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Business Questions

Before agreeing to buy a business, you should conduct sufficient due diligence to satisfy yourself that you’re getting what you think you’re paying for. ?When you’re prepared to move forward with an acquisition, you will have to look at how the deal will be structured. ?There are a number of considerations that will affect the structure, which is often driven by taxation. ?We have extensive experience in business acquisitions. We can help you negotiate and finalize an asset or share purchase agreement and work with other professional advisors such as accountants to ensure your interests are covered and the business is properly conveyed.

Contact David Flynn for more information.

Family Questions

Many people write their own wills. ?It is important to make sure that it conforms to the applicable legal rules or you risk having an unenforceable document. ?There are certain formalities that must be observed. ?For example, the will must be signed and witnessed by two people who are not beneficiaries under the will (except in the case of a “holograph” will).

It is also important to review the wording of gifts and to consider contingencies. ?Estate tax planning should also be given consideration. ?While it may be legal to prepare your own will, it is recommended that you consult a lawyer.

Contact Ross Anderson?for more information.

Retirement does not necessarily justify a termination or even reduction in support. It will depend on the particular facts of the situation.

Read the article from?James Herbert?on this topic HERE and contact him for more information.

Litigation Questions

The litigation process is governed by a set of Rules imposed by the court. There are different types of court actions, each with variations in their process. ?A court claim begins with the preparation, service and filing of a Statement of Claim by the Plaintiff. ?The Defendant is then afforded the opportunity to prepare, serve and file a Statement of Defence. ?Following that there will be an evidentiary discovery process and there may be mediation, negotiation, offers to settle and other dispute resolution mechanisms. ?This all leads to the hearing (the trial) before a judge, who will render a judgement in the case.

All these steps have particular formats and timelines and can take months or years to reach final resolution. ?Our lawyers, however, are skilled in tactically seeking timely resolution in an efficient manner.

Contact James Herbert or Steven Bellissimo?for more information.

Real Estate Questions

In a word, yes! The land registration system in Ontario requires a lawyer to register any new Transfer/Deed. Additionally, the Law Society of Upper Canada requires that each of the Buyer and the Seller be independently represented by their own lawyer (except in certain circumstances). Aside from just these formalities, a lawyer will give you advice on what provisions should or should not be included in your Agreement of Purchase and Sale. After the agreement is signed, your lawyer will do land searches, prepare closing documents and ensure you get what you bargained for in the agreement.

Contact David Flynn for more information.

In addition to making your down payment on a new home, you can expect other closing costs. ?Among these costs are legal fees to complete the transaction, certain out-of-pocket costs (for land searches, off-title searches, couriers, banking fees, etc.), registration fees to register the Transfer/Deed (and mortgage, if applicable), title insurance premiums, Land Transfer Tax and HST.

Contact David Flynn to discuss your particular circumstances.

Your rights and responsibilities are largely set out in the Condominium Act and in the condominium corporation’s declaration, by-laws and rules. ?For purchasers, there are also rights built in to consumer protection laws.

Before buying a condo unit, there are a number of things that you may consider, including:

  • The condominium community (people, rules, amenities. etc.);
  • The monthly common expenses for the unit(s) and the financial viability of the condo;
  • Condominium governance; and
  • Personal and corporation responsibilities.

Before buying a condo unit still under development, there are additional considerations including:

  • Your rights under the Agreement of Purchase and Sale and the Tarion warranty with regard to deposits, material changes and termination of the agreement;
  • The timing and stages of closing (interim closing and final closing, including permitted extensions); and
  • Obligations for occupancy of the unit.