, here is a link to find it: https://forms.mgcs.gov.on.ca/en/dataset/047-2229

On this episode, I break down the title insurance, including what title insurance is, it's importance, why it might be preferable to a lawyer's opinion on title, the difference between a lender's policy and an owner's policy, as well as the difference between title insurance and property insurance.

On this episode, I talk about the pros and cons of Private Mortgages and Bank Mortgages, as well as why it may be crucial to have your lawyer review your loan agreement with a Private Lender, before you put ink on paper.

Residential property home owners in Toronto have until February 29, 2024 to submit their declaration of 2023 occupancy status or face a fee for failure to declare.

Registered owners of properties in Toronto that are classified as residential property class are required by a City of Toronto by-law to declare the occupancy status of their properties every year, for Vacant Home Tax assessment- if applicable.

On this episode, I talk about this declaration and consequences for late filing, as well as the City of Toronto's Vacant Home Tax, the rationale behind it, and exemptions.

Read more and submit declaration on the City of Toronto's website here: https://www.toronto.ca/services-payments/property-taxes-utilities/vacant-home-tax/