By Gerry Neely B.A. LL.B What are the respective rights of a buyer, who had contracted to purchase property and a judgment creditor who had registered a judgment against the property, between the date of the Contract of Purchase and Sale and the date of completion? Three owners of a property had agreed to sell …
By Gerry Neely B.A. LL.B The last column No. 266 ended with the suggestion that licensees with independent contractor contracts containing commission trusts, might wish to file a Financing Statement in the Personal Property Security Registry in Victoria, against the possibility that the Supreme Court of British Columbia may conclude that the commission trust creates …
By Gerry Neely B.A. LL.B Section 125(6) of the Condominium Act states that except where a unanimous resolution is required, an owner is not entitled to vote at a general meeting, unless all contributions payable for the owner’s strata lot have been paid. An owner/developer of a newly-created strata corporation, who follows the not uncommon …
By Gerry Neely B.A. LL.B Two decisions illustrate the risk of not using the full name of a company purchasing property, or the failure of a company to be incorporated at the date it received the benefit of an assignment of a contract. In the first case, which involved an agent’s claim for commission, the …
By Gerry Neely B.A. LL.B An investment made by BCREA and the Victoria Real Estate Board, of legal fees towards the cost of a claim made by a Victoria licensee, that payment of her commission had priority over the receiver/manager of a bankrupt agent, paid a quick dividend when the British Columbia Court of Appeal …
By Gerry NeelyB.A., LL.B. The Condominium Act, as out-of-date as it is in many respects, may provide a remedy to a strata lot owner, who finds that a decision of the strata council to manage part of the common facilities for the benefit of all owners, interferes with the owner’s enjoyment of her suite. Section 40 …
By Gerry NeelyB.A., LL.B. A ground level strata unit had a patio on common property, which was reserved for the exclusive use of the owners of the unit. Buyers who purchased it installed a hot tub about June of 1995. The patio was entirely surrounded by the wall of the building, a fence and gateway. …
By Gerry NeelyB.A., LL.B. As anyone who has recently signed a mortgage will know, computerization of the Land Title Office has resulted in a mortgage consisting of two parts. Part I contains the particulars of the parties, legal description, principal amount of the mortgage, the interest rate and how and when the principal and interest …
By Gerry NeelyB.A., LL.B. Generally, the GST legislation makes a buyer of property, upon which GST is payable, responsible for its payment. The seller has the responsibility, as agent for the Crown, of collecting and remitting it. The question of the seller’s rights when the buyer fails to pay the GST, was the subject matter …
By Gerry NeelyB.A., LL.B. Column #247 referred to a case in which the judge laid down six rules for deciding whether or not an article is a chattel or a fixture. Since that case, another judge who said that the rules were of material assistance, has applied them to decide which of the following items are fixtures …
By Gerry NeelyB.A., LL.B. Another decision concerning the right of a strata corporation to pass by-laws limiting occupancy to those of advancing years and to prohibit the rental of any strata units. This case arose out of the occupancy of a unit by parents in their seventies, and a son who was forty-eight, in 1990, …
By Gerry NeelyB.A., LL.B. Section 20 of the Real Estate Act gives the Real Estate Council the power to conduct an inquiry into a complaint, under regulation 9.12, that a licensee has been negligent or incompetent in the performance of any act, for which he is required to hold a license. While the committee reviewing the evidence …
By Gerry NeelyB.A., LL.B. Column #77 discussed an attempt to obtain financing through the use of the Contract of Purchase and Sale, one between the parties and one for the mortgage company, the latter agreement for a higher price and larger down payment than the parties agreed upon. It is a criminal offense to attempt …
By Gerry NeelyB.A., LL.B. Small mistakes lead to big problems, which proves yet again that eternal vigilance is the price to be paid to avoid having to check your E. & 0. insurance to see what the deductible is. Buyers under a conditional Contract of Purchase and Sale, asked the agent to obtain extensions for …
