In today’s housing market, it is increasingly common for parents to help their children financially when buying a home. Although the parent’s intention—whether the funds are meant as a gift or a loan—may be clear at the outset, circumstances such as death or changing family relationships can create uncertainty over time. This is why proper […]
In real estate transactions, parties rely on the information provided by one another to form a clear understanding of the deal. Mutual trust and honest communication are essential for meaningful engagement among all involved. The act of misrepresentation, whether through a false statement or the omission of a material fact, undermines that trust. Misrepresentation can […]
In real estate transactions, buyers rely on information provided by the sellers and their realtors to make informed decisions. Practices like phantom bidding, where false or non-existent offers are alluded to in order to create a sense of competition, undermine that trust. This deceptive tactic misrepresents the actual interest in a property, manipulating buyers into […]
What is the Home Flipping Tax and how does it affect you? As of January 1, 2025, British Columbia’s Residential Property (Short-Term Holding) Profit Tax Act, commonly known as the Home Flipping Tax, came into effect. The tax targets speculative real estate activity by taxing profits from the sale of residential properties held for less than 730 […]
Understanding Estate Obligations for Committees in B.C. Incapacity Cases When someone becomes incapable of managing their own affairs, a court in British Columbia may appoint a committee under the Patients Property Act, RSBC 1996, c 349. This fiduciary role is often misunderstood — particularly when it is compared to the duties of executors or trustees […]
Many professionals are choosing to structure their services through a corporation, often working as independent contractors rather than direct employees. This approach can offer significant tax benefits that surpass the limited options available to employees. However, before jumping into incorporation, it’s crucial to understand the potential tax consequences, especially if you’re providing services to an […]
What is Unjust Enrichment? Unjust enrichment occurs when a party confers a benefit upon another party without receiving the proper restitution required by law. Unjust enrichment is a strict liability and faultless claim, meaning the plaintiff will only get back exactly what was transferred. The principle aims to reverse an unjustified transfer and restore the […]
Divorce is a challenging experience at any stage of life, but for those over 50, it brings unique complexities. “Grey divorce,” a term describing couples aged 50 and older ending their marriages, has become more common in Canada. This blog explores the reasons behind this trend, the specific challenges faced by individuals going through a […]
Does Litigation Privilege Apply to Communications Amongst the Board of Directors? Litigation privilege prevents a party to litigation from having to disclose documents that were made in anticipation of or for the purpose of litigation. Litigation privilege ensures the efficacy of Canada’s adversarial process by giving parties a “zone of privacy” to conduct investigations and […]
How the Home Buyer Rescission Period Protects You in BC Real Estate Transactions Buying a home is a significant financial commitment, and sometimes, decisions made in the heat of the moment can lead to buyer’s remorse. Recognizing this, British Columbia has implemented a Home Buyer Rescission Period (“HBRP”) to offer buyers a safety net. Here’s […]