The standard Contract of Purchase and Sale (CPS) is a familiar form of contract. Parties in a transaction and their representatives have come to expect the standardized form of CPS when contracting for residential real estate. However, some clauses in the CPS can be confusing for buyers, sellers, and REALTORS® alike. In this two-part series …
Under BC law, contracts for the purchase and sale of real estate must be in writing to be enforceable. When contracts are in writing, there is generally greater certainty about what terms the parties agreed to. However, just because a contract of purchase and sale is made in writing, it does not mean the contract …
When looking for a property to develop or redevelop, prudent buyers are well advised to investigate the suitability of the property for their plans prior to committing to purchase it. Depending on the property and the type of development, this may include researching or retaining the appropriate professionals to research and advise on any zoning …
Revocation is the withdrawal of an offer prior to the formation of a binding contract of purchase and sale. For REALTORS®, given the time pressure and risk involved, this represents a significant potential liability and it is an area that should be navigated with the assistance of your managing broker, in addition to your client …
With housing prices near record levels and stubbornly high interest rates, it is hardly surprising that many buyers have and will continue to turn to “mortgage helpers” or secondary suites to supplement their income or increase their purchasing power. According to a May 2023 article from Statistics Canada1, British Columbia has, by-far, the most “investor-occupants” …
With the increased frequency and severity of wildfires, flooding, heat domes, and atmospheric rivers in British Columbia over the past decade, climate change is having real-time effects on real estate transactions for REALTORS® and their clients. Wildfires We’ve all been watching the wildfires in Alberta these past couple of weeks with bated breath, knowing B.C. …
Mental health is always a topic worth discussing because, as conversations about mental health are becoming more and more open, we realize that it touches all of our personal and professional lives in some way. However, mental health issues are still very personal and private and generally up to individuals to discuss (or not) on …
The BC Financial Services Authority (BCFSA) has introduced new Real Estate Services Rules (“Rules”) with respect to teams effective April 1, 2023. But, what’s new in them? The regulator’s historical decisions on teams suggest that timely registration and notice to the regulator is important as, where real estate professionals have failed to register a new …
Second-hand smoke can be the source of much conflict and aggravation in shared living spaces such as strata buildings. While smoking can lead to residential fires and can increase building maintenance costs, more importantly, inhaling smoke is hazardous and there are no safe levels of exposure, for example see Brookes v. The Owners, Strata Plan …
2023 marks another year of regulatory changes in the real estate profession. Some of the most notable adjustments include: This piece focuses on the HBRP with an overview, my two cents on where claims may arise, and my thoughts on how to avoid those claims. Make a New Year’s Resolution: Know the HBRP Much has …
On November 24, 2022, Bill 44, the Building and Strata Statutes Amendment Act, 2022 (the “Act”), was enacted and removed most rental and age restrictions in strata buildings. The amendments became effective immediately on November 24, 2022. REALTORS® need to be aware of the impact of these changes for existing owners, buyers, and sellers. The …
All licensees should be aware of a new buyer protection initiative set to come into force January 3, 2023. The Property Law Amendment Act, 2022 (the “Act”) and its related regulations will give British Columbia buyers of most residential properties a rescission period, informally known as a “cooling-off” period, where buyers can change their minds …
Have you heard of the Instagram influencer Hushpuppi also known as the “Billionaire Gucci Master,” who turned out to be a Nigerian con artist who is currently awaiting sentencing in US jail? You may not be familiar with Hushpuppi, but you should be familiar with the hallmarks of business email compromise fraud and other identity …
Listing and selling tenanted properties can be complicated and add complexity to a transaction. From coordinating showings, to providing vacant possession, to provisions in contracts for standard adjustments at closing, there is a lot for REALTORS® to know and understand. Coordinating Showings At common law and under section 28 of the Residential Tenancy Act (the …
