US EditionUPDATE: Relief from forfeiture in real estate deals—a rare exception
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UPDATE: Relief from forfeiture in real estate deals—a rare exception
In our previous coverage of Naeem v. Bowmanville Lakebreeze West Village Ltd., we explored the rare judicial path to recovering a deposit after failing to close on a real estate transaction. A recent decision from the Ontario Court of Appeal affirms that outcome—marking it as a rare but noteworthy exception to the general rule that forfeited deposits are final. Ontario courts generally enforce deposit forfeiture strictly: if a buyer doesn’t clos…
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