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 […]