In fluctuating markets, remorse claims become all too common. Consumers regret and want to escape deals. Ensuring you’re well prepared upfront with the proper documentation, the best information and best practices, REALTORS® can help prevent client remorse. Yet, client remorse and uncertainty can still occur despite your best efforts. Why do clients get remorse? Remorse …
When REALTORS® connect with clients in a listing contract, the clients often tend to only focus on one or two key details, such as commission rates or purchase price. As good practice, REALTORS® must remember to slow down and adequately explain the finer details to ensure that clients fully understand the nature of the document(s) …
Working in any profession with friends is fun and working in real estate is no exception. It is a business of mentorship, networking and relationship-building where these relationships can turn into tangible benefits in the form of referrals and other business opportunities. However, while the instincts to collaborate and reward your network are well-intentioned, there …
A recent BC Supreme Court decision (Shave v. Sommerey, 2022 BCSC 183) highlights the potential risks for REALTORS® working with buyers whose residency or citizenship status is unknown or has recently changed. The Property Transfer Act, RSBC 1996, c. 387 was amended in August 2016 to impose a surtax on the fair market value of …
The proposed federal budget for 2022 has introduced a number of new rules relating to real estate, including new rules to dampen speculation in the Canadian real estate market (for a full list of the housing affordability measures announced, click here). REALTORS® should be generally aware of these changes and where they may affect a …
My children collect stickers and trade them at school as though they are currency. And for adults and licensees, the stickers that should concern you are the Canadian Standards Association (CSA) label and the silver label. Licensees selling a mobile or manufactured home should locate and investigate the validity of a CSA label or silver …
Licensees must ensure they read the terms of real estate contracts carefully and explain them to their clients. This is especially true when it comes to assignment clauses contained within contracts. Within the past number of years, the government has imposed laws and regulations around assignments in order to protect sellers, prevent ‘shadow flipping,’ and …
A strong licensing regime is one of the cornerstones of the BC Real Estate Services Act (“RESA”), and something all licensees will be familiar with. However, some intricacies of licensing requirements may catch you off-guard, which is what happened in two recent BC Financial Services Authority (“BCFSA”) investigations resulting in discipline. Licensing – An Overview …
Prior to September 30, 2016 the Real Estate Service Act (Act) limited monetary penalties for brokerages and licensees to $20,000 and $10,000 respectively. However, as of September 30, 2016, the Legislature amended section 43(2)(ii) of the Act to allow for monetary penalties of up to $500,000 in the case of brokerages and $250,000 in any other case. …
As Brian Taylor summarized in his February 26, 2021 Legally Speaking article, Learning from an RECBC Discipline Decision #535, the disciplinary landscape for real estate professionals changed dramatically in September 2016. Most starkly, fines and penalties were greatly increased by the then regulator, the Real Estate Council of BC (RECBC). But there is no need …
Anyone who has been involved in a transaction for a property under construction is likely familiar with the potential for delays of completion. While developers don’t often fail to deliver, it can happen. What happens when significant delays do occur? Can a developer be in default under the contract? What about the innocent party in …
Standard form contracts of purchase and sale are very useful in real estate transactions. They are familiar, well-tested, and cover off all the basics and much more. However, real estate is complicated and the one-size-fits-all approach may not fit every situation. In cases where a standardized contract of purchase and sale does not entirely address the specific needs of the transaction adding terms and conditions – or …
Float homes can seem like great options for buyers seeking an affordable waterfront location. However, buyers considering purchasing their first float home may not be aware of some of the differences between such a purchase, and the simple purchase of a boat, or home on land. Here’s an overview of some differences to keep in …
With the cost of properties continuing to rise in most parts of British Columbia, many people are looking to invest or acquire properties with others. While the co-ownership of property can have financial benefits at the outset, it can also come with a host of problems and disputes. Therefore, parties should consider entering into a …
In a caveat emptor, or buyer beware, jurisdiction such as BC, buyers are required to conduct their own due diligence to satisfy themselves as to the condition of the property they are acquiring. They often employ experts such as home inspectors and environmental, structural and geotechnical engineers to assist them in this regard. These experts …