By Gerry NeelyB.A., LL.B. A recent Court of Appeal decision concerning the validity of a lease, while affecting only a few landlord/tenant relationships, may have serious consequences for those few. The property in the lease in question was part of an unsubdivided larger parcel of the landlord’s land. A building was erected on the part. …
By Gerry NeelyB.A., LL.B. An Ontario real estate salesperson made a number of material errors in an eighteen page brochure, prepared by him as part of an elaborate marketing scheme. Three of these, which led to particularly important misrepresentations, were sufficient to allow a buyer to rescind an accepted offer. The salesperson represented that he …
By Gerry NeelyB.A., LL.B. A nominee who called to report the successful defense of an action for damages brought by a purchaser, thought that publication of the brief details might provide a welcome balance to the cases, in which occasionally the licensee has been found wanting. He was full of praise for the professionalism of …
By Gerry NeelyB.A., LL.B. Over a period of four years a ground floor condominium owner experienced water seeping through the exterior wall of her condominium. The frequency and extent of the seepage was sufficient to result in the growth of fungi and bacteria in the soaked carpet, which led to an asthma-like respiratory condition. This …
By Gerry NeelyB.A., LL.B. The sale of a home registered in the name of one spouse only collapsed when a matrimonial dispute led the other spouse to take proceedings under the Family Relations Act to protect her interest in the family home. The licensee who experienced this unforeseen end to what appeared to be a “done deal”, …
By Gerry NeelyB.A., LL.B. Offers to purchase property often contain a condition that the offer is subject to a party obtaining legal advice, usually concerning the title or the terms of the offer. What are the obligations of sellers or buyers for whose benefit this condition is added, and of the lawyers whose opinions are …
By Gerry NeelyB.A., LL.B. The tax laws can have the unfortunate consequence of turning an act of kindness, into a taxable benefit resulting in tax to be paid upon an amount not received. A licensee wrote to suggest that a warning be given to licensees of an assessment of tax by Revenue Canada arising from …
By Gerry NeelyB.A., LL.B. A seller tried to save a deal based upon a Contract of Purchase and Sale that was subject to the purchaser obtaining satisfactory financing, by offering to take back a mortgage when the purchaser was unable to obtain financing satisfactory to him. The purchaser refused this offer and successfully sued for …
By Gerry NeelyB.A., LL.B. A number of tests have been developed by the courts to decide whether an article is a chattel or a fixture, but the difficulties in applying the tests to specific articles continues. For example, signs rented by a former tenant and embedded in concrete, which however could be removed and sold …
By Gerry NeelyB.A., LL.B. The water supply for a newly-created lot came through a pipe from a spring on the parent property, whose owner had consented to the continued use of this water by the purchaser of the lot. However, the lot purchaser did not bother to obtain an easement which would have given him …
By Gerry NeelyB.A., LL.B. Three columns 1 have discussed cases where a seller’s inability to clear the title of a private easement, allowed purchasers to repudiate contracts because of paragraph one of the Contract of Purchase and Sale. It allows restrictive covenants and rights-of-way that are in favour of only utilities and public authorities to remain on …
By Gerry NeelyB.A., LL.B. When limited dual agency is consented to by the seller and buyer, the fact that the agent now has two principals to whom duties are owed, leads to unexpected consequences and a dilemma for which there may be no certain answer, as the following facts demonstrate. A seller and buyer who …
By Gerry NeelyB.A., LL.B. An interest rate in excess of 60% is illegal under Section 347 of the Criminal Code. In one case, a $10,000 bonus on an advance of $180,000, secured by a mortgage for $190,000, to be repaid in 30 days without interest, resulted in an effective annual interest rate of 89%. The …
By Gerry NeelyB.A., LL.B. Well, well, well – city dwellers who are moving in increasing numbers beyond the limits of city water to purchase rural property and who, if asked to measure a well drink would do so in ounces rather than gallons per minute, are finding that their well being may be well-nigh impossible …
By Gerry NeelyB.A., LL.B. A 1981 decision of a judge of the Supreme Court of British Columbia goes some distance towards answering the question of whether licensees can sell the shares of a company which own real estate, and collect a commission for doing so. In addition, it may provide some support, little and perhaps …
