Real Estate
WPJ&K has been serving residential and commercial clients for over 35 years.
The firm provides a complete range of real estate legal services, including:
- Purchase and sale of both residential and commercial properties
- Refinancing of residential and commercial properties
- Drafting, reviewing, and negotiation of commercial leases
- Representation for private mortgagees from commitment to enforcement
- Review and negotiation of offers to purchase condominiums
- Condominium development, from acquisition of development property to sale of the final unit
Frequently Asked Questions
Q. What is land transfer tax?
The land transfer tax is the provincial government’s sales tax on land. It is calculated on the price of the land as follows: 0.5% on the first $55,000.00, 1% on the amount between $55,000.00 and $250,000.00, 1.5% on the amount between $250,000.00 up to $400,000.00, and 2% on any amount of the purchase price above $400,000.00. In addition, the City of Toronto has its own land transfer tax.
Q. Is there an exemption for land transfer tax for first time buyers?
First time home buyers are exempt from the first $2,000.00 in land transfer tax.
Do I need a lawyer to buy or sell property?
In Ontario, only lawyers can register a Transfer/Deed of property, so buyers and sellers do need to retain a lawyer if they want to buy or sell property in this province.