Condominiums: What is a reserve fund, and why should you care?

Condominiums: What is a reserve fund, and why should you care?

When you buy a condominium one of the things that you (or usually your representatives) look into is whether or not the condo corporation has a healthy reserve fund.

When you buy a condo unit, the vendor has to order what is referred to as an "estoppel certificate". This will outline the status of the fees for your specific unit, but it will also give you details about the reserve fund of the corporation.

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Nova Scotia’s “Statute of Limitations” – the time limit for filing a claim in court

Nova Scotia’s “Statute of Limitations” – the time limit for filing a claim in court

Did you know there were time limits to file a claim in court? Well, there is! Depending on the type of claim you have, the amount of time you have to file can vary substantially. This period of time is called a “limitation period”. In Nova Scotia, the limitation period is determined by the type of legislation that your claim falls under. If the legislation does not set out a time period, then the Limitations of Actions Act will outline the time limits to follow.

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Are "Executor Fees" allowed in Nova Scotia under the Probate Act?

Are "Executor Fees" allowed in Nova Scotia under the Probate Act?

Probate is the process by which a “Personal Representative” is formally appointed to have the authority to administer the estate of a deceased. The person appointed Personal Representative assumes the duty of gathering information about all of the assets of the deceased, (such as bank accounts, investments and property) paying the debts of the deceased out of the assets of the estate, and then and distributing the remainder of the assets among the rightful heirs, who are known as beneficiaries .

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Understanding Damages in Personal Injury Cases in Nova Scotia

Understanding Damages in Personal Injury Cases in Nova Scotia

‘Damages’ is a term used to describe the monetary compensation awarded to victims of successful Personal Injury claims. They are calculated and granted by the court following the case. The Damages are an effort to reimburse the victim, as best as possible, for any losses suffered as a result of their injury. These losses could be economic, such as their ability to work for a period of time, or non-economic such as physical injuries. In conducting their calculations of the amount and types of Damages to award, the court asks itself what amount can help to put the victim in the same position they would have been had the injury not occurred.

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What does Perfecting a Builders Lien Mean?

What does Perfecting a Builders Lien Mean?

In Nova Scotia, a builder’s lien that is registered against a property only stays valid for 105 days past the last day of work done on the property unless the lien is “perfected”. “Perfection” in the context of a builder’s lien means that the person who holds the lien formalizes their claim by starting a lawsuit in the Supreme Court of Nova Scotia. If no lawsuit is started within the required time, the lien becomes completely invalid.

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Selling & Showing Your Home With Pets

Selling & Showing Your Home With Pets

Keeping you home in tip top shape in order to show it can be a task. Particularly when you have pets in your home, but it can make a bad impression if you don't. Here are some things you should think about when your selling with pets:

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Buying a Condo in Nova Scotia? Here's why you need an estoppel certificate.

Buying a Condo in Nova Scotia? Here's why you need an estoppel certificate.

When you are buying a home in Nova Scotia there are a lot of moving parts to the process. When you are buying a condominium, often you can count on adding a few more. One of the requirements specific to purchasing a condo unit is getting your hands on the estoppel certificate. It’s important to understand why you need one.

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What Do Happens at my Nova Scotia Corporation's Annual General Meeting

What Do Happens at my Nova Scotia Corporation's Annual General Meeting

Incorporation is only the beginning of the process, corporations in truth require continuous attention. One important order of business a corporation is required to conduct is an Annual General Meeting or an “AGM”. A corporations governing legislation will set out the time frame within which an AGM is required to be held. According to both the Canada Business Corporations Act and the Nova Scotia Companies Act, an AGM is mandated to take place at minimum once a year

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Prevent Heartache By Having a Lawyer Review Your Commercial Lease Part II – Leasehold Improvements

Prevent Heartache By Having a Lawyer Review Your Commercial Lease Part II – Leasehold Improvements

Leasehold improvements include anything that needs to be done to the space that you are going to lease in order to make it fit for your purposes. Your lease should outline who is responsible for making the changes, who is paying for the changes, and what the timeline is for getting it done. It should also make clear who is the decision maker with respect to the leasehold improvements. For example, if new flooring is to be laid do you get to decide the specific type or does the landlord.

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So What is Incorporation Anyway?

So What is Incorporation Anyway?

The topic comes up all the time. Are you incorporated? Are you going to incorporate? When is the right time to incorporate? But a large number of small business owners don’t know what incorporation actually means, or why they should or shouldn’t incorporate.

 

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Who gets it when your gone? Dealing with your home when you pass away.

Who gets it when your gone? Dealing with your home when you pass away.

While it may seem like a morbid topic of conversation, it is an important one to have. What happens to your home when you die? In Nova Scotia, typically, when the first spouse to passes away, the home simply stays with their surviving spouse. This happens because most spouses hold their homes as "joint tenants".  This is only applicable in situations where both spouses are on title to the home, and listed as joint tenants. This designation is listed on the parcel register for your property and you can have a lawyer find this information for you if you are unsure of your current situation.

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Getting Ready to Move? Here are some dos and don'ts of having a Yard Sale.

Getting Ready to Move? Here are some dos and don'ts of having a Yard Sale.

A yard sale can be a great way to declutter and reduce the amount of stuff you have to move when you move out of your home. It is also a great way to make a little extra cash in the process. Here are some tips for making the most of your yard sale in Nova Scotia.

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How to Defend A Small Claims Court Action

How to Defend A Small Claims Court Action

To start a small claims court action a claimant has to file paperwork at the court. The next required step is to serve the documents on the defendant. This means they either have to pass the documents to the defendant themselves or hire or arrange for someone else to do so. If you are never personally served with documents than it’s a safe bet there is no lawsuit against you.

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Can I Represent Myself In Small Claims Court in Nova Scotia?

Can I Represent Myself In Small Claims Court in Nova Scotia?

The short answer is yes, you can represent yourself in Nova Scotia Small Claims Court. In fact, in Canada you can represent yourself all the way up to the Supreme Court of Canada. However, the limit for small claims court in Nova Scotia is $25,000 so if the claim you’re involved in is approaching that amount it may be well worth your money to use the expertise of a lawyer to represent you.

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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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