By Gerry NeelyB.A., LL.B. There are hundreds, if not thousands, of homes in the province whose titles are subject to the restrictive covenants contained in the building schemes registered at the time the subdivisions were created. An increasing number of cases deal with the enforcement of restrictive covenants, as some owners find them to be …
By Gerry NeelyB.A., LL.B. What do you as a buyer do when your understanding of the contract is that the seller is required to pay GST, but the seller refuses to do so. When that occurred in a recent transaction, the buyer paid the GST to avoid losing the property. The buyer’s lawyer did not state …
By Gerry NeelyB.A., LL.B. The Supreme Court of British Columbia is widening the remedies available to purchasers of condominiums against the former owner or the developer, for the recovery of the cost of repairs of damage caused by a lack of maintenance and repair, or for the repair of dangerous defects. A mortgage lender took …
By Gerry NeelyB.A., LL.B. The Property Condition Disclosure Statement, (PCDS), was the basis for proof of a claim of fraudulent misrepresentation made against sellers, by buyers, when the buyers had to pay approximately $4,000 to correct the septic system problems they found when they took possession of the property. The sellers stated in the PCDS …
By Gerry NeelyB.A., LL.B. Not every listing contract creates a fiduciary relationship, nor does every imperfectly completed Section 28 disclosure by a licensee give a seller a legal basis for refusing to complete the sale of the seller’s property to the licensee. An offer was made in the name of a licensee “and assigns” because …
By Gerry NeelyB.A., LL.B. Before the enactment of the Occupiers Liability Act, at common law a landlord renting unfurnished premises owed no duty to his tenant or to any other person entering on those premises. The Act changed the common law to make a landlord who leases unsafe premises liable for damages to person or property, if …
By Gerry NeelyB.A., LL.B. The frequency with which these columns are dealing with Section 30 of the Condominium Act, and the decisions the courts apparently feel obliged to make as a result of the wording of Sections 29 and 30, make one hope that a new Condominium Act will soon be before the legislature. Bylaws which limit the right …
By Gerry NeelyB.A., LL.B. What is the position of the parties to a Contract of Purchase and Sale when fire damages or destroys the building, which is the subject matter of the contract, between the date the contract was signed and the completiond ate? If the Doctrine of Frustration applies, the parties are not required to …
By Gerry NeelyB.A., LL.B. The case referred to in Column #231, which discussed the loss of a commission payable by an insolvent owner of property valued at less than the total amount of mortgages and liens registered against it, raised comments as to how licensees can protect themselves. The judge stated that licensees either needed the …
By Gerry NeelyB.A., LL.B. Another commission case in which the licensee’s success illustrates again the importance of the wording of the commission clause. A foreclosing mortgagee obtained an Order allowing it to appoint a receiver. The latter then gave a nonexclusive agency to a licensee to whom commission would be payable, “should you procure for …
By Gerry NeelyB.A., LL.B. According to the Property Condition Disclosure Statement (PCDS), the questions and answers within it become part of the Contract of Purchase and Sale, “if so agreed in writing by the vendors and purchasers.” The question is whether they become part of the contract even if there is no written agreement between …
By Gerry NeelyB.A., LL.B. A trio of companies subdivided acreage into 14 lots which included an older home. A building scheme registered by the developers provided that the use of a building for commercial purposes was limited to persons who used the building as a residence and office to carry on the professions or businesses …
By Gerry NeelyB.A., LL.B. When the Homelife/Victoria case was decided in 1992, the conduct required to establish independent contractor status was not common knowledge among the licensees who claimed this status at the hearing. However, Revenue Canada reports that the returns of licensees claiming to be independent contractors continue to be rejected, either because of the terms …
By Gerry NeelyB.A., LL.B. As most licensees must be aware, while the Supreme Court of British Columbia has held in three cases that under the Real Estate Act a salesperson can only be an employee of an agent, the policy of Revenue Canada under the Income Tax Act, is to recognize the independent contract status of a salesperson. That …
