The Risks of Buying A Home With An Unconditional Offer
In a seller’s market, there is keen competition for homes in many price brackets. Buyers are anxious and worried about losing a bidding war on a seemingly perfect property. Furthermore, the heated market may cause buyers to feel pressured to make an unconditional offer. No inspection. No financing condition. No condition to sell the buyer’s current home…and there are others that could be included. In the absence of any conditions, some buyers even include a large deposit to indicate to the seller that they are serious. Unfortunately, many things can and do go wrong in the...
Read MoreNo Will?…Then What is Your Spouse Entitled To?
I have recently been concerned by the number of people that assume that their spouse will receive their entire estate should they die without a will (also called dying “intestate”). However, as we will briefly explore here, that will not necessarily be the outcome. Ontario legislation dictates that the surviving spouse of a person who dies without a will is entitled to a “preferential share” of the deceased’s estate. Currently, the preferential share is $200,000. It is calculated only on the assets in the deceased’s name alone and excludes any jointly owned assets...
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Andrea P. Kelly is a legal practitioner and notary public, called to the Ontario Bar in 2001, with practice focus in Estate Planning and Administration, including wills, estates, trusts and powers of attorney. She also practices Real Estate.
Prior to opening her law firm, she worked in various capacities including litigation support lawyer for the Ministry of Attorney General regarding complex commercial litigation, private practice in corporate/commercial law and numerous legal research and writing positions.