Standard Forms Reminder
CATEGORY: Standard Forms
TAGS: Canadian Real Estate Association (CREA) Contract of Purchase and Sale Privacy Notice and Consent WEBForms®
Changes coming June 13
On June 13, changes to the Assignment of Contract of Purchase and Sale – New Development and Non-Developer and the Privacy Notice and Consent forms will come into effect.
While none of the changes will have a significant impact on practice, it's important for REALTORS® to familiarize themselves with the changes and make sure they are working with the latest versions of the forms. Please take the time to learn about the changes and then go to WEBForms® for the updates!
Privacy Notice and Consent
This form has been updated to include opt-out boxes so that a client can choose how a REALTOR® collects and uses their secondary personal information. This better reflects applicable privacy laws and makes it clearer that parties are within their rights to withhold consent.
To allow the form to be used for represented and unrepresented parties, "your REALTOR®" has been replaced with "the REALTOR®"; "to whom you are giving this consent" has been added; and "Designated Agent" has been replaced with "REALTOR®".
The form has also been revised to include consistent language with the Canadian Real Estate Association's trademark definitions.
Assignment of Contract of Purchase and Sale – New Development & Non-Developer
Clause 5.25 of the New Development form and Clause 4.21 of the Non-Developer form has been updated to include an initial box for the Assignee to declare whether they are a Canadian citizen or a permanent resident as defined in the Immigration and Refugee Act. This change ensures there is consistency throughout all the Contract of Purchase and Sale forms.
In addition, on page 1, "prepared by" is being replaced with "brokerage" and "per" with "prepared by."
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