By Gerry Neely B.A., LL.B. When a buyer contracts to purchase a residence before construction of it is complete, the law implies a warranty in favour of the buyer that the work will be done in a good and workmanlike manner, the materials will be suitable and the building will be fit for habitation. The warranty …
By Gerry NeelyB.A., LL.B. Landlords will have to be as quick off the starting blocks as Linford Christie, in the 100 meters at the Commonwealth games, if they are to retain the benefit of a security deposit for unpaid rent or damages owed by a departing tenant. A section of the Residential Tenancy Act, which is in …
By Gerry NeelyB.A., LL.B. The launch of the good ship, SS Agency Disclosure, is underway and there is no turning back. She left port comfortably ahead of any potential government interest in legislating adequate agency disclosure and is now moving on the flood tide of the legal and ethical requirements of CREA and the courts. The …
By Gerry NeelyB.A., LL.B. Failure to comply with the Condominium Act may result in an unsuccessful action brought by a strata corporation or the failure of arbitration. In one case, the units in a strata titled industrial park were subject to a building scheme, which allowed units to be used for “manufacturing, processing, storage…of goods and materials.” …
By Gerry NeelyB.A., LL.B. A licensee, whose name I’ve misplaced, asked for a reference for a B.C. case in which a licensee was held to be an agent for the purpose of receiving a notice on behalf of a seller or buyer. In one case, an offer prepared on behalf of a buyer by a …
By Gerry NeelyB.A., LL.B. As the real estate industry in British Columbia moves toward the adoption of buyers’ agency as an alternative to sub-agency, it is interesting to read decisions in which the licensee’s claim for commission would have had a different result if the licensee had been acting for the buyer. In an Alberta …
By Gerry NeelyB.A., LL.B. Possession under the Contract of Purchase and Sale works well when possession is the day after completion, but not as well when both are on the same date. In the latter instance, unless the vendor’s lawyer has the sale proceeds or is satisfied that they are forthcoming, a demand by a …
By Gerry NeelyB.A., LL.B. An owner of a house who was prepared to take a lower price because of its condition, rather than repair it, signed a Property Condition Disclosure Statement (PCDS) which was amended as follows: “L. Are you aware of any roof leakage or unrepaired damage?” “Yes” Section 4 of the PCDS set out by way of …
By Gerry NeelyB.A., LL.B. For those of us who felt that court decisions had relegated the doctrine of caveat emptor to an earlier era, a recent case confirms that the doctrine is still alive to protect vendors, if the facts are right. In one case, prospective purchasers noticed cracks and a sagging floor during their …
By Gerry NeelyB.A., LL.B. A licensed salesperson found a parcel of land for purchasers, who as joint venturers intended to build residential strata units upon it. One of the joint venturers was a company whose principal shareholder was also the agent with whom the licensee was employed. The licensee was given the right to market …
By Gerry NeelyB.A., LL.B. It’s remarkable how often those who draft contracts, including leases and contracts of purchase, and those parties who sign them, find that a term of the contract that seemed perfectly clear to everyone is ambiguous and requires the aid of the court to decide what it means. An example of this …
By Gerry NeelyB.A., LL.B. One of a licensee’s more difficult tasks is setting the date for completion of the sale of property, which is in the process of being subdivided, and to provide for an enforceable extension of closing should registration of the subdivision plan be delayed. Several recent decisions have revolved around the interpretations …
By Gerry NeelyB.A., LL.B. Subject to “satisfactory financing”, while not a whim and fancy clause, has been analyzed in several earlier cases and again in a recent decision involving the cash purchase of a business. The purchaser’s offer was subject to his arranging satisfactory financing. He intended to do this through an institutional lender, whom …
By Gerry NeelyB.A., LL.B. A licensee who found himself the victim of substantial and sustained abusive remarks from a local resident was forced to sue the resident for damages for defamation, in order to protect the licensee’s reputation. Apart from the usual obscenities, the defendant referred to the licensee as, “a scum bag who would …
