Ontario real estate lawyers
ontario real estate lawyers are one of the most significant investments you will make in your life. You can trust Aura LLP as your Ontario real estate lawyers to help you achieve your dreams.
There is a specific cadence to real estate law that requires patience, diligence and understanding. We also know how this process can be stressful for our clients. Therefore, we strive to make this experience as seamless and stress-free as possible – handling everything for you and moving you closer to your dreams.
Our lawyers are experts in the complex procedures of closing the purchase and sale of commercial and residential properties, including condominiums and private lender transactions.
In each of our closings, we will:
- review and fulfil all mortgage instructions from any bank or trust company
- conduct relevant title searches
- draft and prepare all closing documents.
Residential Purchase and Sale
In a residential transaction, we will act as your shield against any mistakes that might affect you in the future.
- assist you in exploring different options, whether through conventional lenders or private mortgages. Our lawyers will present you with options for the best ways to get loans or financing
- help you decide whether to purchase title insurance for the transaction
- Review and fulfil all mortgage instructions from any bank or trust company
- Double-check that all terms and conditions are fulfilled, and ensure that there are no hidden contractual terms
- Conduct relevant title searches on your behalf
- Draft all closing documents
- Remain with you until you put pen to paper, and the transaction closes.
Real Estate Co-Ownership
We are Ontario’s leading firm in the co-ownership of residential real estate. We understand the intricacies of co-buying or co-selling a property. Whether purchasing a property with family members or with new friends, essential elements need to factor in the transaction structure, including reserve fund allocation, manner of holding title, spousal rights, maintenance of the property, property division upon exiting the arrangement, and the rules and regulations of the property.
Co-owning a home or commercial property with multiple people can be a rewarding proposition. But, it is crucial to get the details right when several people are involved. In the vast majority of co-ownership deals, it is necessary to address the rights and responsibilities of co-owners through a Co-ownership Agreement. In other cases, a clear and concise explanation of the legal implications of buying or selling property with others may be all that is needed – the context of your particular situation is often the deciding factor.
Aside from the legal aspects of the agreement, we appreciate that we are all different types of people. There are always personalities, approaches, and expectations to navigate, which affect the relationships during the deal. By bringing our wealth of knowledge in corporate law, real estate, estates and co-ownership to the table, you can feel comfortable moving forward with your transaction.
We can assist with:
- Drafting a Co-Ownership Agreement
- Reviewing and amending existing Co-Ownership Agreements
- Laneway Housing Financing, Conveyance, Construction and Design
- Limiting Distance Agreements
- Registering the deed to a property owned by multiple parties
- Co-ownership financing and mortgage charges & discharges
- Reviewing Agreements of Purchase and Sale involving multiple sellers and buyers
- Selling a share of your Co-Owned Property
- Buying a share in a Co-Owned Property
- Drafting Declarations and Rules and Regulations for Co-Owned Properties
Whether buying or selling a condominium, we can provide you with the knowledge to help you understand your rights.
In addition, we also represent condominium developers and offer specialty real estate services for those involved in condominium development and condominium management.
We can assist you with:
- Review and drafting of Agreements of Purchase and Sale
- Review and drafting of status certificate or condominium declaration
- Legal advice for construction and development financing (equity capital, mortgage, syndication)
- Site plan approval and zoning applications
- Condominium Authority Tribunal (CAT) applications and litigation
- Management, negotiation and mediation of condominium board issues
- Drafting of condominium bylaws.
Commercial Real Estate Purchase and Sale
In a commercial transaction, we will ensure that the transaction closes smoothly, and your investment is set up in the right way from the beginning. Commercial deals are inherently complex, often involving multiple people with varying tax, family and business arrangements. We help our commercial clients:
- create holding & operating companies;
- structure partnership, shareholder agreements and trusts;
- advise on family law matters relating to the transaction; and,
- arrange financing and underwriting options.
Private Lending & Mortgages
In Canada, private lender financing is now one of the most preferred options for business owners, entrepreneurs, and real estate purchasers seeking financing solutions.
In some circumstances, a conventional mortgage may not suit your requirements, and you may need a mortgage option customized for you and your circumstances. Private financing may be helpful for:
- Financing studios or micro-condos that are 600 sq ft or less
- Investors who are foreign nationals
- Non-residents of Canada
- Purchasers of real estate who are credit challenged
- Persons with outstanding arrears payable to CRA
- Persons with outstanding property tax payable
- People undergoing foreclosure
- Persons needing construction financing and commercial loans
- Persons needing open short-term financing with no penalties
Many persons prefer private mortgages over other forms of credit due to specific reasons such as lack of credit history, or if they are credit challenged, retired or self-employed. In some cases, private lending is beneficial when purchasing high-risk properties; in other cases, a purchaser or seller may need a bridge loan when engaging in multiple transactions.
Our extensive experience in business and real estate allows us to navigate the plethora of documents and issues required to manage the initial due diligence process and manage and complete all third-party and interested-party obligations to complete a secured lending transaction. We can assist with:
- Operating/Revolving Lines of Credit
- Term Loans
- Multi-facility Loans
- Promissory Notes – simple and grid
- Private Institutional Mortgage Financing
- General Security Agreements
- Share Pledge Agreements
- Control Agreements
- Cash Collateral Agreements
- Subordination and Postponement Agreements
- Third-Party Consents/Waivers/Releases/Estoppels
- PPSA Registrations
- Associated Corporate Consents, Waivers, Releases, Certificates and Resolutions
Whether you are an institutional lender or a private lender or a corporate or individual borrower or guarantor, we can help.