New Mortgage Rules -- Real Estate Law

New Mortgage Rules were announced this week in Canada.  The new rule is that mortgages that are insured through CMHC must have an amortization of 25 years or less.  What does it mean to you?  If you have an existing mortgage with an amortizaton of 30 or 35 years then you are not likely affected.  You can renew your existing mortgage under the amortization previously agreed to, but if you refinance (increase the amount of your mortgage at a later date) you will need to come under the new rules.  If you have already signed your real estate contract, you are likely fine. The government as of now seems to be implementing this to deals signed after the announcement.  If you are putting down more than 20% then your mortgage does not require CMHC insurance, therefore, the new rules do not apply to you.  This will only affect new mortgages insured through CMHC.

The real estate Lawyers at Courtney Aarbo can help you with these and any other real estate law questions.  Please do not hesitate to call us at 403-571-5120.

Employment Law questions: can post-termination conduct constitute just cause?  To answer this question one must distinguish between after-acquired knowledge and post-termination conduct.  After acquired knowledge of misconduct that exists at the time of dismissal may be relied upon in support of summary dismissal.  Post-termination conduct can only be relied upon in very limited circumstances.

This principle was recently confirmed in Gillespie v. 1200333 Alberta Ltd, 2012 ABQB 105.

In this case the employee was terminated for personality conflicts at work.  It was later discovered that she breached the non-dislcosure agreement she signed.  The Court found that the post-termination breach of the agreement did not constitute grounds to support just cause.  Nevertheless, it also stated that the non-disclsoure agreement still had meaning.  It drew a distinction between the employment contract and non-disclosure agreement.  By doing so, the court was saying that the employer could not use the post-termination breach of the non-disclosure to justify just cause, but it be used to form a separate action on the breach of that agreement.