By Gerry NeelyB.A., LL.B. The death of a client who owned a U.S. vacation condominium revealed how punitive are U.S. federal estate taxes for Canadian citizens who are not domiciled in the United States. The condo was purchased for $150,000, several years ago, and valued at $180,000 at the date of death. Title was subject to …
By Gerry NeelyB.A., LL.B Column #210 discussed the impact upon adult only condominium developments of amendments to the Human Rights Act concerning discriminatory practices based upon the age or family status of a prospective tenant. The next issue is the validity of strata corporation bylaws that restrict occupancy based upon age. Will these restrictions be struck down because of …
By Gerry NeelyB.A, LL.B. How do amendments to the Human Rights Act (HRA) affect a developer pre-selling strata residential units in an intended adult only development? Amendments to the HRA enlarged the definition of age to include anyone between 19 and 64 years inclusive, and added family status as one of the prohibited discriminatory practices in the …
By Gerry NeelyB.A., LL.B. Whether a condition precedent falls within the “whim or fancy” or “option or offer” category of conditions, or within the category that requires purchasers to use their best efforts to satisfy the conditions, is a question judges continue to be asked. Since the cases depend upon different facts, they may appear to …
By Gerry NeelyB.A., LL.B. The increase in the Small Claims Court jurisdiction to $10,000 has resulted in more cases of some complexity being tried in that court because the process is more information and potentially therefore, less expensive than Supreme Court. An agent claimed a commission in Small Claims Court, on the basis that the listing …
By Gerry NeelyB.A., LL.B. What are Rowan’s rights as the owner of land over which there is a common driveway, shared with the adjoining neighbor Martin, where Martin has an obligation to repair, but fails to do so? In 1967 when the right of way was created, whoever owned the adjoining property agreed to pay …
By Gerry NeelyB.A., LL.B. How much force can an owner use to prevent the unauthorized use by a neighbor of a road through the owner’s property? Laurel owned a large piece of land which had a lower and upper road running through it which provided access to Laurel’s neighbor to the east, and to his …
By Gerry NeelyB.A., LL.B. If section 441 of the Criminal Code of Canada were better known to tenants, less of them might trash rented premises. This section makes it an offense, punishable upon conviction for up to five years imprisonment, if an occupant of a dwelling house or other building deliberately and to the prejudice …
By Gerry NeelyB.A., LL.B. By the time this is published amendments to the Residential Tenancy Act will have received third reading, but will only become effective by order-in-council. A review of the more interesting amendments follows. Section 27 of the Act gives a landlord the right to terminate the tenancy where the number of persons permanently occupying …
By Gerry NeelyB.A., LL.B. The question of when an agent’s duty to his principal ends is still uncertain. The answer to the question becomes critical when the property is resold before the sale is to close, and the same agent is involved in both sales. In an Ontario case, an owner of unlisted property accepted …
By Gerry NeelyB.A., LL.B. The Ontario practise of closing transactions differs from the practise in British Columbia, but the comments made by a judge in a case where a vendor was seen to be trying to get out of a transaction may compel both vendors and purchasers to refrain from acting in an “arbitrary, capricious …
By Gerry NeelyB.A., LL.B. Sometimes a simple clause such as the one which follows conceals problems which lead to litigation. “Vendor may retain all rental monies collected from tenants prior to completion date, and purchaser may retain all rental monies collected from tenants on or after completion date.” A dispute arose between the parties as …
By Gerry NeelyB.A., LL.B. A vendor, who accepted a conditional offer to purchase and then accepts a backup offer, limits his right to renegotiate the terms of the first contract. The first contract was with an individual purchaser from whom the vendor agreed to take back a mortgage for part of the sale price. The …
By Gerry NeelyB.A., LL.B. The benefit of the Property Condition Disclosure Statement in avoiding or minimizing a licensees liability is illustrated by a case in which the vendors tried to shift, to a licensee, their liability for a fraudulent misrepresentation made to a purchaser. The representation concerned a roof that was four years old, made …
