Does owning 20% of a property mean you are responsible for only 20% of the mortgage? Not necessarily.

Barrie real estate lawyer Laura Rosati explains how unequal ownership, tenancy in common, joint tenancy and lender requirements can affect Ontario homebuyers. She also discusses why the ownership structure shown on title may not change each borrower’s mortgage liability.

For help with purchases, sales, mortgages, refinances, condos, vacant land, and commercial transactions, contact Laura Rosati and the Devry Smith Frank LLP real estate team by emailing info@devrylaw.ca.

Disclaimer: This video is not legal advice. Consult with a qualified legal professional for advice tailored to your circumstances.