How hot is the current hot market? Hot enough that earlier this month, the Real Estate Council of BC (RECBC) issued a caution to consumers and real estate professionals, reminding consumers of the importance of due diligence and reminding real estate professionals to have full and frank discussions with consumers, fully explaining the increased risks …
Since the restriction on limited dual agency was introduced in 2018, it has become more common for REALTORS® to work with unrepresented parties in a transaction. Dealing with unrepresented parties presents risks to both consumers and Realtors. Realtors should be familiar with the Real Estate Rules for dealing with unrepresented parties so that they understand …
Starting in 2016, the real estate profession has seen numerous regulatory changes, including increased fines, new regulations, greater involvement from the Real Estate Council of BC (RECBC) and the elimination of limited dual agency. As a result, I have tried to focus many of my more recent articles on discipline decisions of RECBC. While discipline …
It has now been over two years since Canada moved to legally regulate the production and sale of cannabis for recreational use. While households can legally have up to four cannabis plants each, with exceptions made for those who have a license to grow medical cannabis, questions remain about the duties of real estate agents …
On November 30, 2020, the Land Owner Transparency Act1 (LOTA) came into effect, and with it, the Land Owner Transparency Registry (LOTR). Now, with every change in title to a property in British Columbia, a transparency declaration must be filed with the Land Title and Survey Authority of British Columbia (LTSA). Individuals acquiring an interest …
Licensees must be aware of the challenges that exist when representing someone who claims to have the legal right to act on behalf of a property owner on the basis of a power of attorney. Is the power of attorney valid? Was it properly executed? Does it empower the attorney to deal with real property? …
The Question I am asked for advice from licensees on potential claims daily. They often describe a scenario involving complex matters beyond the expertise of a licensee, such as taxes, structural issues/defects or complicated legal questions, like whether a contract alive or dead? They want to know what they should do and what they should …
Before entering into a co-listing agreement, there are some important items REALTORS® need to consider: Will a co-listing be beneficial to the seller(s)? Realtors have a duty to act in the best interest of their clients. Before entering into a co-listing agreement, Realtors should consider whether or not it is in the best interest of …
A recent discipline decision from the Real Estate Council of BC (Council) illustrates how important it is for licensees to be aware of and follow Council guidelines and their interpretations, which can be found in newsletters, notices, articles, and answers to Frequently Asked Questions, all readily available on Council’s website. In this decision,1 a couple …
In BC, real estate contracts are only available in English. However, clients may prefer to communicate in a language other than English and may choose to work with a REALTOR® who can communicate in this language. When this happens, and especially when such clients have not purchased property in BC before, there is an opportunity …
Generally speaking, if a buyer breaches a contract for the purchase of real estate and the seller accepts the buyer’s refusal to perform the contract (as known as “repudiation”), an innocent seller is entitled to retain the deposit paid by the buyer under a contract of purchase and sale. But what happens when a buyer …
The COVID-19 pandemic has deeply affected many parts of our society and economy – including the real estate industry. Terms many of us hadn’t heard of just three months ago – social distancing, self-isolation, lockdown, and Zoom conferencing – are now as common as, “What’s for lunch?” Buying real estate, particularly in a caveat emptor …
These are unprecedented times with the arrival of COVID-19. We have all heard that many times and it’s true for all industries, including real estate. Although the market has slowed down, there will still be deals made and deals completed. There will also still be claims made against licensees. For the most part, these claims …
The current situation with COVID-19 has led to daily changes in the way we live our lives and conduct our business. The rapid changes and daily announcements have led to a lot of uncertainty and questions. In periods of flux, whether economic, political or social, we often see a greater number of collapsing real estate …
