Isenberg & Shuman

Barristers, Solicitors & Notaries

May 2014
In This Issue:
What is an Easement?
Close your home
purchase on a
Wednesday
GT !ealtors"
!eport #atest $id%
$onth !esale
&ousing Statistics
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)uotation*
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Quick Links:
What is an Easement?
By #orne Shuman

The process o3 buying a home can be intimidating and o4er5helming6
&omebuyers must 3ace a multitude o3 ma7or decisions, many o3 5hich are
made more di33icult by the use o3 comple8 legal terms6 The term 9easement:
is common and is 3ound in many greements o3 ;urchase and Sale6 This
column 5ill e8plain the meaning o3 this term6
n easement is de3ined as a right in property belonging to someone else 5hich
bene3its land o5ned by the person 5ho has the easemen6 Easements come in
many 3orms6 The 3ollo5ing are some e8amples o3 some common easements6
(irstly, there is the easement to re%enter6 ;rior to de4eloping a subdi4ision, a
de4eloper must pa4e the streets, install hydro and gas lines, 5ater mains and
storm se5ers, and construct curbs and side5al<s6 =nce these and other
ser4ices ha4e been set up 3or the indi4idual lots in the subdi4ision, the lots are
sold to a builder6 'ntil the builder sells the lots and the municipality assumes
responsibility 3or the subdi4ision, the de4eloper has an ongoing obligation to
maintain these ser4ices and ma<e repairs 5hen necessary6 The de4eloper must
also 3inali>e drainage and grading 3or the subdi4ision6 =nce the lot has been
sold to the builder, ho5e4er, the de4eloper cannot legally enter onto the
property 5ithout the consent o3 the o5ner6 The solution to this problem is 3or
the de4eloper to reser4e an easement to re%enter each lot until the municipality
assumes responsibility 3or the subdi4ision6 n easement in the 3orm o3 a right
o3 re%entry is common to ne5 homes6
nother 3orm o3 easement common to ne5 homes is the maintenance
easement6 This type o3 easement is an outgro5th o3 the increasing price o3
land6 With more housing ta<ing the 3orm o3 space%conscious semi%detached
and ro5 houses, it is becoming increasingly di33icult 3or homeo5ners to ha4e
access to the e8terior o3 their properties in order to clean the ea4es, 5ash the
5indo5s, paint the d5elling and per3orm general maintenance6 The solution to
this problem is a maintenance easement6
In the case o3 a maintenance easement, an o5ner is granted access o4er part o3
the property ad7oining their home and their neighbour?s home in order to
repair and maintain his or her o5n home6 (or e8ample, assume that $ar<
o5ns ;arts - and 0 on a plan and that @e33 o5ns ;arts 2 and ,6 I3 part 0 is
sub7ect to a maintenance easement in 3a4our o3 @e33?s property, @e33 can enter
part 0 to repair his o5n home 5ithout being considered a trespasser6 Similarly,
i3 part 2 is sub7ect to a maintenance easement in 3a4our o3 $ar<?s property,
$ar< can enter part 2 5ithout @e33 inter3ering6 s such, the maintenance
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easement is a practical solution to allo5 homeo5ners to legally enter onto
another property 3or a legitimate purpose6
nother easement common to many properties is a utility or telephone
easement6 (or e8ample, there can be a Bell Canada easement6 Where such
easements e8ist, Bell Canada typically has an easement o4er the rear 3our 3eet
o3 a property6 The purpose o3 this easement is to allo5 Bell to enter onto the
lands to maintain and repair underground telephone lines6 I3 anything is built
on the lands o4er 5hich the easement e8ists, Bell may reFuire that the
structure be relocated or remo4ed to allo5 Bell representati4es to gain access
to repair the telephone lines6
The greement o3 ;urchase and Sale 5ill o3ten reFuire that you accept title to
the property sub7ect to minor easements 3or the supply o3 utility lines,
telephone ser4ices and sanitary se5ers6 These easements should not materially
a33ect the use o3 the property6
I3 you are buying a 3reehold property, your title or o5nership may be sub7ect
to an easement6 This can be 4eri3ied by a search o3 the title to the property or
by re4ie5ing the sur4ey, i3 a4ailable6
It is important to understand the meaning and importance o3 an easement6 n
e8perienced real estate la5yer can al5ays help in this regard6

