Understanding Deed Transfer Tax When Purchasing Property in Nova Scotia

Understanding Deed Transfer Tax When Purchasing Property in Nova Scotia

If you considering buying a property in Nova Scotia it's crucial to understand the various costs involved, including the deed transfer tax. In Nova Scotia, this tax plays a significant role in the total cost of a real estate transaction .

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Nova Scotia home for sale over the holidays? Decorating tips to not detract from the sale.

Nova Scotia home for sale over the holidays? Decorating tips to not detract from the sale.

If you are buying a home for the first time you may qualify for First Time Home Buyers' rebate.

A "first time buyer" is an individual who builds or purchases a newly built home and has not owned or occupied a home in Canada in the last five years.

The eligibility criteria for this rebate:

  • · The house is newly built. Substantial renovations such as a major addition or converting a building into a home do not qualify.

  • · The house is located in Nova Scotia and will be used for your (or your relation's) primary residence.

  • · Can only be claimed by individuals - not businesses.

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How to Make an Adverse Possession Claim in Nova Scotia

How to Make an Adverse Possession Claim in Nova Scotia

When you make an Adverse Possession Claim that means you are saying that you believe you should now be the legal owner of a particular piece of land, replacing the person whose name is currently on the deed. The first step is determining whether you meet all the requirements. In general, you must have possessed the land for a period of 20 years in a manner that is open, continuous, notorious, adverse, and exclusive. For more details on this criteria read our blog “Squatters Rights and Adverse Possession”. If you believe you meet all theses criteria then you are in a position to make a claim

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Date of Separation – What does it mean for Nova Scotia couples?

Date of Separation – What does it mean for Nova Scotia couples?

In most cases, people can agree on the date of separation. When my clients ask me how to decide when they were separated I ask them when they stopped acting like a married couple. There is no one thing that marks a separation definitively (although one person moving out is usually a pretty good indication).

 

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Prevent Heartache By Having a Lawyer Review Your Nova Scotia Commercial Lease – The Rent Increase Control Clause

Prevent Heartache By Having a Lawyer Review Your Nova Scotia Commercial Lease – The Rent Increase Control Clause

I recently came across a story in the news highlighting the unfortunately common situation where a small business owner is facing financial disaster as a result of terms in their commercial lease they didn’t fully understand when they signed.  Cash flow challenges are reality for most small business, particularly those in the start up phase.  As a result, many view spending money to have a lawyer review what appears to be a standard lease is a luxury they can’t afford.

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Thinking of buying a home in Nova Scotia ? : First step - determine your budget.

Thinking of buying a home in Nova Scotia ? : First step - determine your budget.

Buying a new home can be a very exciting prospect, however, there are also a lot of practical realities that go along with buying and owning a home. The first thing you should do before looking at any homes is determine your budget.

This means sitting down with a mortgage professional before you start your search in order to determine what you can afford. It can be a heartbreaking experience looking at homes outside of your budget, not to mention it wastes your, and your realtor's time and resources that could be better spent looking for the right house for you.

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Inspection and the Final Walk-through for real estate purchases in Nova Scotia: Bring it up on or before closing day or forever hold your peace.

Inspection and the Final Walk-through for real estate purchases in Nova Scotia: Bring it up on or before closing day or forever hold your peace.

One major piece of the picture when buying your home is inspecting the property to decide A) what issues there are and B) how they will be addressed OR if you are willing to live with them.

Professional Inspection

One of the first steps after you have signed an agreement of purchase and sale is a home inspection. It is always a good idea to use a professional home inspector come in and do an inspection of the home you are considering buying. Their job is to flag any issues that may change your mind about purchasing the property, or the price you are willing to pay for it.  The inspection is the opportunity to raise issues that will need to be addressed. As a result there may be further negotiations with the seller to either take care of the issue prior to closing, or sell at a lower price so you will have the money to fix it. You should look for an inspector that has both liability AND errors and omissions insurance. This protects you not only from any damage they might cause while on the property to do the inspection, but also provides you with possible recourse if they miss something important on the inspection.

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How long does it take to get a Divorce in Nova Scotia?

How long does it take to get a Divorce in Nova Scotia?

Ask almost anyone who has been through it and they will say “too long!” Joking aside, it can feel like a long process, and the justice system is not exactly known for its speed, even at the best of times. The hardest part of a divorce is coming up with the terms of divorce, especially as it relates to custody, property division and support payments. This can be done through negotiation, or a judge can make the decision.  A negotiated settlement is almost always faster than waiting for the court to order the terms of your divorce. So, what exactly takes so long with court?

 

The hardest part of a divorce is coming up with the terms of divorce, especially as it relates to custody, property division and support payments. This can be done through negotiation, or a judge can make the decision.

 

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Thinking about buying a vacation home in Nova Scotia? What you should know first:

Thinking about buying a vacation home in Nova Scotia? What you should know first:

We are lucky to live in a place with a wealth of cottages and vacation homes. Many Nova Scotians are able to make the dream of having a cottage come true. This blog reviews some of the things to look out for to avoid your dream becoming a nightmare.

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Buying or Selling? Why you really DO need an agent.

Buying or Selling? Why you really DO need an agent.

Thinking of buying or selling your home? This is one of the largest transactions you will complete in your lifetime, it’s important to get it "right".  A real estate agent can help you do this. These are some of the reasons why:

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Need a new mortgage?: Understand the qualifying rules

Need a new mortgage?: Understand the qualifying rules

There are a several new rules coming into effect on January 1st 2018 that will affect Canadians' ability to get a mortgage, and for what amount. These rules are not limited to people looking to purchase a home with a mortgage, but also apply to those looking to refinance a home. 

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What is a "migration" and why do you care?

What is a "migration" and why do you care?

Many people may have heard the term "migration" with respect to property but have no idea what that means. That’s fair, a lot of people don’t. This blog will give a Coles notes overview of what it is and why it matters to you as a home owner or potential purchaser.

 

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