O'Sullivan Estate Lawyers LLP
Our Mission: Excellence in providing trust and estate solutions in a responsive and personal manner to carry out your objectives and ensure your peace of mind.

August 2017 Archives

The New Normal: Assisting a Child with Buying a Home

A current trend in the increasingly expensive Canadian housing market is parents helping children or grandchildren and their spouses with a down payment or mortgage on a first home. In Ontario, about 35% of people buying homes now receive assistance from their relatives with a down payment and approximately 38% have a down payment of 20% or more. To see statistics for down payment assistance across the country, please refer to this link. Although such financial assistance is helpful for a child or a young couple looking to get into the housing market, this generous gesture can lead to unexpected and undesired consequences and even disputes, including upon a child's marital breakdown. Without having done the proper planning or evidencing their intention, parents may even see a child lose their gift to a former spouse.

We are a top-ranked and peer recognized firm, including Margaret O’Sullivan by Chambers Canada Guide 2017 and Chambers Canada High Net Worth 2017 as one of the top six private client lawyers in Canada:

  • Top Ranked Canada Chambers 2017 Margaret O'Sullivan
  • Margaret R. O'sullivan 2016 | Listed in Best Lawyers CANADA
  • Canadian Legal Lexpert Directory
  • The Law Reviews | Expert Panel 2015
  • Step | Canada | Advising Families Across Generations
  • Top Ranked HNW Chambers 2016 Margaret O'Sullivan
  • Recognised in WHO'SWHOLEGAL | WWL
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