Close your home purchase on a Wednesday
By* $ar< Weisleder
;rinted With ;ermission
s the spring housing mar<et heats up, it?s a busy time 3or closing deals6 The
price you pay is 4ery important, but you also ha4e to thin< care3ully about
your closing date, so that e4erything goes smoothly6
&ere are se4en things to remember*
ny day but (riday* The last (riday o3 a month is typically the busiest day in
most real estate la5 o33ices, especially in the summer6 This mean many deals
5on?t be able to close until late in the day6 Worse, i3 the deal has to be
e8tended, you don?t get <eys until the 3ollo5ing $onday, or maybe Tuesday i3
it is o4er a long 5ee<end6
Wednesday is good* I3 there are delays, it is much easier to manage a one%day
e8tension than an e8tension o4er a 5ee<end6
When sellers must mo4e* Dou should be out o3 your home by 2 p6m6 on
closing day6 $ost real estate contracts stipulate that sellers must turn o4er
possession as soon as the deal is registered electronically6 'sually G
assuming it is not the last (riday o3 the month G that happens by 0 to 2 p6m6
Aacant possession must be gi4en to the buyer at that time6
Try to close early* I3 you are buying and selling in the same time period, close
t5o days early and get bridge 3inancing6 Dou 5ill close your deal 5ithout
pressure and ha4e a 3e5 days to mo4e in 5hile you 5ait until your sale closes6
This 5ill also ma<e it much easier to negotiate an e8tension, i3 you ha4e to, as
you 5ill not be dependent on the money 3rom your sale to close your
purchase6
Clean up a3ter yoursel3* Dou must turn the house o4er in broom%s5ept
condition, 5hich means no garbage6 Buyers should ma<e a 3inal 4isit t5o days
be3ore closing to ma<e sure the seller is properly cleaning up6
When to mo4e* Buyers should not plan to mo4e in until late in the day or the
day a3ter closing, to a4oid paying e8tra to mo4ers i3 things get bac<ed up or
the deal has to be e8tended6
Ho an inspection* E4en i3 you are not mo4ing in that day, buyers should chec<
the condition o3 the home on the day o3 closing, to ma<e sure that nothing has
been bro<en or damaged6 The seller typically guarantees e4erything 5ill be
5or<ing on the closing date, not a3ter5ards, so 3ind out right a5ay i3 you need
to ma<e a claim about anything a3ter closing6
By doing your home5or< be3ore choosing a closing date, you should be able
to a4oid pit3alls later6
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GTA Realtors Report Latest Mid-Month Resale
Housing Statistics
T=!=NT=, pril -C, 0B-, %% Toronto !eal Estate Board ;resident Hianne
'sher announced that the spring mar<et started o33 on a strong note in the
Greater Toronto rea, 5ith a -B6E per cent year%o4er%year sales increase
reported by Greater Toronto !E#T=!S" during the 3irst t5o 5ee<s o3
pril6 Sales through the Toronto$#S system o4er this period amounted to
,,1,- units6
9The robust increase in sales spea<s to the 3act that home o5nership remains
a33ordable in the GT6 The ma7ority o3 home buyers purchase a home using a
mortgage6 household earning the a4erage income in the GT can
com3ortably a33ord a mortgage on an a4erage priced home,: said $s6 'sher6
9While the persistent listings shortage in the GT, coupled 5ith strong
demand, has led to a bris< pace o3 price gro5th, 4ery lo5 ad4ertised mortgage
rates ha4e gone a long 5ay to mitigating the e33ect o3 up5ard trending home
prices,: continued $s6 'sher6
The a4erage selling price 3or pril mid%month sales 5as K1E2,.LC,
representing an annual increase o3 -- per cent6 This increase 5as due to both
tight mar<et conditions and a change in the mi8 o3 homes sold6 t month%end,
the $#S" &;I benchmar< price 5ill pro4ide more insight into price gro5th
attributable solely to the change in mar<et conditions6
9The o4erall a4erage price increase 5as dri4en by single%detached, semi%
detached and to5nhouse sales in the City o3 Toronto6 There 5as a substantial
increase in higher%end home sales this year compared to last,: said @ason
$ercer, T!EB?s Senior $anager o3 $ar<et nalysis6
9This time last year, many 5ould%be home buyers and sellers 5ere still on the
sidelines due to changes in 3ederal mortgage lending guidelines, including
those guideline changes that remo4ed the go4ernment guarantee on mortgage
insurance on home sales o4er one million dollars6 &o5e4er, many o3 these
households ha4e subseFuently ad7usted to the lending guideline changes and
ha4e recently purchased a home,: continued $ercer6
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reasonable prices6 We pride oursel4es 3or being accessible to our clients 5hile
pro4iding personal ser4ices6
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