The majority of home buyers are not afforded the luxury of paying for a home without obtaining a loan from one of the many available lenders. As a result, it is usually a requirement that the buyer arrange a mortgage with their lender. A buyer of real property should be... Read More
Gemma Brown (continuing the long standing involvement of Bob Smith in the community), along with fellow Southeast Events Group board members, check out the ice after Friday’s opening – what an exciting day for this community culminating years of effort! Read More
When selling a home, sellers normally receive an offer to purchase from a purchaser which sets out the terms of the agreement between the buyer and seller. The offer to purchase creates a binding agreement between the parties and therefore, if you have any questions about it, you should consult... Read More
An offer to purchase is the form used to create the agreement between the buyer and seller. Once the offer to purchase is signed, the agreement between the parties is established, and your lawyer will be limited by the agreement with regard to their ability to assist you. Therefore, prior... Read More
Rent Guidelines The rent increase guideline is the amount by which landlords can increase the rent of units without applying to the Residential Tenancies Board. The Manitoba Government will increase the rent guideline by 1.7% starting January 1, 2025. This means that rent cannot be raised more than 1.7% in... Read More
Fees Lawyers fees with respect to the sale of a typical home are usually less than half a percent of the sale price, and sometimes less than a quarter of a percent of the sale price. At Smith Neufeld Jodoin LLP, our lawyers typically adhere to general policies regarding fees... Read More
The First Time Home Buyers’ Tax Credit (HBTC) was implemented in the 2009 Federal budget. As of 2022, HBTC allows for first time home buyers to save up to $1,500 in federal tax relief. That amount comes from a non-refundable tax credit based on an amount of $10,000. The credit... Read More
In addition to the First Time Home Buyers’ Tax Credit, first time home buyers are also eligible for the Home Buyers’ Plan (“HBP”). This is a program that allows you to withdraw up to $60,000 from your registered retirement savings plan (RRSP) to buy or build a qualifying home for... Read More
Cottages are similar to family farms. Their succession plans should be similar too. Cottage succession planners should take a lesson from farm experts. Cottages, like farms, make succession planning challenging. Succession planning for the family cottage has many similarities to transferring the family farm. The primary goals of most cottage... Read More
It will be a requirement of most Offers to Purchase that the seller transfers to the buyer title to the land, clear of all registered encumbrances, mortgages, liens, etc., with a few exceptions. As a result, your lawyer will conduct a search of the title upon opening their file to... Read More