To calculate LTT payable in a property out side Toronto, please visit http://www.teraview.ca/en/pltt-calculator.
To calculate MLTT payable on the property purchased in Toronto, please visit http://www.teraview.ca/en/mltt-calculator. This is in addition to the LTT payable on purchase of property in Ontario (Ontario Land Transfer Tax).
If you are a first time home buyer, you may be eligible for LTT first time home buyer rebate of up to $4000.00 . For more information, see below articles.
The above registration charge is payable to the Ontario Land Registry on closing , per instrument. eg. Transfer, Charge, Notice of Assignment of Rents , etc.
Title Insurance Policy is an effective tool used by real estate lawyers to minimize the cost of closing a real estate transaction. Most properties in Ontario are title insured. The said policy is purchased in lieu of Survey and other off title searches and covers the owner as well as Lender . You will receive more information when you retain us. Visit http://www.stewart.ca for more info.
When you buy a property or mortgage a property, a lawyer is required to conduct title and writ search on the property , for your benefit as well as for the mortgagee and title insurance company.
The cost varies from property to property. Typically it ranges from $60 to $150
A condominium status certificate is only required if your property is a condominium unit and you are either purchasing or mortgaging the property. Unless agreed upon by the parties, this cost is bearable by the purchaser and has to be paid upfront for making an application to the Condominium Corporation / management . There might be additional convenience fee charged by the corporation for online submission of request. $100.00
Payable by Vendor or mortgagor where applicable $65.00 plus HST