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Oct 10, 2024 · A property deed is essential for proving legitimate ownership and control of a piece of land or other property. Over 98% of property disputes in Canada get resolved more efficiently when a properly executed and registered deed is available. The deed serves as physical evidence of ownership, detailing the names of the grantor and grantee, and ...
Jun 14, 2023 · A Seller Property Information Statement (SPIS) is a document that sellers can voluntarily provide to potential buyers. The SPIS allows sellers to disclose known information about the property, including any material facts or latent defects. While the SPIS is not a legal requirement in all provinces, providing one can demonstrate the seller's ...
- What Are Property Rights?
- Origin and Development
- Evolution of Fairness
- Deeds and Land-Titles
- Changing Property Types
- Charter Rights
- Quebec
- Fraud Threat
The popular notion of property as something owned, encourages the idea of property rights as absolute. However, property in the legal sense is more accurately regarded as the combination of the legal rights of individuals with respect to objects, and the obligations owed them by others and guaranteed and protected by government. Property is either ...
Property law, for all of Canada's common law provinces, originated in England. The laws were established at various time — in Nova Scotia and (what later became) New Brunswick in 1758, Prince Edward Island in 1763, Upper Canada (Ontario) in 1792, Newfoundland in 1832, British Columbia in 1858 and the North-West (later the three Prairie provinces) i...
In the 19th century, the succession law of real property became the same as that for personal property. The rule of primogeniture — inheritance by the eldest son — gave way, where there was no will, to a sharing of land among the spouse and children in the same way that personal property could be shared. In 1910 Alberta and Saskatchewan, following ...
The property laws of the common-law provinces are generally similar, but one area in which the real property law does differ is in the system of recording the ownership of land. In the Atlantic provinces and in southern Ontario, there is a deed registration system and in the four western provinces and in northern Ontario there is a land titles or T...
Types of property reflect the economic and social aspects of society. Industrialization introduced new forms of property rights in factories and machines. The growth of joint-stock companies, the forerunners of modern corporations, created new property rights in the form of bonds and shares. Recently the nature of property rights has been transform...
Although the Canadian Charter of Rights and Freedomsdoes not expressly protect property rights, such rights are created and are therefore protected by both common law and by statute law — although both can be changed by legislation. Any constitutional guarantee should recognize that property is a social institution that must be constantly remolded....
In the widest sense, the law of property in Quebec comprises the principles regulating the ways in which all kinds of property may be disposed of and acquired — all the mechanisms and transactions by which property circulates. In a narrower sense, Quebec property law is concerned with defining what constitutes property. In fact, anything with a fin...
In recent years there has been an outbreak of mortgage title fraud in which criminals either forge or fraudulently convey or mortgage properties posing as the rightfully registered owner. This has been particularly serious in Ontario, where the provincial government was forced to make legislative changes to protect hundreds of innocent property own...
Jul 12, 2016 · Under the Income Tax Act, one of the requirements for a property to qualify as a taxpayer’s principal residence for a taxation year is that it must be “owned” by the taxpayer. In common law jurisdictions, two forms of property ownership are recognized – legal (title and right to enforce ownership) and beneficial (use and benefit irrespective of title).
Jul 11, 2023 · Familiarize yourself with the different types of property ownership, your rights and restrictions, property taxes, and the role of homeowners’ associations if applicable. Consult reputable sources and seek legal advice when needed to ensure you have a comprehensive understanding of property ownership laws in Canada.
Oct 19, 2020 · At the same time, British Columbia’s new beneficial ownership registry, the Land Owner Transparency Registry (the “Registry”), will come online. Beginning on November 30, 2020, anyone applying to register an interest in land will be required to make a concurrent disclosure filing under LOTA. Owners of existing registered interests in land ...
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This right to add to the Fee Simple Interest can trigger valuation concerns. A property cannot be divided in accordance with the types of property rights held for the property, for example: 75% – Fee Simple. 10% – Right of Way regarding a utility easement. 15% – Rights of the tenants occupying the building located on the property.
