A title search is part of the due diligence process, where your lawyer examines the property’s ownership history and checks for any liens, mortgages, restrictions, easements, or defects in title that might impact your use or enjoyment of the land. This crucial step helps protect the buyer from future legal or financial complications.

Title insurance provides valuable protection for homeowners and lenders from losses tied to title defects, encroachments, title fraud, survey issues, and more. As one of the biggest investments you will ever make, title insurance is highly recommended and important to protect your home ownership. It is a simple and affordable, one-time purchase that can save you significant time and money if an issue ever arises.

Land Transfer Tax (LTT) is a one-time provincial tax paid by the buyer when ownership of real property is transferred. In Ontario the tax rate is marginal — different percentage rates apply to portions of the purchase price (like income tax brackets). In the City of Toronto an additional municipal LTT (MLTT) is charged on top of the provincial LTT. Certain buyers (e.g., first-time home buyers) may qualify for rebates; certain purchasers (e.g., foreign buyers) may face extra taxes.

The current Ontario marginal tax rates are:

• 0.5% on the portion up to and including $55,000 of the purchase price

• 1.0% on the portion between $55,000.01 to $250,000 of the purchase price

• 1.5% on the portion between $250,000.01 to $400,000 of the purchase price

• 2.0% on the portion between $400,000.01 to $2,000,000 of the purchase price

• 2.5% on the portion of the purchase price above $2,000,000.01

For example, if you purchase a property for $800,000, the LTT would be $12,475.00.

The First-Time Homebuyer Rebate in Ontario helps reduce the cost of purchasing your first home by offering a refund of up to $4,000 on the provincial land transfer tax (LTT). This program makes homeownership more affordable for eligible first-time buyers.

To qualify for the LTT refund:

• The purchaser must be a Canadian Citizen or Permanent Resident.

• The purchaser must be at least 18 years old.

• The purchaser must occupy the home as their principal residence within 9 months of the closing date.

• The purchaser cannot have ever owned an eligible home, or an interest in an eligible home, anywhere in the world, at any time.

• If the purchaser has a spouse, the spouse cannot have owned an eligible home, or had any ownership interest in an eligible home, anywhere in the world, while he or she was the purchaser's spouse. If this is the case, no refund is available to either spouse.

Contact KJ Law Firm for a free consultation to confirm your eligibility for the land transfer tax refund.

Interim occupancy occurs in new condominium purchases when you are allowed to move into your unit or rent it out before the building is officially registered. Final closing happens later and marks the official transfer of title after the condo has been registered, meaning you now legally own your condo unit. Our team at KJ Law Firm ensures all financial and legal requirements are met during both stages.

In Joint Tenancy (JT), each owner holds an equal share of the property, and has the right of survivorship. In Tenancy in Common (TIC), each owner can hold an unequal percentage of ownership, and manage their interest in the property separately.

The key difference lies in inheritance. With joint tenancy, when one passes away, their interest automatically transfers to the surviving owner(s). With tenancy in common, the deceased’s share forms part of their estate and is distributed according to their will.

In Ontario, choosing between joint tenancy and tenancy in common affects both estate planning and tax considerations. Our team at KJ Law Firm can help determine which structure best aligns with your goals and family situation.