A cohabitation agreement is a legally binding contract between common law couples that specifies and establishes financial agreements between the two parties who live or plan to live together. Unmarried couples who live together do not enjoy certain statutory protections …
Simple or Joint Divorce in Ontario
Simple and joint divorce are two types of uncontested divorce in Ontario where the parties are able to reach an agreement on all issues related to the divorce, such as child custody, support or division of assets. Uncontested divorce is …
What is Title Insurance and Do I Need It?
Title insurance is an insurance policy that protects homeowners and mortgage lenders against financial losses related to the property’s title or ownership. Although title insurance is meant to provide a backstop against claims arising from issues not discovered at closing, …
Transfer of Title Between Spouses
Transfer of title between spouses occurs when a person is added or removed from property ownership or title by the owner. Subject to certain exceptions, land transfer tax is payable on every transfer of land in Ontario based on the …
Things To Know Before Buying Pre-Construction Home in Ontario
Condominiums are a popular choice for many new home buyers and some consider purchasing a pre-construction home, which means buying a property before it is completely built. Below are some items you should consider before you buy: Confirm if your …
Ontario Removes Director Residency Requirements and Permits Majority Shareholder Resolutions inWriting
Background Amendments to the Ontario Business Corporations Act (OBCA) came into force on July 5, 2021 and these changes included: i) eliminating the requirement that mandated each OBCA corporation to have a minimum 25% of the directors to be resident …
Is It Necessary To Have a Minute Book For Your Corporation?
A corporate minute book is required and essential to any corporation’s record-keeping documentation. All corporations incorporated under either the provincial and federal Business Corporation Act are obligated to maintain accurate and up-to-date minute books pursuant to the corresponding governing legislations. …
Importance of having a Will
The importance of having a Will in place, especially living in unprecedented times, cannot be overstated. Passing away without a Will carry major implications, whether it relates to non-tax considerations or certain income tax and probate fee issues that may …