Knowledge

  • TFSA and Estate Planning: A Powerful Tool When Properly Designated

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    Since the creation of Tax Free Savings Accounts (TFSAs) in 2009 a lot of Canadians have heard about these accounts and as of 2016, 9,974,130 Canadians have actually taken steps to open at least one TFSA.[i]  As the name suggests, any money contributed to these accounts and any income earned in such account is considered […]

  • New Year – New Will?

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    There are many reasons that you should consider updating your Will, one of the simplest reasons is that having your affairs in order and having an updated Will can make things easier and more stress free for your family members who may have to administer your estate. A good habit is to review your Will […]

  • Why Should I Hire a Corporate Lawyer?

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    Small Businesses hire Accountants and Insurance Agents at launch; a Corporate Lawyer should be hired the same way. When a Lawyer is hired after a legal issue is raised the problem can be much more difficult and costly to resolve. Hiring an experienced Corporate Lawyer at start up should protect you from these costly and […]

  • What Is Bridge Financing?

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    Bridge financing is short-term financing used when a homeowner is purchasing a new property and taking possession prior to the sale of their current property. Lenders grant short-term financing, or interim financing, to “bridge” the gap between the closing dates of the transactions and allow buyers to use the equity in their current property prior […]

  • What Are Real Estate Holdbacks?

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    Real Estate Holdbacks are mechanisms used when a seller, at the time of closing the transaction, still has outstanding contractual obligations to fulfill before the sale proceeds can be released. Holdbacks commonly occur in real estate transactions and can be expressly drafted into the transaction agreement or can be negotiated by the parties, through their […]

  • What is a Real Property Report?

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    A Real Property Report (RPR) is a legal document that clearly illustrates the location of significant visible improvements relative to property boundaries. RPRs will show visible improvements including such items as decks, fences and hot tubs and will identify and describe right-of-way’s, easements and encroachments on or off the property. A Real Property Report can […]

  • What is Title Insurance?

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    Title Insurance is an insurance policy that protects property owners and lenders from financial losses related to the property’s title and ownership. Albertans, when purchasing or selling residential real estate, have increasingly relied on title insurance to complete the real estate transactions. However, while title insurance can prove helpful in certain circumstances, parties should be […]

  • What is a Bareland Condominium?

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    Bareland Condominiums are, typically, stand-alone structures such as detached homes, townhouses, and duplexes. When most people think of condominiums, they think of a unit in an apartment building. These more “traditional condominiums” are called conventional condominiums. In a conventional condominium, owners own everything within the walls, floors, and ceilings of their unit. The remaining property, […]

  • Mortgage Basics

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    This article will provide a brief overview of the mortgage instrument itself, define certain common terms associated with mortgages, and provide a brief overview what may trigger the foreclosure process. Almost every person purchasing a house in Alberta will do so by obtaining a mortgage. However, not every current or prospective home owner understands the […]