It’s an exciting time – the old house is sold, the new one is ready, and all that’s left is the move…..oh wait – not quite yet!! There’s all that legal “stuff” to deal with now….signatures….titles to be given…and pages and pages of documents that need to be signed before the key is in your hand!!! And to top it all off – who really knows a good real estate lawyer?

REGINA – Stephanie Gabber’s excitement over buying a new home in Pilot Butte quickly wore off when she tried to develop her backyard and found a drainage ditch running through the property.

It’s an exciting time – the old house is sold, the new one is ready, and all that’s left is the move…..oh wait – not quite yet! There’s all that legal “stuff” to deal with now….signatures….titles to be given…and pages and pages of documents that need to be signed before the key is in your hand!!! And to top it all off – who really knows a good real estate lawyer?

MacKay & McLean provides the professional services of a large Regina law firm, with the intimate attention of a small firm. The legal process can be daunting and overwhelming, but it doesn't have to be. MacKay & McLean is with you every step of the way.

MacKay &  McLean are TRUSTED REGINA LAWYERS

The three words most commonly used to describe MacKay & McLean Barristers & Solicitors

Service. Solutions. Integrity. 

Being a small firm, the lawyers of MacKay & McLean give personal, professional attention to each of our clients, thus maximizing results while minimizing cost. Our lawyers and front office staff take the time to talk to you so that you are comfortable with the process of our services. More importantly, we take the time to listen to you.

 

 

 

We provide a full range of legal services including:

 

• Real Estate & Mortgages

• Wills & Estates

• Family Law & Divorce

• Commercial & Corporate Law

• Litigation & Personal Injury

 

It’s an exciting time – the old house is sold, the new one is ready, and all that’s left is the move…..oh wait – not quite yet! There’s all that legal “stuff” to deal with now….signatures….titles to be given…and pages and pages of documents that need to be signed before the key is in your hand!!! And to top it all off – who really knows a good real estate lawyer?

MacKay & McLean provides the professional services of a large Regina law firm, with the intimate attention of a small firm. The legal process can be daunting and overwhelming, but it doesn't have to be. MacKay & McLean is with you every step of the way.

MacKay &  McLean are TRUSTED REGINA LAWYERS

Here Robert shares a tip on GST & Acreages:

When buying an acreage Canada Revenue Agency (CRA) has an administrative presumption that the land in excess of 1/2 a hectare (1.235 acres) is not reasonably necessary for the use and enjoyment of the building as a place of residence. In otherwords, CRA presumes that the excess land does not form part of the residential complex.

However, a taxpayer may be able to establish that the excess land is reasonably necessary for the residential building to properly fulfill its function as a residence. This requires that the excess land be more than simply desirable.

The prior use of the land is also critical in determining whether G.S.T. will be payable. Where the prior use was residential or maybe used as a hobby farm, then it appears that G.S.T. is not payable. If the prior use of the land was commercial, e.g. farming, then it appears that G.S.T. is payable by the Buyer.

 How to Purchase Commercial Real Estate: PART 3

Purchasing Commercial Real Estate: Identify the Right Property

There are a number of factors to consider when looking for suitable commercial real estate to purchase. The old adage "location, location, location" is true for commercial properties just as much as it is for residential. But there are other issues at play, as well. Here are some things to consider:

Location: This is still the No. 1 issue. You want to be close to your customers, your workers, and your vendors or suppliers. "You want to be convenient to customers to the extent that you have a business where the customer comes to you," Martin says. "But depending on the type of business, access to rail and highway and shipping lanes may be important, too."

Physical condition: After identifying the general location, consider how the property was used, the wear-and-tear, whether there are any environmental issues or potential liability issues, such as asbestos or lead paint.

Allowable uses: If your business is an accounting firm, you likely need commercial office space. If you are a manufacturer, you need an industrial space. Either way, you need to make sure the zoning allows you to do what you need to do on the property.

Limitations on exterior or interior: Whether due to zoning laws or building codes or covenants, there may be limits to changes or alterations you can make to the property. A good example is a building that is in an historic area and subject to restrictions on changes that can be made to the façade.

Adequacy of access and parking: You need to make sure your customers can park and take into consideration whether access is compliant with laws such as the Americans With Disabilities Act.

Opportunity for expansion or leasing: Entrepreneurs often have a rosy outlook about growth and so the potential to expand is a consideration as is the flipside – if you don't grow as much as planned, can you lease out extra space?

Part 4 coming soon!! 

It’s an exciting time – the old house is sold, the new one is ready, and all that’s left is the move…..oh wait – not quite yet! There’s all that legal “stuff” to deal with now….signatures….titles to be given…and pages and pages of documents that need to be signed before the key is in your hand!!! And to top it all off – who really knows a good real estate lawyer?

MacKay & McLean provides the professional services of a large Regina law firm, with the intimate attention of a small firm. The legal process can be daunting and overwhelming, but it doesn't have to be. MacKay & McLean is with you every step of the way.

MacKay &  McLean are TRUSTED REGINA LAWYERS

Here Robert shares a tip on Buying Farmland:

Strong commodity prices, low interest rates and a positive growth outlook for agriculture tend to increase the demand for farm land by farmers and investors alike, both within the province and from without.

Be aware that The Saskatchewan Farm Security Act (Act) places restrictions on farm land ownership in Saskatchewan.

To own land one must be:

1. A Canadian citizen;
2. A Permanent resident of Canada; or,
3. A 100% Canadian-owned entity (corporation), partenership, syndicate, joint venture, co-operative or association) whose shares are not traded on the stock exchange, i.e. ownership interests are privately held. 

Further, in addition to ownership the Act restricts leasing, having any other interest in farm land that would normally accrue to the owner of farm land. Violating or failing to comply with the Act can result in fines and divesture of ownership. However, there is an application process to apply for exemption. The Farm Land Security Board reviews these applications and will provide an exemption if it is satisfied that it is appropriate to do so.

For more detailed information go to http://www.farmland.gov.sk.ca/ or call the Farm Land Security Board at 306-787-5047.

Once you have committed to either buying or selling your property, simply tell your realtor and lender, as applicable, that Robert MacKay will be representing you and to forward the appropriate instructions to MacKay & McLean, attention "Robert MacKay". 

Robert MacKay is your Trusted Regina Real Estate Lawyer