Beginning in the late eighteenth century, courts refused to enforce illegal contracts as a matter of public policy. In more recent times, however, courts have tried to become more flexible in their approach, seeking to balance “the need to preserve public policy by not enforcing illegal contracts [against] the need to prevent unjust enrichment by …
What concerns could a waterfront lot, a rural farm, and an older urban home all have in common? One possible answer is that each of these types of property could be subject to the provisions of the Heritage Conservation Act or a municipal bylaw respecting heritage value. Heritage concerns may affect the value of the …
A year ago in Legally Speaking No. 509, I described two Supreme Court of British Columbia cases that addressed whether a strata corporation must first pass an 80% vote (sometimes called a “winding-up resolution”) before strata council may list the whole complex for sale with a brokerage or enter a contract to sell the entire …
When we think of residential occupation, our minds turn to fee simple ownership, strata property ownership or maybe rental occupation. A lesser known but growing form of housing is cooperative housing under the Cooperative Association Act SBC 1999 c.28 (“Act”). Unlike strata ownership, members of a cooperative do not own a specific unit. Members of …
Roughly twice a year my heart stops when a claim comes to my attention. Why? Because a licensee reports that the seller has sold the property twice! Naturally, the seller is upset. They only have one property to sell and two buyers demanding it. In these instances, the seller typically accepts an offer for the …
In its newest report (the “Report”), the British Columbia Law Institute’s formidable committee of strata experts (the “Committee”) recommends more changes to the Strata Property Act (the “Act”). If adopted, these changes will make it easier for a REALTOR® to confirm how strata parking is designated. 1 Background Depending on the circumstances, a strata parking …
Will Rogers defined the first law of holes as follows: “When you find yourself in a hole; stop digging.” A recent discipline decision of the Real Estate Council of British Columbia1 suggests the licensee involved should have taken Mr. Rogers’ advice. The licensee acted as the designated agent of the seller in the sale of …
A recent Civil Resolution Tribunal decision1 highlights some important practice points for licensees in transactions involving strata condominiums. The buyer of a strata condominium claimed against the seller’s agent in misrepresentation and false advertising arising from the description of the building as having a “fully rainscreened exterior” in the MLS® listing. The buyer was surprised …
Many strata owners do not know they may be personally liable to reimburse their strata corporation for its insurance deductible, the portion of the loss the insured must pay in an insurance claim, which can be many thousands of dollars. The British Columbia Law Institute’s formidable committee of strata experts (the “Committee”) recently recommended changes …
In 2007, a man was murdered outside the gates of his Shaughnessy home. The murder, described by the police as a targeted killing, remains unsolved. The victim lived in the home with his wife and two children. The property was owned by his mother-in-law, who resided in China. One of his daughters attended a private …
Seller’s agents must be certain that they are dealing with the person with authority to list and sell the property. Confirming the identity and the authority of your clients may seem simple. However, in the global society today with complex deals, complicated ownerships of property and challenging deals, the pitfalls may be expanding. Examples of …
Strata age restriction bylaws are alive and well. When providing any accommodation, service or facility customarily available to the public, the provincial Human Rights Code normally prohibits one person from discriminating against another because of the other person’s age or family status, unless there is a bona fide, reasonable justification.1 But, the Strata Property Act …
In the many years that I have taught the Legal Update course, most REALTORS® have shown understandable interest in court decisions and how those decisions might affect their practice and personal liability. Surprisingly, I have not noticed the same level of interest or concern regarding disciplinary decisions by the Real Estate Council of BC (Council). …
Number 510 In a recent case from the BC Provincial Court1, the following disclaimer was found ineffective in defending the buyer’s claim that the sellers’ agent was negligent in including incorrect square footage calculations in the MLS® listing: “The enclosed information while deemed to be correct is not guaranteed.” The judge found the sellers’ agent …
Where strata owners choose to terminate their strata development, two recent cases clarify when a strata council might list the project for sale or contract to sell it to a buyer.1 Many of our earliest strata developments are roughly 50 years old. An aging strata building may need so much remedial work that it is …
