Parents gifted $10Billion to adult children in 2021 to buy homes. Regina Real estate lawyer Robert MacKay Shares the Top 5 things to consider when gifting money to children to buy a home in Canada
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InsightsWe share insights and perspective on a variety of topics related to the practice of law.
Personal Residence – Capital Gains
MacKay & McLean Discuss Rules Around Paying Capital Gains on Property Questions often arise as to whether a one must pay capital gains on the sale of their property. The general rule is that one does NOT pay capital gains on the sale of their "personal" residence....
Transactions Time Frame
MacKay & McLean Share Advice on Timeline of Real Estate Transactions Modern technology has increased the pace and speed with which a real estate transaction may unfold. Transactions Time Frame used to take six to eight weeks, but they can now, sometimes,...
Title Insurance
MacKay & McLean Share Why Title Insurance is Very Important In our latest real estate law tip the topic is title insurance. Approximately 8.5 million Canadians own their own homes. Owning your own home is a symbol of financial security. However, that security,...
Buying Farm Land
Important Information to Consider When Buying Farm Land Considering buying farm land? 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...
Regina Lawyers MacKay & McLean Paying GST on an Acreage Purchase What do you know about 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...
Considering Lake Front
Real Estate Law Experts MacKay & McLean Discuss what to Consider When Purchasing Lake Front Property Considering lake front property in Saskatchewan? In our latest real estate article we share some important tips and items to consider before you purchase your...
Duty to Disclose
MacKay & McLean Discusses the Duty to Disclose Buying property? Wonder what the obligation on the Seller is to to be honest? This is called the duty to disclose. When buying property, the rule of thumb is caveat emptor or buyer beware. For this reason many Buyers...