Tonight I received a phone call from one of my clients about the tax implications of converting a primary residence to a rental property in Ontario, Canada. However, please note that tax laws can be complex and subject to change, so it's always a good idea to consult with a qualified tax professional for advice tailored to your specific situation. Here are some key points to consider: Change in Use:...
In real estate, the terms "latent defect" and "patent defect" are used to describe different types of property defects that can affect its condition, value, or functionality. Here's an explanation of each term with examples: Latent Defects:Latent defects refer to hidden or concealed issues that are not easily noticeable during a reasonable inspection of the property. These defects are typically not...