Recent amendments to the Real Estate Services Act (RESA) granting the Superintendent of Real Estate (Superintendent) greater oversight over the Real Estate Council of BC (Council) resulted in a recent jurisdictional clash between the two regulators.1 In February 2016, in response to concerns about real estate licensee conduct, the Superintendent established an Independent Advisory Group …
When a residential listing agent receives an offer in the standard form, Contract of Purchase and Sale (CPS), the licensee should always cross-check Section 9 and any related wording against the seller’s title. In the CPS, Section 9 promises that at completion the seller will deliver clear title, subject only to the following exceptions: subsisting …
When dealing with consumers, licensees will encounter those who do not read, write or speak English well, or even at all. While licensees are required to be proficient in English as a part of becoming licensed and meeting the English language proficiency requirement of Rule 2-6.1 of the Council’s Real Estate Rules, consumers naturally have …
A REALTOR®’s conduct is subject to review by a variety of bodies. As agents, their conduct is subject to review by the courts where it is alleged that conduct was negligent, breached contractual requirements or was in breach of their fiduciary duties. As licensees, their conduct is subject to review by the Real Estate Council …
Could a licensee be held liable for the poor performance or negligence of another professional such as a home inspector, contractor, or notary public, whom the licensee referred to his or her client? It depends. Factors to be considered include: whether the licensee conducted any due diligence into the competence or reputation of the referred …
Implied agency is very much on the brain these days with the Superintendent of Real Estate’s new rules on agency now in effect. Rule 5-10.1 requires that licensees use a new form from the Real Estate Council of British Columbia to disclose the risks faced by unrepresented parties, the limited assistance that licensees can provide …
If someone dies at a property, is the death a material latent defect that must be disclosed in writing to all other parties before entering an agreement under Rule 5-13?1 Or, is the death a stigma and, if so, must the listing agent disclose it? In Wang v. Shao, the owner was a grandmother whose …
One often hears the phrase “timing is everything.” In a recent case,1 a pair of unfortunate buyers found that out the hard way. The buyers entered into a Contract of Purchase and Sale (CPS) to acquire a residential property. The parties used the standard form residential CPS, although no REALTORS® were involved. The purchase price …
In the recent case Laidar Holdings Ltd. v. Lindt & Sprungli (Canada) Inc., 2018 BCSC 66, the real estate brokerage advising the tenant was found 70 per cent liable for failing to verify the zoning. The tenant had walked away from a lease for commercial premises after the City of Vancouver refused to issue permits …
Some conditions precedent are so imprecise or subjective that they prevent the formation of a contract. Pending the weak subject’s removal, we have only, in law, an offer. Removing the subject in question amounts to accepting the offer. Until the buyer delivers written notice removing the offending subject by the subject removal deadline, there is …
In the summer of 2012, a seller was advised by his neighbour that environmental consultants were inspecting the neighbour’s property for possible contamination, and would contact the seller to do similar tests on his property. In August and September, the seller received two separate “Notification of Likely or Actual Migration” forms from the environmental consultants. …
When is a party justified in refusing to remove a subject clause? A subject clause typically benefits one party or another. At common law, that party must, in good faith, make all reasonable efforts to remove their subject clause. In the standard form Contract of Purchase and Sale, the contract terminates if a party fails …
Judges are often asked to decide between competing versions of events at trial. Lawyers are advocates attempting to persuade the judge that their client’s story should be preferred. When making the decision as to which party’s version of events to believe, a judge may consider which story makes sense, is logical, has a ring of …
Vacant possession means no one else is exercising possession rights in the property. Section 5 in the standard form Contract of Purchase and Sale (CPS) promises a buyer vacant possession, unless a REALTOR® otherwise records the presence of a tenant. Every year, the Real Estate Council of British Columbia (the Council) disciplines REALTORS® for failing …
