Posted in Real Estate Litigation

In general if you have a claim against someone for payment you don't have an unlimited period of time in which to commence a legal proceeding to collect that payment. The Ontario Limitations Act requires that you shall not commence a proceeding to recover that money after the second anniversary of the day on which the claim was discovered. Claim A claim means a claim to remedy an injury,...

A real estate deal may not close for any number of reasons. Generally, if the seller is at fault, the buyer will be entitled to the return of their deposit and Mutual Releases will be exchanged. However, in this current climate of rising interest rates, it is more common for a purchaser to not be ready or willing to complete the transaction. Deposit Forfeited Normally in this situation, the...