The Risk In Owning Illegal Income Properties (Part V of Legal Series) – Episode #41
Continuing with our Beach Investing Legal Series with Shayle Rothman from Parnes Rothman Real Estate Lawyers. In part five of our legal series we discuss the risks involved in owning an illegal income property. Most income properties in the Toronto Beaches are illegal or non conforming, so how does this affect the Buyer/Seller? Does the City of Toronto turn a blind eye when it comes to illegal suites due to the lack of housing supply compared to the demand? Who is likely to complain about your illegal suite and have the City come and knock on your door? Why is November 1995 such an important date for investors? Please make sure you consult with your trusted Realtor and Lawyer in order to have your interests protected.
To reach Shayle at Parnes Rothman Real Estate Lawyers you can check out their website at www.realestatelawyers.ca or you can call them at 905-477-5151.