January 2001 - British Columbia Real Estate Association

Option, Payment to Lawyer of Optionee Invalid Exercise of Option; Confirmation Added to Addendum, of Discussion With Seller, Was Not a Counteroffer #331

Janie Cranfield | January 1, 2001

By Gerry NeelyB.A. LL.B. An owner who sold a building lot took back an option to repurchase it if the buyer did not construct a dwelling house upon it by a fixed date. The option had to be exercised by a payment to the buyer of $20,000 within three months of the date. Construction of …

The British Columbia Real Estate Association acknowledges that our head office is located on the unceded traditional territories of the Coast Salish Nations of Sḵwx̱wú7mesh (Squamish), səl̓ilwətaɁɬ (Tsleil-Waututh), and xwməθkwəy̓əm (Musqueam). We also acknowledge the other 195 First Nations in British Columbia, as these are the lands we each call home.