Many people mistakenly believe that they will be able to easily recover their down payment when they separate from their partner. Unfortunately, things are not so simple. Indeed, section 1015 of the Civil Code of Quebec establishes a presumption that the shares of the co-owners are equal. This presumption will be valid in the absence […]
The decisive question is: was the “cash” payment, in order to avoid the payment of the applicable taxes, an essential condition of the contract? If so, the contract is void and deemed never to have existed and, in the majority of cases, requires the parties to return the benefits they have received from each other. […]
Under the Civil Code of Quebec, the interest rate claimed must be the rate agreed upon by the parties or, in the absence of an agreement, the legal rate. Under the Interest Act, the legal interest rate is five percent per annum (5%). You can, however, agree on a higher interest rate. Also under the […]