Too often this column focuses on a REALTOR®’s error or mistake resulting in the REALTOR®’s censure by either a court or the Real Estate Council of British Columbia. Such columns, while concentrating on the negative aspects of practice, are essential in providing REALTORS® with an understanding of the appropriate standard of care and duty expected …
On March 25, 2017, several local newspapers ran a story with the alarming headline, “House buyer beware: Landmark court ruling will shake real-estate industry.”1 The story referred to a February 10, 2017 BC Supreme Court judgment2 and left licensees wondering about this decision’s impact on their duties to ascertain the Canada residency status of sellers for the …
What if a buyer is introduced to a property, or to a seller, during a multiple listing, but later enters a legally enforceable contract to buy the property after the listing expires? The standard Multiple Listing Contract (MLC) preserves entitlement to commission in two stages, subject to one overriding consideration. First, if the seller and buyer enter …
S was the owner-operator of both a real estate brokerage and a mortgage company which intermingled their business enterprises. From 2002 to 2005, M worked as a REALTOR® for the real estate brokerage. In 2004, M purchased a property and by 2007, had consolidated all the mortgages on the property into a single mortgage to …
By Jennifer Clee B.A., LL.B. What happens when a property is damaged by fire before completion? Must the buyer complete or can the buyer walk? What if the buyer wants to complete with a price adjustment? A buyer’s options will depend upon a myriad of factors including the law, facts, contract terms and the parties’ conduct. …
Since the last Legally Speaking on this topic,1 the Supreme Court of British Columbia has awarded significant damages against two owner-builders for poor construction. The provincial government has also raised the threshold for the owner-builder exemption. Since July 1, 1999, unless an exemption applies, every new home in British Columbia must be built by a licensed residential builder, …
In May 2016, in response to public concern over the flipping of single family residential properties in a surprisingly robust residential market, the provincial government amended the Real Estate Services Regulation concerning the assignment of Contracts of Purchase and Sale (CPS).1 The amendment is designed to ensure that buyers and sellers are properly advised about …
By Jennifer Clee B.A., LL.B. Licensees often ask whether a death at a property must be disclosed by the seller, be it death by murder, natural causes, accident or suicide. The simple answer is no. However, there are practical considerations that may make disclosure of such events beneficial to the seller. Seller’s Disclosure Duty Sellers and …
Two major disclosure duties govern every listing REALTOR®. Common law requires the Realtor to disclose any known latent defect. At the same time, the Real Estate Council of British Columbia (Council) demands compliance with the Material Latent Defect Rule.1 Are these two requirements the same? Common Law Latent Defect Under common law, the onus is on …
A decision as to whether a seller should market multiple lots separately or as a package is usually considered a marketing decision, but it can have legal implications as well. In this case,1 the seller offered two separate commercial properties for sale as a package. Each property was subject to a right of first refusal (RFR) …
Under the Strata Property Act1 (Act), a strata corporation may pass by-laws prohibiting or restricting the rental of strata units. A rental restriction by-law (RRB) must be filed at the Land Title Office and will take effect: I. immediately upon filing, if filed by the developer prior to the sale of any units; II. alternatively, the later …
The BC Court of Appeal recently decided Nixon v. MacIver, the court’s newest Property Disclosure Statement (PDS) case.1 Once again, the court held in favour of the sellers. It seems timely to offer a few PDS suggestions for licensees. Listing REALTORS® Why use a PDS? It makes sense that the seller, the person most familiar with the …
In today’s busy marketplace, there is a greater risk of mistakes being made regarding dates and times in a contract, amendment, or other agreement for the sale or lease of land. It is of critical importance that licensees carefully review agreement terms with their clients to avoid simple, but costly date and/or time errors. Have …
A recent BC Supreme Court decision confirms that the Multiple Listing Contract (MLC) creates an equitable assignment by irrevocably assigning to the listing brokerage its commission out of the sales proceeds, imposing a trust obligation on the seller.1 For the conveyancing lawyer or notary, this case and recent changes to the standard Contract of Purchase and …
On occasion, buyers become interested in properties that are subject to historical easements, some over one hundred years old. The Property Law Act provides that a court may cancel an easement where the easement is “obsolete.” Some buyers, and occasionally their advisors, assume that anything old must, for that reason alone, be obsolete and proceed …
