Real Estate

Whether you are purchasing or selling a home or cottage or you are engaged in commercial real estate or complex land assemblies or development, MKC Law Office is able to provide you with the timely and cost effective counsel to complete your transaction and mitigate your risk.

Residential Real Estate

• Purchases and sales
• Mortgages and refinancing
• Mortgage enforcement
• Drawing leases for residential tenancies as well as farm leases
• Right of way disputes and cottage road disputes

Commercial Real Estate

• Drawing commercial leases
• Counsel with respect municipal compliance
• Reviewing zoning by-laws and associated uses

Real Estate Development

• Preparing plans of subdivision
• Condominium developments
• Counsel for not for profit housing corporations
• Assistance with site plan agreements
• Official Plan Amendments
• Re-zoning applications
  

The lawyers at MKC Law Office are familiar with the process, the application forms and the costs associated with:

• Re-zoning applications
• Severance applications, including the creation of building lots, rights-of-way or lot additions
• Minor variance applications
• Site Plan Agreements
  

Purchasers of real estate in Ontario are subject to a Provincial Land Transfer Tax. 

The amount of tax is a function of how expensive the real estate that your are purchasing is.

Ontario Land Transfer Tax

Ontario first-time homebuyer land transfer tax rebate

The Ontario land transfer tax rebate is equal to the full value of the land transfer tax up to a maximum of $2,000

Eligibility:

• The buyer must be older than 18 years
• The buyer must occupy the home within nine months of purchase
• The buyer cannot have owned a home anywhere in the world
• The buyer's spouse cannot have owned a home while being your spouse
• If you are purchasing a new home, it must be eligible for home warranty

Based on Ontario land transfer tax rates, the rebate will cover the fully taxed amount on houses up to $227,500. For houses over $227,500, homebuyers will receive the maximum $2,000 rebate. To obtain this refund, you need to apply within 18 months after the purchase of the home.

Toronto land transfer tax

If purchasing a home in Toronto, there is an additional municipal land transfer tax. Toronto's land transfer tax applies within the following boundaries: Steeles Avenue as the North border, Etobicoke as the West border, Scarborough as the East border, and Lake Ontario as the South border.

Toronto first-time homebuyer land transfer tax rebate

First-time homebuyers in Toronto of new and resale homes are eligible to receive a refund up to a maximum of $3,725.

Eligibility:

• The buyer must be older than 18 years
• The buyer must occupy the home within nine months of purchase
• The buyer cannot have owned a home anywhere in the world
• The buyer's spouse cannot have owned a home while being your spouse
• If you are purchasing a new home, it must be eligible for home warranty
• The Ontario land transfer tax rebate is equal to the full value of the land transfer tax up to a maximum of $2,000
  

References and Notes:

1. Ontario Ministry of Revenue
2. Ontario Ministry of Revenue
3. City of Toronto
4. Municipal Land Transfer Tax, City of Toronto