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Brian Madigan LL.B., Broker
BRMadigan@Rogers.com

RE/MAX West Realty Inc.,
Brokerage
Independently owned and operated

96 Rexdale Blvd. 
Toronto, Ontario 


Phone: 416-745-2300

Cell: 647-404-8150 
Toll Free: 1-888-507-0817

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Posts tagged with: deposit

Deposit Must be Credited

November 3, 2019 - Updated: November 3, 2019Deposits

Deposit Must Be Credited This is an issue that arises from time to time. If you are already in the Court of Appeal, you might as well ra ...

Tagged with: deposit credit azzarello court of appeal ontario law

Forfeiture of Deposit: Is 12.5% Too Large?

July 26, 2019 - Updated: July 26, 2019Deposits

Forfeiture of Deposit: Is 12.5% too large? The size of a deposit and whether it should be relieved from forfeiture was the subject of ...

Tagged with: deposit forfeiture redstone greco ontario law

Structure the Good Faith Deposit Cautiously

February 3, 2019 - Updated: February 3, 2019Deposits

Structure the Good Faith Deposit Cautiously Let’s assume that you are a Buyer submitting an Offer on a million dollar property. Th ...

Tagged with: deposit automatic forfeiture submit part payment portion safe provable damages ontario law

Lot Falls Short of “more or less”: Deposit Returned

December 14, 2018 - Updated: December 14, 2018Deposits

Lot Falls Short of “more or less”: Deposit Returned The Ontario Court of Appeal just released a decision about a deposit on ...

Tagged with: deposit more or less square footage shortfall right to withdraw resile ontario law

Make a Partial Payment Instead of an Increased Deposit

December 11, 2018 - Updated: December 11, 2018Contracts

Make a Partial Payment Instead of an Increased Deposit There are very good reason from the perspective of the Buyer that the deposit sho ...

Tagged with: contracts deposit partial payment alternatives clause ontario law

Deposit of 5% Forfeited notwithstanding Profit on Resale

December 9, 2018 - Updated: December 9, 2018Deposits

Deposit of 5% Forfeited notwithstanding Profit on Resale The issue of the deposit came up once again in the Superior Court of Justice be ...

Tagged with: deposit fofeiture profit resale automatic ontario law

Seller Keeps the Resale Profit PLUS the Deposit

November 5, 2018 - Updated: November 5, 2018Deposits

Seller Keeps the Resale Profit PLUS the Deposit The Ontario Court of Appeal recently looked at a situation where the Buyer was purchasin ...

Tagged with: deposit upgrades resale profit go to seller defaulted transaction dada v. brantford ontario law

20% Deposit is Good

November 5, 2018 - Updated: November 5, 2018Deposits

20% Deposit is Good The Ontario Court of Appeal just had an opportunity to consider the size of a deposit in an agreement. If it ...

Tagged with: deposit size maximum 20 not penalty ontario law

Deposit Too Large to be Forfeited

November 3, 2018 - Updated: November 3, 2018Deposits

Deposit Too Large to be Forfeited On occasion, a deposit can be too large. Then, it becomes something of a penalty if it’s lost. T ...

Tagged with: deposit large too large penalty relief from forfeiture scicluna ontario law

Placing the Deposit Cheque in the Trust Account

May 15, 2018 - Updated: May 15, 2018Contracts

Placing the Deposit Cheque in the Trust Account Question: When a deposit is provided "herewith" with an offer by a Bu ...

Tagged with: deposit cheque cash place in trust account 5 business days ontario law

When Does a Seller have to Mitigate in a Defaulted Real Estate Transaction?

April 17, 2018 - Updated: April 18, 2018Litigation

When Does a Seller have to Mitigate in a Defaulted Real Estate Transaction? This is an interesting question and hundreds of thousands of ...

Tagged with: contract formation deposit not necessary not consideration ontario law termination repudiation mitigation damages timing

Deposit is Irrelevant to Contract Formation

April 3, 2018 - Updated: April 3, 2018Deposits

Deposit is Irrelevant to Contract Formation The concept of a deposit is irrelevant to contract formation. It is just purely and simply ...

