Dower Rights are rights given to a married person in the couple’s “homestead” when only one spouse is named on title. Dower Rights arise when either spouse has resided on the property at any time during the marriage. Dower Rights are intended to ensure that that the spouse on title does not dispose of the […]
Closings for real estate transactions following floods
As Alberta’s online Land Titles system (SPIN II) is running, closings can be completed as scheduled for both residential and commercial real estate transactions. In certain instances, title insurance may be needed to faciliate a timely closing. This, of course, does not apply to properties which are not accessible or which have been damaged or […]
Do I need my own insurance policy if I own a condominium unit?
In Alberta, every condominium corporation is required to take out and maintain insurance on the common property and the individual units against perils such as fire, hail and flood. This insurance typically covers the common property and the structural elements of the units. The unit owners share in the premiums for the condominium corporation’s insurance […]
What is the effect of a CMHC or GE insured (“High-Ratio”) Mortgage?
In Canada, a home buyer or home owner obtaining a mortgage loan where the principal amount of the mortgage is greater than 80% of the value of the property will be required to obtain default insurance for the lender. This default insurance is typically provided by the Canada Mortgage and Housing Corporation (“CMHC”) or Genworth […]
The Priciest Home on the Market in Toronto
How long until we see something like this in Calgary? CLICK HERE to watch the video. KH/Dunkley Law Group […]
