1000 plain-language Q&As about real estate. Browse below, or search the whole library.
Yes — title insurance is just as important for a new-build purchase as for a resale, and in some respects the risks are different. When you buy a…
Read the full answer →Title insurance provides one of the most practical protections against real estate fraud in Ontario, covering you for losses that result from someone…
Read the full answer →Taking out a home equity loan or line of credit (HELOC) does not cancel or void your existing owner's title insurance policy. The owner's policy…
Read the full answer →"Off-title" risks are issues that do not appear in the registered land title records but can still affect your use or enjoyment of a property. These…
Read the full answer →The two largest title insurance providers in Ontario are FCT (First Canadian Title) and Stewart Title Guaranty Company. Both are established, regulated…
Read the full answer →Title insurance is especially important — arguably even more important than in a standard purchase — when buying a property through a power of sale in…
Read the full answer →Property tax arrears are one of the off-title due diligence items your real estate lawyer checks before closing. A tax arrears search with the…
Read the full answer →Yes — if you closed a purchase without obtaining title insurance, you can still purchase coverage after the fact. Major Ontario title insurers,…
Read the full answer →When you refinance a mortgage in Ontario, your new lender will typically require a lender's title insurance policy as a condition of advancing the new…
Read the full answer →In Ontario, title insurance for a residential real estate transaction is arranged through your real estate lawyer as part of the closing process.…
Read the full answer →In practice, yes — title insurance has largely replaced the need for buyers to obtain a new survey on a resale residential purchase in Ontario. Lenders…
Read the full answer →Yes — title insurance is available for vacant land purchases in Ontario, though the scope of coverage differs from a standard residential home policy.…
Read the full answer →Title insurance and home insurance protect against very different risks, and both are typically needed by Ontario homeowners — they are not…
Read the full answer →Ontario title insurance policies are broad, but coverage varies somewhat by insurer and policy type. In general, a standard residential owner's policy…
Read the full answer →Title insurance is a policy that protects you — and your lender — against financial losses arising from defects in a property's title that were unknown…
Read the full answer →When you get a mortgage, your lender will require its own title insurance policy — but that policy protects the lender's interest in the loan, not your…
Read the full answer →Open permits and outstanding work orders are a common issue in Ontario real estate transactions, and title insurance plays a specific — but limited —…
Read the full answer →Title insurance in Ontario typically includes coverage for certain types of zoning-related issues, but the coverage is more nuanced than people often…
Read the full answer →No — a lawyer's title opinion and title insurance are complementary but different things, and Ontario buyers typically receive both. A title opinion…
Read the full answer →In Ontario, property title transfers electronically through the Teraview system, which is the province's electronic land registration platform. The old…
Read the full answer →Yes. The City of Toronto offers its own first-time home buyer rebate on the Municipal Land Transfer Tax (MLTT), separate from and in addition to the…
Read the full answer →Yes. If you purchase property within the City of Toronto's boundaries, you pay two land transfer taxes: the standard Ontario provincial land transfer…
Read the full answer →If you buy property within the City of Toronto's boundaries, you owe two separate land transfer taxes: the provincial Ontario LTT and the City of…
Read the full answer →Toronto's vacant home tax operates through an annual declaration process that generally applies to most residential property owners in the city, not…
Read the full answer →You can transfer a rental or investment property into a corporation you control, but the transaction carries significant tax costs and registration…
Read the full answer →Yes, you can transfer title to a family member without a traditional sale. In Ontario, this is typically done by way of a deed of gift or a transfer…
Read the full answer →Cottages are among the most tax-sensitive family transfers in Ontario because they are rarely a principal residence and often have significant accrued…
Read the full answer →Generally, no, if it's an easement appurtenant. This type of easement is tied specifically to the dominant land itself, not to whoever happens to own…
Read the full answer →In Ontario, entering another person's property without permission or legal authority is trespass to land, a civil wrong (tort). Repeated trespass can…
Read the full answer →In a triple net (NNN) lease, the tenant pays base rent plus its share of property tax, insurance, and common area maintenance costs, rather than the…
Read the full answer →Who holds keys until registration or an undertaking is confirmed is a practical detail lawyers normally agree on before closing day, precisely to avoid…
Read the full answer →UFFI stands for urea-formaldehyde foam insulation, a product injected into wall cavities that was popular in Canada in the late 1970s before health…
Read the full answer →Generally, a home can qualify for relief connected to when it was actually completed, distinct from the general filing rules that apply once a…
