HOW TO BECOME MORTGAGE FREE FASTER

Spagnuolo Law | May 3rd, 2008 | Legal Issues / FAQ's

Paying off Your Mortgage Faster Our clients tell us that one of their highest financial priorities is to reduce or pay off their mortgage as quickly as possible. This was also confirmed in a recent survey undertaken by the Canadian Mortgage and Housing Corporation. In an article published in the Vancouver Sun on March 20, […]

Owning a vacation rental property

Spagnuolo Law | February 6th, 2008 | Legal Issues / FAQ's

Many of our clients are purchasing a vacation property, such as a condominium in Whistler or on a golf course in the Okanagan.  Many of these vacation properties are placed in a rental pool so that there is some rental revenue when the unit is not used for personal use. If this is a scenario […]

CHANGES TO DISCLOSURE STATEMENTS FOR PRE SALE CONDOS

Spagnuolo Law | October 10th, 2007 | FAQ's, Legal Issues / FAQ's

The Superintendent of Real Estate has introduced two new Policy Statements to further enhance consumer information and awareness and assist purchasers in understanding offerings of real estate developers.  Beginning on November 1, 2007, Disclosure Statements filed under the Real Estate Development Marketing Act will require additional information regarding the terms of pre-sale agreements, the background […]

CHANGES TO DISCLOSURE STATEMENTS FOR PRE SALE CONDOS

Spagnuolo Law | October 10th, 2007 | Legal Issues / FAQ's

The Superintendent of Real Estate has introduced two new Policy Statements to further enhance consumer information and awareness and assist purchasers in understanding offerings of real estate developers.  Beginning on November 1, 2007, Disclosure Statements filed under the Real Estate Development Marketing Act will require additional information regarding the terms of pre-sale agreements, the background […]

TITLE INSURANCE – AN EXPLANATION

Spagnuolo Law | July 22nd, 2007 | Legal Issues / FAQ's

Title Insurance is a form of insurance policy that protects purchasers from a number of potential risks. These risks are usually matters which are not covered by a traditional lawyer’s due diligence.  Briefly summarized, these added protections include the following: Defects that would be revealed by a new Survey.  In the absence of an existing survey, […]

Why a Lawyer and not a Notary?

Spagnuolo Law | May 31st, 2006 | FAQ's, Legal Issues / FAQ's

We are frequently asked why a client should use our firm, rather than a Notary Public. The perception is that notaries are just as capable as and less costly than lawyers. This perception is usually quite different than reality. At Spagnuolo & Company Real Estate Lawyers we feel the proper question is not why a […]

Torrens System – An Explanation

Spagnuolo Law | May 31st, 2006 | FAQ's, Legal Issues / FAQ's

In conveyancing, one of the lawyer’s responsibilities is to confirm that the party selling the property actually owns the property that they are selling. Historically, confirming ownership required the lawyer to check the documents transferring title to the property for several prior transactions. This is known as the Deed System, which is still used in […]

AN EXPLANATION OF THE TORRENS SYSTEM

Spagnuolo Law | May 31st, 2006 | Legal Issues / FAQ's

In conveyancing, one of the lawyer’s responsibilities is to confirm that the party selling the property actually owns the property that they are selling. Historically, confirming ownership required the lawyer to check the documents transferring title to the property for several prior transactions. This is known as the Deed System, which is still used in […]

Principal Residence

Spagnuolo Law | March 23rd, 2005 | Legal Issues / FAQ's

Most individuals who sell real estate are aware that a sale of a principal residence does not attract income tax. The Income Tax Act requires the individuals to file a prescribed form with their income tax return for the year in which the principal residence is sold. In practice, however, the vast majority of individuals […]