By Gerry NeelyB.A., LL.B. A common condition in an offer is that it is subject to the sale of the purchaser’s home on or before a certain date. In these circumstances it is the duty of the purchaser to use his best efforts to sell his home. Is there an additional obligation to accept the …
By Gerry NeelyB.A., LL.B The Land Title Act allows a developer who subdivides a parcel of land into lots to register a statutory building scheme which will be binding upon all purchasers and subsequent owners. The typical building scheme contains a number of restrictive covenants whose purpose is to set standards sufficient to create an orderly development …
By Gerry Neely B.A. LL.B An Ontario real estate agent who was found by a judge to have negligently measured the area of his client’s commercial property, was still held to be entitled to payment of the commission earned upon the sale of the property. The agent based his calculations of the area of the …
By Gerry Neely B.A. LL.B The purchase of part of a lot, which must be subdivided from the parent property before title can be given to the purchaser, either requires a ten page detailed contract of the rights and responsibilities of the parties, or a one page standard form of contract with two or three …
By Gerry Neely B.A. LL.B What are the legal consequences for a purchaser whose Contract of Purchase and Sale was subject to raising a mortgage by October 19, 1990, when the purchasers were not made aware that the mortgage had been approved by that date. The purchasers contracted to use their best efforts and it …
By Gerry Neely B.A. LL.B Column #164 discussed a pre-Norfolk v. Aikens offer to purchase which was interpreted using the Norfolk reasons to the advantage of the purchaser who sued for the return of his deposit, but to the disadvantage of the vendor. The purchaser was unable to pay the purchase monies on the completion …
By Gerry Neely B.A. LL.B Generally, when we consider a licensee’s duty to disclose material facts concerning the property in question, we think of material facts relating to the physical condition of the property. In two cases in the U.S.A., decisions by the courts that “things” other than physical defects in the property could be …
By Gerry Neely B.A. LL.B The importance of the exact wording of the terms of a listing contract from which an agent expects to obtain a commission are illustrated in recent decisions of the B.C. Court of Appeal and the Manitoba case which follows. An agreement between a broker retained to obtain financing for land …
By Gerry Neely B.A. LL.B The Residential Tenancy Branch of the Ministry of Labour and Consumer Services distributes a useful brochure outlining the rights and responsibilities of landlords and tenants in British Columbia. It lists, for example, the circumstance under which a landlord may gain possession of the property by giving two months’ notice of …
By Gerry Neely B.A. LL.B The right of an agent to a commission arose in a case where the vendor refused to complete a sale because just two days prior to closing, the purchaser substituted a nominee company for himself as the purchaser of the vendor’s property. The vendor on the afternoon of the day …
By Gerry Neely B.A. LL.B Column #160 discussed a Vancouver case where a purchaser was successful in avoiding the completion of a purchase because the vendor was unable to remove a private easement charging his property for the benefit of adjoining property easement. He was successful because clause one of the standard form Contract of …
By Gerry Neely B.A. LL.B The decision of the city of Cranbrook to extend its boundaries led to a lawsuit against the owner of a small vacant lot and the listing and selling agents involved in its sale to a purchaser who found that the bylaws of the city prevented him from building a home …
By Gerry Neely B.A. LL.B Normally, the listing agent for the owner of an existing home is unconcerned with set backs or other limitations which would affect the size and location of a home to be constructed upon the lot upon which the home sits. A recent decision may change that when the listing salesperson …
By Gerry NeelyB.A., LL.B. Another failed attempt by an owner/developer of a strata development to grant exclusive use to a purchaser of a strata unit of a parking stall within the common property. The contract of purchase stated that the purchase price of a unit included two parking stalls to be held on 99 year …
By Gerry NeelyB.A., LL.B. It seems like a lifetime, but it is only 15 months since the Goods and Services Tax was implemented. Now that this intensive period of instruction in the intricacies of the legislation has ended, we can expect that the Excise/GST branch of Revenue Canada will be shifting more attention to its …
