What can you do in your Will?

Appoint an executor – the executor will be the person carrying out your wishes; they may also appoint professional trustees (who can be lawyers or professional trust companies for more onerous work of administering an estate); Has authority to file final tax return on behalf of the deceased; Usually will have authority to pay funeral [...]

By |2019-02-21T20:21:53-05:00February 21st, 2019||0 Comments

What happens when you don’t have a Will?

Distribution of your estate will be governed by legislation: the Succession Law Reform Act: Spouse gets preferential share in the amount of the first $200,000 in value of the estate; then the residue is divided between the spouse and surviving children, as follows: If only one child, then the residue is divided 50-50 If more [...]

By |2019-02-21T20:18:56-05:00February 21st, 2019||0 Comments

What are the different ways someone can hold title?

Joint tenants, where owners have survivorship rights when one or more other owners die. Tenants in common, where owners retain individual rights to the property, as interests are disposed of as part of their estate, and does not pass to other owners. Trustees, where title is held for the benefit of beneficiaries, etc.

By |2019-02-26T16:29:45-05:00February 21st, 2019||0 Comments

What is Title Insurance?

Title insurance is a policy that insures that a property owner is able to have what’s called “good title”. Meaning the owner is able to convey land to someone else, because they have the proper legal ownership required.

By |2019-02-26T16:28:24-05:00October 18th, 2018||0 Comments

Is Title Insurance mandatory?

Title Insurance is not mandatory. It usually takes the place of searches that can be conducted by a lawyer respecting: zoning compliance, building permits outstanding, tax arrears, utilities arrears, which can add up to be more costly than the Title Insurance premium.  Accordingly, a lawyer often recommends title insurance to take the place of these.

By |2019-02-26T16:35:48-05:00October 18th, 2018||0 Comments
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