Virtually Toronto Real Estate: News and Information
for July 2003
TODAY'S TOPICS
-Toronto Real Estate Board 'MarketWatch'
July 2003
SAME-SEX MARRIAGE AND REAL ESTATE
TORONTO PUBLIC GOLF COURSES
-MARKET WATCH-July 2003-
Super Summer! 8,033 Sales in June
With 8,033 sales reported through the TREB MLS system, last
month
was by far the best June ever recorded in the history of the
Toronto
Real Estate Board President Cynthia Lai said today. "Sales
are up
almost 12 per cent over the 7,176 recorded in June of 2001,
which was
our previous best-ever figure for the month. They are also up
a
whopping 22 per cent over the 6,627 sales recorded in June 2002,
and even up marginally over May's 8,025 figure."
"June's performance is quite astounding given the challenges
Toronto
has faced during the first part of 2003," Ms. Lai said.
"However, it is
likely that some of the activity we are seeing now is a result
of buying
decisions that were deferred from the first half. This should
make the
summer market unusually robust."
There is also good news with respect to afforability as prices
fell
marginally, with the June figure coming in at $295,053, down
one per
cent from the $298,451 recorded in May. The median price also
fell
marginally to $255,000 from $256,100.
TREB Market Watch (July 2003)
-SAME-SEX MARRIAGE AND REAL ESTATE-
Since the landmark June 10 Ontario Appeal Court ruling and the
Canadian
federal government's decision not to appeal that judgement,
the city
of Toronto has been busy issuing same-sex marriage licenses
to gay
and lesbian couples who may not have fully evaluated the real
estate
implications of entering into this legal union.
In my December 17, 2002 column on relationships and real estate
ownership "Love Can Put Real Estate at Risk in Canada",
legal
implications were explored to identify the complexities involved:
When you get married in Canada, the law treats your marriage
as
an equal economic partnership. If your marriage ends, the value
of property acquired during the marriage and the increase in
value
of any property brought into the marriage will usually be divided
in
half and shared between the spouses regardless of who contributed
more money or labour, or who is to blame for ending the relationship
...In spite of any division of property, family law provides
that each
spouse has an equal right to stay in the family home, unless
a
judge decides that one must move out.
In a federal government discussion paper entitled "Marriage
and
Legal Recognition of Same-sex", researchers confirmed that
Canada
is far from the first country in the world--and Ontario is not
the first
province in Canada--to address whether and how to legally recognize
same-sex unions.
For instance, Several countries have debated this issue for
many
years and have come up with a variety of approaches, ranging
from
same-sex marriage in the Netherlands to the legal recognition
of
domestic partners, registered partnerships and civil unions
in
Scandinavia and parts of Europe.
The provinces of Quebec, Nova Scotia and Manitoba have enacted
legislation that allows gay and lesbian couples as well as opposite-sex
couples to record their relationships in a civil registry.
Although some of these approaches appear to be similar, each
is
quite different, as it has been created to fit the particular
society and
to comply with specific constitutional and legal structures.
Legal
advice, usually helpful in dealing with real estate issues,
becomes
essential when unraveling the complexities of law, real estate
and
relationships in Canada.
By the way, common law relationships add complexity, too. Since
1999,
people who live together in same-sex relationships have had
the same
rights and obligations as opposite-sex common law couples. However,
common law couples do not have the same rights as married couples
when it comes to sharing property bought while they were living
together.
(If you live with someone without being married, you are said
to be
living in a common law relationship or cohabiting.)
Confirm your rights going into a marriage or common law relationship
to protect your real estate now and in the future.
(realty times)
-TORONTO PUBLIC GOLF COURSES-
Toronto's golf courses are a challenge for players of every
skill level.
Our green fees are reasonable, with reduced rates for Juniors
and
Seniors, a 9-hole morning rate off the back nine, and a twilight
special for early evening players.
Enjoy a refreshment or a light snack at our licensed snack
bars after
the game. Visit the course pro shop, managed by a certified
member
of the Canadian Professional Golfers Association. The fun
begins in mid-April and finishes in mid-November.
http://www.city.toronto.on.ca/parks/recreation_facilities/golfing/golf_index.htm
