A reminder that National Day for Truth and Reconciliation is now on September 30th each year. This is a new federal holiday so we, along with banks and the Land Title Office, will be closed. If you are buying or selling a house, don’t use September 30 as your completion date!
In keeping with the recommendations of public health officials regarding COVID-19, we are limiting our in-office appointments to only those required to close pending real estate or mortgage transactions as we try to do our part to practice social distancing. Where possible, we can also arrange to meet via Zoom to complete those transactions. We…
If you are a foreign national, foreign corporation or taxable trustee, you must pay additional property transfer tax on top of the usual property transfer tax on your proportionate share of a residential property transfer if the property is within specified areas of B.C. , which now includes the Nanaimo Regional District. The additional property transfer tax is 20% of your proportionate…
Q. I am concerned that if I have an accident or something like a stroke, no one will know that I have appointed a representative under a Representative Agreement that they should contact if I am unable to communicate. My lawyer said that I should keep a copy of the document on my fridge, but…
In order for your common-law spouse to be exempted from the Property Transfer Tax, they and the property would first have to meet a number of criteria. You did not state whether this was your principal residence or not, but assuming that it is your principal residence which is a single family dwelling with no…
The often hidden but prevalent problem of older people being physically, emotionally or financially abused at the hands of strangers, acquaintances and even family members is something we all need to be aware of. It’s too-often a family member pressuring a grandparent, parent or other elderly family member for money or getting an older person…
The sale would be subject to a 25% holdback of the sale price until CRA issues a Clearance Certificate. If the property has been a revenue-generating property, the holdback would be 25% of the land and 50% of the improvements. It can take 4 months to have a Clearance Certificate issued, so accountants should start…
Q. My parents have health and mobility issues so doing something like getting to your office is the kind of task that is often exceedingly difficult, stressful and anxiety-inducing for them. I am a little upset that they would be held hostage to “choose” to pay your fee for a home visit as they really…
Q. My husband and I celebrated our 4th anniversary in December and are finally getting around to reviewing our estate-planning documents. We both already had Wills in place when we got married and as this is a 2nd marriage for both of us, the wishes set out in those Wills have not changed. My husband…
Yes, I can prepare an Enduring Power of Attorney for you, however the Power of Attorney dies with you. An “Enduring” Power of Attorney means that it endures beyond your ability to continue giving instructions, so it continues if you are no longer capable. When you die the Enduring Power of Attorney can no longer…