deposits-in-trust

2011-08-27T09:52:00.000-07:00

without prejudice

- negotiations are on going to remove this web site, Michael you offered to return the deposits when this web site was removed. It was removed for 30 days and the deposits did not show up. Now this web site is back online waiting for the deposits.

When purchasing a new town house from Michael Moldenhauer, part of the Clarkson Manor project, I gave Michael's company, Clarkson Manor Inc., deposits.
There were four deposits. All of those monies were for the delivery of my new town home some time in the future.
These deposits were given over time from approximately the fall of 2007 through to the fall of 2008.
In 2010, the entire project was cancelled by Michael Moldenhauer's company and we felt horrible.
The new town house was not going to be built.
We had planned our lives around this.
I asked Michael on numerous occasions to ensure all my money was put
into trust. Some of the monies ended up not being put into trust, $3960.

Eventually I ended up in Small Claims court asking a judge to make
Michael Moldenhauer put my $3960 into a trust account for the development
of my new town house.
When asked in the court room, May 2010, if he would complete the project by
the judge, he firmly responded that the project would be completed by the
fall of 2010. This unbelievable statement was made whilst there was not
even one foundation dug on the property at 1575 Lakeshore Dr west
in Mississauga.

Later that fall, the project was cancelled.

To get our in trust deposits back, the Tarion organization had to perform
miracles. Even though the monies were in a trust account held by
Robins Appleby and Taub (lawyers for the builder at the time of purchase),
the law firm would not release the funds. They continued to state
that in order to release the funds, the builder had to 'instruct the
law firm to release the funds'.

This process went on for months, it felt like years.

Eventually only 3 of the deposits were returned. The $3960
remains in Clarkson Manor's hands and not returned.

This last week, Aug 24th 2011 the actual physical property
was being auctioned by a real estate company.

As at August 28th, 2011 the status of my deposits is
in the builder's hand while the property is being sold.

Shouldn't the builder have to return all the deposits when
the property is being sold off ?