By Gerry NeelyB.A., LL.B. In the tradition of the wisdom of Solomon is a case involving an owner who in the course of excavating for a house foundation, damaged the roots of a tree standing on the boundary line between his and the adjoining owner’s property to such a degree that the tree died. The …
By Gerry NeelyB.A., LL.B. An exclusive conduct of sale given in court ordered proceedings for the sale of property is normally limited to a stated period of time and usually gives the person with conduct of sale the right to list the property with an agent. If a court ordered sale order authorizes payment of …
By Gerry NeelyB.A., LL.B. The following cases illustrate the often expressed statement that in considering an agent’s claim for commission, no general rule can be laid down and each case must be decided on the terms of the contract in question and the facts. In a Saskatchewan case an agent without a listing introduced to …
By Gerry NeelyB.A., LL.B. The decision of the British Columbia Real Estate Association to provide a Property Condition Disclosure Statement to be completed voluntarily by owners should be welcomed by licensees. It is a constructive approach toward reducing law suits against licensees and minimizing liability based upon allegations of misrepresentations made by licensees in real …
By Gerry NeelyB.A., LL.B. A sales brochure for a condominium project which consisted of 55 strata lots and 69 parking stalls, stated that each unit was entitled to one parking stall and that an additional stall, if available, would be rented by the strata council to an owner. The purchasers of one unit made it …
By Gerry NeelyB.A., LL.B. Anyone paying or expecting to receive interest at a rate of say 1 ½ % per month, should check the contract under which interest is payable to see if it contains a statement of the yearly rate of interest which is equivalent to the 1 ½ % per month. The reason …
By Gerry NeelyB.A., LL.B. There have been fortunately, very few bankruptcies among real estate agencies in British Columbia, but when they do occur, they have unpleasant consequences for salespersons sharing in commissions paid to the bankrupt firm. Usually the bankrupt agency had assigned its receivables to its bank to secure a line of operating credit, …
By Gerry NeelyB.A., LL.B. One problem conveyancers don’t want at closing time is a dispute about the adjustments to be made between the parties. Because the amounts involved are generally small in relation to the purchase price, the main reason these disputes are not compromised is because one party doesn’t want to complete. If litigation …
By Gerry NeelyB.A., LL.B. A recent edition of the Bulletin contained a reminder that because of the risk of liability, licensees should not complete the UFFI disclosure statement on the standard Contract of Purchase and Sale. The timeliness of this reminder of the risks run by a vendor or a licensee who completes a disclosure …
By Gerry NeelyB.A., LL.B. A number of amendments have been made to the Property Purchase Tax Act, but those which will affect the largest number of licensees and purchasers are the amendments made to the principal residence exemption. A principal residence is defined as follows: “Principal Residence: A principal residence is a parcel of land that does …
By Gerry NeelyB.A., LL.B. The Court of Appeal has handed down reasons for judgment on another offer or option case. This one concerned an offer to purchase containing conditions which required the vendor to deliver copies of leases and other information to a purchaser for approval. The clauses gave the purchaser the right to be …
By Gerry NeelyB.A., LL.B. One word in a listing contract meant the difference between failure and success for a licensee claiming commission based upon an offer made during a one year holdover period, which contained a condition removed after the expiration of the holdover period. The case is useful because it illustrates the often quoted remarks …
By Gerry NeelyB.A., LL.B. A judge of the Supreme Court of British Columbia has interpreted the rescission rights contained in Part II of the Real Estate Act which are available to the purchaser of a strata title property, in a way which may bring some limited joy to developers. The case involved an accepted offer made March …
By Gerry Neely B.A., LL.B. Paragraph 3 of the Contract of Purchase and Sale states that the purchaser will bear all costs of the conveyance; this is consistent with a number of decisions in the B.C. Supreme Court made between 1975 and 1990 which held that it is the purchaser’s obligation to prepare and tender …
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