Interestingly, the limitation period can be affected by partial payments or acknowledgements of the debt. Under section 13(11) of the Limitations Act, a part payment or written acknowledgement of the debt can restart the two-year limitation period. For instance, if a debtor makes a partial payment towards a debt within the original two-year limitation period, this payment is treated as an acknowledgement of liability. This action effectively restarts the two-year clock from the date of the partial payment.
March 17, 2025
Buy one property a year for ten years. Never amortize for more than 15 years. Never sell. That in a nutshell is the basis of The Money Machine Seminar. I first rolled that seminar out in 1989. Unlike today, nobody was doing real estate investment seminars back then. Today with all the ‘nothing down’ ‘get rich quick’ schemes out there, people are jaded when it comes to courses on real estate investment. But back 36 years ago the room was packed.
March 17, 2025
I think most people have the best intentions when it comes to their life. To their future. We determine January 1st that this is the year we are going to get fit. To lose weight. To take that dream vacation. But somehow life gets in the way and by mid-February, we’ve lost sight of those goals. It’s been said, if you fail to plan, you plan to fail. And I think that’s at the heart of the problem. We have goals in mind. But we have no clear path on how to get there. And without a systematic plan, we make little progress.
Now that we are well into the start of 2025, it’s a great time to re-assess your personal goals and resolutions you made back in January. Your home and finances are key areas where small, intentional changes can lead to big improvements in security, stability, and quality of life.
Our last article focused on situations where a property is damaged before a deal closes, such as events of water damage. We considered how in situations of fundamental breach, a purchaser may be entitled to terminate the agreement or else take the proceeds of insurance and complete the purchase. However, this “take it or leave it” scenario is rarely the full picture. Most events of damage fall short of fundamental breach. This article focuses on the strategies and options that may be available to home buyers when they are notified that a property has experienced some damage or alteration prior to closing.
February 17, 2025
Despite the Bank of Canada taking steps to reduce interest rates, many Canadians still feel pressure due to the overall cost of living and inflation. This uncertainty can be unnerving for many individuals, but don’t fret!
February 17, 2025
Our agents are outstanding salespeople. We know that. Working with clients. Finding the treasure property. Negotiating the deal. Simply the best. And when it comes to support personnel nobody comes close to the talent and dedication of our crew. What you may not know, however, is that in addition to their obvious talents, lurks in many cases superb cooking skills.
February 17, 2025
I now have the January sales figures in from the Board. They are not precise. This concerns me when it comes to both number crunching and reporting. I’m not faulting anyone but the fact is that a couple of changes have occurred which skew the figures. The first, as we’ve discussed in the past, is that the industry over the past year or so has switched from average sale prices to HPI prices (Home Price Index) which zeros down on one type of sale.
