Types of Partnerships A partnership is a business arrangement between two or more people who do business together for profit (section 2, Partnerships Act, R.S.O. 1990, c. P.5). Notably, a partnership is not a separate legal entity from its partners. Certain...
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Forced Sales of Property Under the Partition Act
A lot of people own land. It might be a place to live, a location to invest, or both. Land can also be held by many people. Land can be co-owned in one of two ways: as joint tenants or tenants in common. Each joint tenant owns 100 percent of the land in undivided...
How Escalation Clauses Function in Agreements of Purchase and Sale
Prospective buyers and their realtors are frequently disappointed in today's competitive real estate market when their offer is not accepted by sellers. Too frequently, buyers and their agents are left wondering how close their offer was to the winning bid and whether...
LAND TRANSFER TAX IN ESTATE TRANSFERS
What is Land Transfer Tax (LTT) and Who Pays LTT? Land Transfer Tax (LTT) is a tax payable to the government upon the closing of a transaction for the purchase of either land or an interest in land.[1] Who Pays LTT? In Canada, every province except Alberta and...
Blockchain and Cryptocurrency Taxation in Canada
Government Attitude and Definition The federal government of Canada is experimenting with blockchain technology in many sectors. The National Research Council is testing blockchain to disseminate real-time research award and financing information.[i] The Canada Border...
The Assignment of Commercial Contracts in Legal Practice
Contracts are a prime example of intangible property. Parties to commercial contracts, like other property owners, frequently want to transfer their property to a third party. The transfer of a contract refers to the assignment of some or all of a party's rights or...
The Legal Implications of Cryptocurrency and Blockchain Technology in Canada
What is Cryptocurrency? Cryptocurrency is a type of digital asset that employs blockchain technology to record transactions and control the issue and transfer of the cryptocurrency in a decentralized way, and thus, preventing fraudulent transactions. Bitcoin, which...
Intentional Interference In Contractual Relations Vs. Economic Relations
If a third party interfered with your ability to conduct business, you may have a cause of action against the third party under the tort of intentional interference in contractual relations, or the tort of intentional interference in economic relations. While both the...
The New Residential Rental Property Rebate
The New Residential Rental Property Rebate You are entitled for the new residential rental property rebate (NRRPR) if you bought a newly constructed home or condo as an investment property and have a tenant who has signed a lease for at least one year. Notably, when...
Foreign Entities Acting as Shareholders in Ontario
Foreign Entities Acting as Shareholders in Ontario In general, foreign entities enjoy much of the freedom that Canadians do in terms of investing in corporations as shareholders in Ontario. However, there are certain situations in which investors may be restricted or...
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