Will adding someone on title to your home to qualify for a mortgage give them a beneficial interest in the property, even if they make no contribution to the mortgage or upkeep of the property?
In Ontario, the assumption of mortgage risk as a result of co-signing for a mortgage and remaining liable on it does not amount to consideration. This means that if a person is added on title to your property to help you qualify for a mortgage and remains liable on the mortgage without having contributed to…