Category Archives: Real Estate

CANNABIS REGULATION – Calgary, Alberta, Canada

The federal Cannabis Act came into effect on  October 17, 2018 (Bill C-45). https://www.parl.ca/DocumentViewer/en/42-1/bill/C-45/royal-assent The use of cannabis is regulated at the local, provincial and federal level. In Calgary, cannabis may be consumed on private property in any form, but not in public places. Medical cannabis can be consumed in public places approved under municipal…
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CANADA – First-Time Home Buyer Incentive

On March 19, 2019, Finance Minister Bill Morneau tabled his final federal budget before the election in October. The budget introduced a new program to help first-time homebuyers afford a home. Through the program, CMHC could contribute up to 10% of the purchase price to reduce the mortgage load for buyers. To qualify, a buyer…
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Real Estate – Homeowners Insurance Binder

homeowners insurance binder A document accompanying a homeowner's insurance policy. Its sole purpose is to verify that the homeowner's property is, in fact, properly insured. https://www.superbrokers.ca/library/glossary/terms/homeowners_insurance_binder.php When you purchase a home with mortgage financing, it is a standard requirement of your lender that you obtain home insurance. For example, here are the clauses from a…
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CALGARY – PROPERTY TAX 2019

On November 30, 2018, Calgary city council voted nine votes for and five votes against to pass the One Calgary 2019-2022 Service Plans and Budgets. Council voted to approve a 3.45 per cent property tax increase for 2019. https://globalnews.ca/news/4717764/calgary-budget-passed/ “We’re looking at about five dollars per month to the average household,” Mayor Naheed Nenshi told…
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