Experienced Real Estate Lawyer in Toronto

Real estate can be a tricky legal area, especially if you have a complicated sale or issues with the property. If you want to ensure that your Toronto real estate transactions go smoothly, then hire a real estate lawyer from Eran Gevantschniter Real Estate Lawyer.

You might think you can handle all your real estate transactions yourself. However, a real estate lawyer can be helpful if:

• You don’t have much experience with real estate
• You want an experienced pair of eyes to look over all paperwork
• You want to work out any issues with the property or title
• You want to make sure all legal proceedings are valid and binding

Whether you’re a buyer, seller, or refinancer, a real estate lawyer can be your best ally.

In the process of finalizing a residential real estate transaction in Toronto, there is a requirement to sign numerous documents, which encompass, but are not restricted to:

• Acknowledgment and Direction Transfer / Title Deed
• Acknowledgment and Direction Charge / Mortgage
• Acknowledgment and Direction Other Document
• Purchasers closing documents
• Sellers closing documents
• Title Insurance Owner Policy
• Title Insurance Lender Policy
• Applicable Declarations
• Warranty / Bill of Sale / HST
• Tax Certificates
• HST Rebates
• Acknowledgement of Reports
• Mortgages
• Various Directions
• Assisting in drafting clauses for amending an Agreement of Purchase and Sale
• Survivorship Application
• And many more

Eran Gevantschniter, a Toronto-based real estate lawyer, is adept at evaluating, creating, and elucidating all essential documents pertaining to your closing process. His experience ensures a seamless transaction and outstanding outcomes, both within Toronto and the Greater Toronto Area (GTA).

A residential real estate closing encompasses a multitude of individuals, including:

• The purchaser
• The seller
• Their respective legal representatives
• Real estate agents
• Mortgage brokers
• Home inspectors
• Bankers
• Landlords
• Tenants
• Lawyers
• Lenders
• Appraisers
• Condominium management companies
• Land Registry Office personnel
• Government bodies, including the Ministry of Finance
• And various other stakeholders

Effectively managing coordination among these diverse parties can be challenging. It’s imperative that your Toronto-based real estate lawyer possesses the capability to communicate seamlessly with these professionals, ensuring a swift and seamless closing process.

In Toronto, Ontario residential real estate transactions are fulfilled by exchanging closing documents and funds between the buyer’s lawyer and the seller’s lawyer. Once this exchange done successfully then registration of the transfer/deed and if required the mortgage follows. In general, upon completion of the registration of these documents then the seller’s lawyer can release the funds to his client and pay off the existing mortgage if required and the purchaser’s lawyer can advise the buyer on the keys arrangement. There are other duties and obligations that both lawyers needs to perform on closing as it depends on the nature of the transaction but for simplicity in general this is the process on a residential resales transactions.

We provide services in Real Estate Transactions with over fifteen years of experience. Our services range from:

• Refinancing Your Home
• Selling Your Home
• Buying Your Home
• Title Insurance
• Buying A Commercial Property
• Assignments For The Assignee And Assignor
• Selling Your Commercial Property
• Private Mortgages
• Buying A New Property
• Buying Parking Units
• Buying Locker Units
• And Any Other Related Matter Concerning Real Estate Law

We also provide services in other Fields of Law ranging from Commercial Corporate Law, Estate Law, Civil Litigation, and Notarization of Documents. For detailed description of our services please visit our practice area description page.

We located in downtown Toronto at the Eaton Centre and servicing clients all over the GTA and Ontario. We aid overseas clients with exceptional results. We would welcome the opportunity to meet with you and discuss any legal issue that you may have. Appointments can be made to suit your convenience at different locations.

With more than 15 years of experience the Law Office of Eran Gevantschniter is a one-stop shop for all of your legal needs. From general practice and real estate, we have you covered. We represent a wide variety of clients, from individuals to corporations. Approaching each case with our full attention and dedication, we aim to protect your interests and exceed your expectations. real estate lawyer in Toronto. Real Estate Attorney.

In recent years, title insurance has become increasingly popular tool. It also may save the purchaser money on its overall legal bill, since certain redundant searches may be waived by the title insurer. Title insurance is an insurance policy that protects residential or commercial property owners and their lenders against losses related to the property’s title or ownership.  It cover various issues like:

• Unknown title defects (title issues that prevent you from having clear ownership of the property);
• Existing liens against the property’s title (e.g. the previous owner had unpaid debts from utilities, mortgages, property taxes or condominium charges secured against the property);
• Encroachment issues (e.g. a structure on your property needs to be removed because it is on your neighbour’s property);
• Title fraud;
• Errors in surveys and public records; and more

It is best to speak to speak to our office  and discuss the coverage that the various title insurance companies can provide for your real estate transaction.

Effective January 1, 2017, the tax rates for land transfer tax will depend on the date of the agreement of purchase and sale.

If an agreement of purchase and sale is entered into after November 14, 2016, and registration or the disposition occurs on or after January 1, 2017, the tax rates on the value of the consideration are as follows:

• amounts up to and including $55,000: 0.5%
• amounts exceeding $55,000, up to and including $250,000: 1.0%
• amounts exceeding $250,000, up to and including $400,000: 1.5%
• amounts exceeding $400,000: 2.0%
• amounts exceeding $2,000,000, where the land contains one or two single family residences: 2.5%

The province of Ontario will offer rebate for legible first-time home buyers.

Effective September 6, 2023, the City changed the MLTT rate structure and rebate eligibility criteria.

For property containing at least one, and not more than two, single family residences with a consideration value of:

Value of Consideration MLTT Rate

• Up to and including $55,000.00: 0.5%
• $55,000.01 to $250,000.00: 1.0%
• $250,000.01 to $400,000.00: 1.5%
• $400,000.01 to $2,000,000.00: 2.0%
• Over $2,000,000.00: 2.5%

Additional thresholds and rates effective as of January 1, 2024

• Over $3,000,000 and up to $4,000,000: 3.5%
• Over $4,000,000 and up to $5,000,000: 4.5%
• Over $5,000,000 and up to $10,000,000: 5.5%
• Over $10,000,000 and up to $20,000,000: 6.5%
• Over $20,000,000: 7.5%

Continuing for all other non-single family residences with a consideration value of:

• Up to and including $55,000.00: 0.5%
• $55,000.01 to $250,000.00: 1.0%
• $250,000.01 to $400,000.00: 1.5%
• Over $400,000.00: 2.0%

MLTT Administration Fee – An administration fee for processing each MLTT transaction excluding HST (HST is payable on the transaction fee). $86.78 + HST

First time home-buyers may be legible for a refund of all or part of the tax for their real estate transaction both in Ontario and in the City of Toronto subject to qualification. The maximum amount that of the refund is $4,000.00 for Ontario and $4,475.00 for the City of Toronto. If the refund is claimed at the time of registration, it may offset the land transfer tax ordinarily payable. If not claimed at registration, the refund may be claimed later on but subject to strict time line. To see if you qualify or to discuss this matter in more detail speak to our office.