I've discussed this with several accountants and also consulted with one of the top cross boarder tax specialists in Toronto.Steven's response is correct; due to similarities in law, tax policies and bilateral treaties, there is little if any double taxation when Canadians invest in the US.

Specifically, anything indicating that the lease is completed and both sides have no claims or issues with each other.There's no "standard" agreement that I'm aware of, but we've done a bilateral "Termination of Rental Agreement" when we wanted to document that a tenant has officially moved out, that there are no outstanding funds owed, and that there are no claims or issues.These agreements are particularly useful when doing "cash for keys" with a tenant.I would keep it simple: State in the document exactly what you want to establish as facts, and then run it by an attorney for good measure.I'd also recommend requiring the tenant's signature be notarized.

You don't need an MBA, but you do need to learn really how the business world operates, it's not how most people think, at least on here.Then pick your industry, here, you have chosen RE.Basic knowledge is dry, unexciting, when you read it it's hard to see where the money is or how in the world does knowing that a legal description "closes" or what a certain deed of conveyance does to make you money.The reason most have problems trying to follow some guru path to wealth is because they don't understand the foundation that the strategy is built on.In basic business law you'll learn what an endorsement is, what an assignment is and the different types of contracts there are (not talking RE contracts I'm speaking of unilateral and bi-lateral contracts).

In a contract it is a bi-lateral agreement, meaning you perform and they perform...

They see it similarly but they're more concerned with is it a Unilateral or Bilateral (if you don't know, its Unilateral).

Any financing agreement is a bilateral contract and that may not be assigned to another party without consent of the lender, this is basic contract law.

Hi, real estate contracts are bilateral contracts, between to parties.

@Bart Lucas a rent to own option is a unilateral relationship (not bilateral).

I'll stop, but consideration depends on the type of contract, unilateral or bi-lateral as to the obligations of the parties.

It's a bilateral contract, and if expectations of representation are continued to not be met, you have every right and should cancel.