Read the full answer →Generally, yes - a residential property that has not yet reached the point the rules consider "substantially completed" is treated as outside the scope…
Read the full answer →There is a specific exemption pathway for vacation and recreational property under the Underused Housing Tax, but it is narrower than simply owning a…
Read the full answer →The Underused Housing Tax return for a given calendar year is due by an annual deadline set by the federal government, similar in structure to how…
Read the full answer →Possibly, yes, even though your spouse is a Canadian citizen. The Underused Housing Tax generally looks at each owner's individual status with respect…
Read the full answer →Failing to file a required Underused Housing Tax return when you are an affected owner carries real financial consequences, and those penalties are…
Read the full answer →A "specified Canadian corporation" is a defined category under the Underused Housing Tax rules for a private corporation that is sufficiently…
Read the full answer →The vacation property exemption under the Underused Housing Tax requires meeting a minimum personal-use threshold, measured in weeks over the calendar…
Read the full answer →The Underused Housing Tax works through a category the rules call an "affected owner," and being in that category can require you to file a return even…
Read the full answer →As a general starting point, an owner in possession of the land is the one who has to deal with an underground oil tank once it's discovered,…
Read the full answer →There isn't a single simple public lookup that a buyer can search on their own to definitively confirm whether an underground storage tank exists on a…
Read the full answer →The owner of the property at the time an underground storage tank and any associated contamination is found generally bears responsibility for dealing…
Read the full answer →This is an arrangement where the seller's lawyer formally promises to resolve a specific title problem, such as discharging an outstanding lien or…
Read the full answer →The Underused Housing Tax is a federal, annual tax created under the Underused Housing Tax Act, aimed generally at residential property in Canada that…
Read the full answer →An undivided interest means you own a percentage share of the whole property rather than a specific physical portion of it. For example, if you and a…
Read the full answer →An unorganized township in northern Ontario has no municipal government of its own, which changes several things a buyer would normally take for…
Read the full answer →Generally, no - outstanding property tax arrears are typically dealt with through the same statement of adjustments process used in any Ontario…
Read the full answer →Lenders generally do not count the full amount of rental income dollar-for-dollar toward what you can qualify for; instead, they typically apply their…
Read the full answer →Unlike property taxes, utility accounts — hydro, gas, water — are typically not adjusted on a statement of adjustments in Ontario residential…
Read the full answer →A property that sits vacant while an estate is being administered can create a real insurance gap if it isn't addressed. Many standard home insurance…
Read the full answer →Yes - a property owner can genuinely be subject to both a municipal vacant home tax, such as Toronto's, Ottawa's, or Hamilton's, and the federal…
Read the full answer →Municipal vacant home tax programs generally recognize a number of specific circumstances where a property that was not actively occupied still would…
Read the full answer →Buying with vacant possession means the seller is contractually obligated to deliver the property empty of tenants at closing, which, where a tenant is…
Read the full answer →No - vacant possession is not guaranteed in a power of sale purchase, and it is one of the biggest differences from an ordinary home purchase. The…
Read the full answer →Vapour intrusion is the process by which chemical vapours from contaminated soil or groundwater migrate upward through soil and into the indoor air of…
Read the full answer →Fixed-rate mortgages lock in your interest rate for the full term, giving you predictable payments regardless of what the Bank of Canada does with its…
Read the full answer →A vendor take-back (VTB) mortgage is a financing arrangement where the seller lends the buyer part of the purchase price, effectively acting as a…
Read the full answer →A vendor take-back (VTB) mortgage is a mortgage where the seller, rather than a bank, lends you part of the purchase price and takes a registered…
Read the full answer →A commercial purchase agreement typically includes a set of seller representations and warranties designed to confirm, in writing, the things a buyer…
Read the full answer →In Ontario, real estate transactions must be in writing to be enforceable under the Statute of Frauds. A verbal acceptance of a real estate offer — no…
Read the full answer →Phone verification exists because email is the weak point fraudsters exploit most successfully in real estate transactions. A compromised or spoofed…
Read the full answer →Call your law firm directly, using a phone number you already have on file from earlier in the transaction or one you find independently, such as…
Read the full answer →Start by requesting the property's building permit and zoning history from the municipality, which can typically show whether the second unit was ever…
Read the full answer →Vermiculite is a pebble-like loose-fill attic insulation that was commonly installed in Canadian homes for decades. The concern is that a significant…
Read the full answer →A vesting order is a court order, typically obtained in a receivership or other insolvency proceeding, that formally transfers - or "vests" - title to…
