Fixtures and Chattels WHAT’S THE DIFFERNCE! They differ in the way they impact the seller and the buyer, as well as two ways to disclose them using Forms.

What are Fixtures?
A Fixture is a component that is permanently fixed to the real property. Examples range from a water tank to a furnace.
Fixtures often have rental costs or contracts with the existing homeowner that could carry over to the new homeowner if the property is sold.

How Can a Fixture Impact the Seller and Buyer?
The main impact Fixtures could have on a transaction is the financial obligation they come with.
Scenario: You are representing a seller and discover the furnace (the Fixture) has been permanently fixed to the home for the last two years and continues to remain on a contract with rental costs.
First, you’ll want to clarify two pieces of crucial information about the furnace:
1. Is there a payout privilege for the furnace? 2. If the furnace does not have a payout privilege, will the buyer assume the rent upon possession of the home?
If there is no payout privilege, you must ensure this is made known to the buyer in light of the rental costs they would face after closing.
Alternatively, if the buyer does not assume the rental, the seller must also be informed and can be advised of a possible payout option for the furnace.

What are Chattels?
Chattels are possessions that can be removed without causing destruction to the property, with examples that range from window coverings to ceiling fans.
Chattels do not have associated rental costs and can also be excluded from the purchase price, which also marks the key difference between Chattels and Fixtures.

Two Ways to Disclose Fixtures and Chattels
Disclosing Fixtures and Chattels is easy, and you have the resources to disclose them using Forms available through WEBFormsR:

Form 111 – Agreement of Purchase and Sale
Clause No. 4 and Clause No. 5 allow you to disclose the Chattels or Fixtures that are included or excluded in the sale of a property.
You’ll be able to easily prevent confusion and disclose what obligations your clients may have related to a Fixture, as well as avoid disappointing the buyer by indicating what Chattels will be removed after closing.

Form 828 – Residential Information Checklist – Rental or Lease – Fixture(s)/Chattel(s) Included
Form 828 is not a mandatory form; however, it helps to protect you, and using it will add value to the services you provide.
This form features a checklist format, allowing you to inform the buyer in writing of any Fixtures or Chattels that are owned or rented, as well as their associated costs and any additional information surrounding the contract.
If you are representing a seller, you can also use this form as a reference point to ensure transparency is met with your client.

Public meeting for condominium slated for north Oshawa

<www.google.com/url?rct=j&sa=t&url=http://oshawaexpress.ca/public-me eting-for-condominium-slated-for-north-oshawa/&ct=ga&cd=CAEYACoUMTM2MTM4Nzgy NTA4MjQ3MjY1NzIyGWVkMWM5YTkwMzM2NzMxYmI6Y2E6ZW46Q0E&usg=AFQjCNHFIU1lxIB30E_n uA8iYP1LNGGQvQ> Public meeting for condominium slated for north Oshawa Oshawa Express A public meeting will be held about a plan to build a condominium at Shankel and Townline Roads in the north end of Oshawa. An application for …

Oshawa Housing Market Rebounds as Sales Soar 66% in June

<www.google.com/url?rct=j&sa=t&url=https://torontostoreys.com/oshawa -real-estate-covid-19-remax/&ct=ga&cd=CAEYACoUMTE4MzY1NTEyNzIyODE1MzM2ODAyGW VkMWM5YTkwMzM2NzMxYmI6Y2E6ZW46Q0E&usg=AFQjCNHlQkmL4DZCzabkD_5NOU01rLWXzw> Oshawa Housing Market Rebounds as Sales Soar 66% in June
Toronto Storeys
Located just under an hour east of Toronto you’ll find Oshawa: the largest community in the Durham Region and a major contributor to the Southern …

Oshawa sets building record in June for industrial permit

<www.google.com/url?rct=j&sa=t&url=https://canada.constructconnect.c om/dcn/news/economic/2020/08/oshawa-sets-building-record-in-june-for-industr ial-permits-2&ct=ga&cd=CAEYACoUMTA1MjEyMjgzMzYxOTM1NTczNTEyGWVkMWM5YTkwMzM2N zMxYmI6Y2E6ZW46Q0E&usg=AFQjCNE15b3nWtGxZFUpUX4Jp7Qm-i1T-g> Oshawa sets building record in June for industrial permit
Daily Commercial News
In addition, year-to-date construction value issued in Oshawa has already exceeded 2019’s total construction value by $8 million. Four major projects …

Parkland eyes investment at Port of Oshawa

Oshawa sets another building record in June

<www.google.com/url?rct=j&sa=t&url=https://oshawaexpress.ca/oshawa-s ets-another-building-record-in-june/&ct=ga&cd=CAEYASoTNzI1NTUyMzg0OTU2MTYxOT Q0NjIZZWQxYzlhOTAzMzY3MzFiYjpjYTplbjpDQQ&usg=AFQjCNGEm1jcMfIJGLmlrwsvSSlT_RG 4XA> Oshawa sets another building record in June
Oshawa Express
– CSPAC Industrial Thornton & Wentworth – new industrial (883 Thornton Rd. S.) total value of $49,100,400. – Oshawa South Self Storage Limited …

Landlord and Tenant Bill Passes

Landlord and Tenant Bill Passes

The Ontario government has passed <list.trebnet.com:81/t/30170/3726721/2132/1/> Bill 184, Protecting Tenants and Strengthening Community Housing Act, 2020 into law as a way to provide stability to the province’s rental market by increasing fines for unlawful evictions, and reinforcing the necessity for landlords to explore repayment agreements before considering evictions.
The changes would apply retroactively to March 17, 2020, when the province first declared a state of emergency over the COVID-19 pandemic.
Easier to Resolve Disputes
The government believes that the legislation, which updates the Residential Tenancies Act, 2006 and Housing Services Act, 2011, will make it easier to resolve disputes while protecting tenants from unlawful evictions by:
* Requiring tenant compensation of one month’s rent for “no fault” evictions; * Allowing the Landlord and Tenant Board to order up to 12 months’ rent in compensation for eviction notices issued in bad faith or where the landlord does not allow the tenant to move back in after renovations or repairs; and * Doubling the maximum fine amounts for offences under the Act to $50,000 for an individual and $250,000 for a corporation.
Streamline Dispute Resolution Process
The government also feels that the changes will modernize and streamline the dispute resolution processes at the Landlord and Tenant Board, and encourage the use of alternatives to formal hearings to resolve certain issues and encourage negotiated settlements. The Landlord and Tenant Board must now consider whether a landlord tried to negotiate a repayment agreement with a tenant before it can issue an eviction order for non-payment of rent related to COVID-19.
Certain disputes, such as those related to unpaid utility bills, will shift from Small Claims Court to the Board.

For the provincial new release, please read here <list.trebnet.com:81/t/30170/3726721/2133/2/> .
Residential Eviction Ban to End
In a related matter, the province’s residential eviction ban will end when Ontario’s state of emergency legislation expires. However, Ontario’s Superior Court of Justice <list.trebnet.com:81/t/30170/3726721/2134/3/> published an amendment extending that deadline until the end of the calendar month in which the state of emergency is terminated.
Therefore, the provincial order suspending residential evictions in response to the pandemic will end on July 31, 2020.

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It’s a Seller’s market in Durham! Supply and Demand still RULES!! Low supply and lots of Buyers allow prices in Durham to increase 4.7% year over year!

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