Quick Highlights: In relation to a variable rate mortgage, a “fixed payment” means that the borrower’s payment amount never changes, regardless of changes to (Prime and variable) interest rates. Trigger Point is the threshold that is reached when the Prime Rate has increased to a rate where the borrower’s entire fixed payment no longer covers the […]
Mortgage Trigger Point Read More »
This article will help you establish a basic understanding of the fundamentals of mortgages, including terminology, types of loan products and registration/ legal set-up processes. Mortgage Terminology Before delving too deeply into explanations, it is first helpful to review some common terms associated with mortgages and borrowing money. Borrower or Mortgagor: entity that borrows money. Lender
Mortgages and HELOCS and STEPS– Oh My! Read More »
As a Notary, real estate is a BIG part of my job. But, oftentimes my phone rings, I answer, and on the other end of the line is an excited and slightly nervous voice confessing: “This is my first time buying and… I guess I need you for something?” Most Realtors and Mortgage Brokers advise
A Notary’s Role in your Real Estate Transactions Read More »
With a new year comes….. a number of new rules affecting the real estate market in 2023! Here’s what you need to know: Buyer’s Rescission Right New amendments to the provincial Property Law Act (s. 42(1)) and associated Home Buyer Rescission Period Regulations came into effect in January 2023. The purposes of the regulations are
New Year, New Rules: What’s New in Real Estate for 2023? Read More »
Ever heard the phrase, “cheap advice is the most expensive kind”? This rarely rings truer than when examined through the context of legal services – particularly estate planning and Wills. There are many important reasons to have a Will but people who have never sought assistance from a legal professional may sometimes wonder: “Can I make
A Notary’s Role in Estate & Personal Planning Read More »
1) Exercise choice and make your wishes known If you die without a Will, the Wills, Estates and Succession Act (WESA) governs how your estate will be divided. Don’t let legislation dictate your legacy. Ensure that those who are important to you are provided for in you Will. 2) Grant authority Appoint an executor (and
You know that a Will is important, but you keep putting it off, seeing it sit unchecked on your “To-Do” list month after month. You’re not alone. One of the top things we hear from our clients is that they’ve been meaning to attend to their Will, but have felt overwhelmed and unsure where to
The Dreaded Estate Plan – How to Start (and Finish) Your Will in 5 Easy Steps Read More »
Estate and personal planning is the process of setting up legal instructions for your incapacity, health care directive and death… before any of these circumstances happen to you. Planning is achieved through three key legal documents: Will, Power of Attorney and Representation Agreement. Last Will & Testament (Will) Your estate is comprised of the assets that
Estate and Personal Planning: An Overview Read More »
When you purchase a property alone, it’s clear what your responsibilities are because you own 100% of the property. But what happens if you purchase a property with someone else? How can you define and characterize the nature of your ownership of the property? Deliberate and strategic registration of legal ownership of property is a
Joints Tenants vs. Tenants in Common: Ownership Considerations for 2+ Property Owners Read More »
Why is identification important? In this age of digitization, security breaches and hackers, it’s more important than ever to have valid and consistent identification. When partaking in a legal transaction, the first requirement of your legal practitioner (BC Notary or lawyer) will most certainly be to ascertain your identity. Afterall, no one wants their house
What’s in a Name? The importance of consistent, valid identification. Read More »