By Jennifer CleeB.A. LL.B. Waterfront properties with private docks are looking attractive at this time of the year, particularly with the weather we’ve been enjoying this summer. Licensees involved in the sale of such properties need to be aware of, and inform their clients of, the possibility that any dock or other structures built upon …
In Dolinsky v. Wingfield, oil from a leaky underground tank contaminated the property next door.1 When the affected property’s owner sued to recover clean-up costs, the court held several current and former owners of the source property liable. In this case, the properties were adjacent, with Ms. Dolinsky’s property downhill. Further downhill, beneath both properties, lay the …
In a recent case, the plaintiff offered to purchase a property “subject to inspection.”1 A Property Disclosure Statement (PDS) accompanied the Contract of Purchase and Sale wherein the sellers had answered negatively to whether they were aware of any structural problems, moisture and/or water problems in the walls, basement or crawl space or damage from wind, …
By Jennifer CleeB.A., LL.B. How many licensees are aware that the Heritage Conservation Act (HCA),1 which replaced the Archeological and Historic Sites Protection Act (the Act) in 1977, extends the legislated protection of archeological sites on Crown lands, to archeological sites on private property, without requiring formal designation or notice being registered on title? An archeological site by definition is …
Strata developers often use long-term leases to generate revenue from the sale of leasehold interests in parking stalls and storage lockers. A recent case1 reminds licensees about the importance of the lease documentation, the requirements for which were updated in 2014.2 In a lease over land, recall that the tenant acquires exclusive possession for the …
In 2001, Lakefront Ranch Inc. (Lakefront) owned 320 acres of land in central BC. The property was situated within the Agricultural Land Reserve (ALR) and therefore subject to the Agricultural Land Commission Act (ALC Act) which prohibited the subdivision of land within the ALR into smaller parcels except in extraordinary circumstances. The shareholders of Lakefront were four …
Despite being fraught with risk, licensees continue to practice limited dual agency. While BC courts have recognized the modifications to the agency relationship agreed to by buyers and sellers who have entered a Limited Dual Agency Agreement, a licensee failing to document the parties’ informed written consent to limited dual agency prior to acting as a limited dual agent …
Since late 2013, the provincial government has brought into force various changes affecting strata properties. It seems a good time to review these notable developments. Strata RecordsThere are new strata record-keeping requirements concerning parking stalls, storage lockers and depreciation reports. As of April 9, 2014, a strata corporation must keep a current list of each …
On June 26, 2014 the Supreme Court of Canada released a landmark decision concerning Aboriginal rights and title in the Tsilhqot’in Nation v. British Columbia1 case. In a unanimous decision, the Supreme Court of Canada confirmed that the Tsilhqot’in Nation holds Aboriginal title to over 4000 square kilometers of land west of Williams Lake. This decision is …
Licensees who list, offer for sale or sell a home contrary to the provisions of the Homeowner Protection Act1 (the Act) face penalties up to $25,000 per offence ($100,000 for corporations) and/or up to one year imprisonment per offence. Licensees violating the Act also face negligence claims from clients and/or disciplinary action by the Real Estate Council …
By Jennifer CleeB.A., LL.B. BC courts have accepted that the Limited Dual Agency Agreement (LDAA) limits certain general obligations that a licensee has to their clients. However, licensees must remember that while their duty of loyalty and disclosure are modified by the LDAA, they still owe a duty of “full and fair disclosure of all …
A warranty is a minor term in a contract and does not go to the root of the agreement between parties. It expresses some lesser obligation. Breach of warranty permits the innocent party to sue for damages, but not to repudiate or rescind the contract.1 When negotiating a real estate purchase, a buyer may ask …
A recent Provincial Court decision1 was an excellent example of how BC higher court judgments are applied to the factual problems that arise between buyers and sellers. In February 2005, the defendant, Montpetit, purchased a fire-damaged house. He undertook extensive renovations and in February 2006, listed the renovated property for sale with Coast Realty. Montpetit signed …
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.
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