Read the full answer →Waiving a condition means you are confirming that the condition has been satisfied (or that you are choosing to proceed without requiring it to be…
Read the full answer →Once you waive your financing condition, you are committing to purchase the property regardless of whether you ultimately secure financing. If your…
Read the full answer →No, at least not for the core protections around consent to sell and equal possession. Ontario's Family Law Act specifically provides that a term in a…
Read the full answer →A water potability certificate is generally based on a bacteriological test confirming a water sample was free of harmful bacteria at the time it was…
Read the full answer →An old, unused well left open or improperly capped is generally treated as a hazard and a compliance obligation for an Ontario property owner, since an…
Read the full answer →Yes. Unlike bacterial contamination, which can come from surface sources like septic systems or flooding, substances like arsenic and uranium can occur…
Read the full answer →Groundwater rights in Ontario are not privately owned in the way that surface land is — groundwater is generally a public resource regulated by the…
Read the full answer →When your lawyer searches title in Ontario, they are looking at the electronic land registry record, which shows every document registered against the…
Read the full answer →Closing costs are the fees and taxes you pay on top of your purchase price when a real estate deal closes. In Ontario, buyers typically pay land…
Read the full answer →Closing costs are expenses beyond the purchase price that you pay to complete a real estate transaction. In Ontario, you should budget roughly 1.5% to…
Read the full answer →The Agreement of Purchase and Sale distinguishes between fixtures (items permanently attached to the property) and chattels (moveable items). As a…
Read the full answer →As an Ontario home seller your main closing costs are real estate commissions (paid from the sale proceeds), legal fees and disbursements for your…
Read the full answer →Conditions in an offer protect you by giving you an exit if certain things do not go as expected. The two most common conditions in Ontario residential…
Read the full answer →For the purpose of Ontario's land transfer tax rebate, a first-time home buyer is someone who has never owned an eligible home or an interest in an…
Read the full answer →Ontario sellers must disclose known latent defects — hidden problems that would not be apparent from a reasonable inspection and that make the property…
Read the full answer →A real estate lawyer protects your legal interests throughout the purchase. Once you have a signed Agreement of Purchase and Sale, your lawyer reviews…
Read the full answer →Buying "as is" in Ontario means you are agreeing to purchase the property in its current condition, without the seller being required to make any…
Read the full answer →On closing day your lawyer receives the purchase funds from the buyer's lawyer by wire transfer, pays out your existing mortgage, deducts legal fees,…
Read the full answer →A conditional deal means the Agreement of Purchase and Sale has been signed by both buyer and seller, but one or more conditions must be satisfied (or…
Read the full answer →When you pay off a mortgage — whether at sale, renewal with a new lender, or on your own — the lender must register a discharge of charge on title at…
Read the full answer →The starting point in Ontario is that fixtures — items permanently attached to the property — are included in the sale unless the APS specifically…
Read the full answer →If your listing agent brings a buyer directly — without a cooperating buyer's agent — the commission structure depends on what your listing agreement…
Read the full answer →Once conditions are waived and the deal is firm, the buyer is legally obligated to complete the purchase. If they back out without a valid legal…
Read the full answer →A closing can be delayed by either side for various reasons: the buyer's financing falls through at the last minute, a title issue surfaces, or a…
Read the full answer →If your offer includes a financing condition and your lender declines to issue a mortgage commitment before the condition deadline, you can exercise…
Read the full answer →Missing a single mortgage payment is not an immediate crisis, but it does trigger a process. Most lenders will contact you quickly — often by phone or…
Read the full answer →If the seller has entered into a binding Agreement of Purchase and Sale (all conditions met or waived) and then refuses to close, you have legal…
Read the full answer →On closing day, several steps happen in a precise sequence coordinated largely between lawyers. Your lawyer receives the mortgage funds from your…
Read the full answer →Whether you get your deposit back when a deal falls through in Ontario depends on why and how it collapsed. If the deal ended because a condition was…
Read the full answer →What happens to the deposit generally depends on why the arrangement ultimately fell apart and what the written escrow or gap closing agreement itself…
Read the full answer →In Ontario, the buyer's deposit is held in trust by the listing brokerage (or, if agreed, by the seller's lawyer) from the time it is paid until…
Read the full answer →Property taxes are a municipal charge that take priority over most registered interests on a property, including your mortgage. This priority means…
Read the full answer →When a seller signs back your offer with any modification — whether to price, closing date, inclusions, or any other term — they are making a…
Read the full answer →Links go to the official consolidated text. Legislation changes — confirm you are reading the current version.
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