Tagged with: contract formation deposit not necessary not consideration ontario law

Is a Deposit Consideration for a Contract?

February 18, 2018 - Updated: February 18, 2018Deposits

Is a Deposit Consideration for a Contract? This question keeps coming up, so let’s have a look at it. There are a few thin ...

Tagged with: deposit consideration contract creation formation performance ontario law

“Earned Payment Non-refundable Deposit” Clause

January 22, 2018 - Updated: January 22, 2018Contracts

“Earned Payment Non-refundable Deposit” Clause We looked at the issue of the proper need to adjust the wording in respect to ...

Tagged with: non-refundable deposit clause agreement deposit forfeiture penalty explanation ontario law

Mediation as the Solution for Defaulted Real Estate Transactions

October 8, 2017 - Updated: October 8, 2017Litigation

Mediation as the Solution for Defaulted Real Estate Transactions The Spring GTA real estate market saw a sudden and unexpected increase in p ...

Tagged with: mediation defaulted real estate transactions bad market deposit sue buyer no closing ontario law

Brokerage: 5 Business Days Deposit

September 21, 2017 - Updated: September 21, 2017RECO, OREA

Brokerage: 5 Business Days Deposit Question: The Listing Brokerage has 5 business days to deposit the down payment money in ...

Tagged with: deposit funds trust account timing reco ontario law

Get the Deposit Paid even with an Uncertified Cheque

September 3, 2017 - Updated: September 3, 2017Deposits

Get the Deposit Paid even with an Uncertified Cheque Payment of the deposit is a “key” component in most agreements. If it&r ...

Tagged with: deposit cheque uncertified delivered no nsf proof good deposit ontario law preiano v. cirillo

Magician's Deposit Clause

December 11, 2016 - Updated: December 11, 2016Deposits

The Magician’s Deposit Clause A few Brokerages have been using a clause which they find helpful. From time to time a Buyer decid ...

Tagged with: deposit magician disappears no deposit delayed deposit orea ontario law

Suing for the Unpaid Deposit

May 11, 2016 - Updated: May 11, 2016Deposits

Suing for the Unpaid Deposit Bob submits an Offer on Bill’s property for $890,000 with a $50,000.00 deposit, which Bill accepts. ...

Tagged with: deposit unpaid no proof of damages automatic judgment ontario law

No Deposit - Seller's Options!

April 10, 2016 - Updated: April 10, 2016Contracts

No Deposit: The Seller’s Options! What can the Seller do if the deposit is late or doesn’t arrive at all? There ...

Tagged with: deposit none late breach of contract essential term fundamental term terminate contract ontario law

Deposits - Selecting the Right Clauses

April 7, 2016 - Updated: April 8, 2016Contracts

Payment of the Deposit and Selecting the Correct Clause From time to time agents run into problems with the deposit clause in the stan ...

Tagged with: deposit clause orea agreement certified cheque interest amount stakeholder ontario law

Deposits ~ A Primer

October 22, 2013 - Updated: October 22, 2013Deposits

The British Columbia Court of Appeal recently had to consider the forfeiture of a deposit in a real estate transaction. Here’s t ...

Tagged with: deposit real estate transaction buyer default forfeit no penalty

Deposit Failure and the Better Contract Consequence

August 14, 2013 - Updated: August 14, 2013Contracts

Oliver Wendell Holmes made it quite clear that there are two reasonable options with every contract: fulfill it, as required, or ...

Tagged with: deposit not paid breach consequence right to terminate ontario law

Two Reasons for the Deposit

February 14, 2013 - Updated: March 1, 2013Deposits

Two Reasons for the Deposit Ontario Real Estate Source By Brian Madigan LL.B. There are actually two ...

Tagged with: deposit secuirty pre-estimate of damages ontario law article

Brian Madigan LL.B. Broker

RE/MAX West Realty Inc. Brokerage

Independently owned and operated

96 Rexdale Blvd. , Toronto Ontario,

Phone: 416-745-2300

BRMadigan@Rogers.com

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