Commercial Property

Measuring Commercial Premises #441

Legally Speaking

A recent case confirms that when listing a commercial property, a licensee should break down the rentable area of each floor.1 The property was a building in Kamloops consisting of a main floor and mezzanine.2 On April 16, 2004 the licensee’s brokerage listed the property for sale. The buyer was a corporation in the business of purchasing and

Passing Information Accurately #433

In a real estate deal, a client depends on the licensee to accurately relay information between the parties. This is especially critical where the licensee is a limited dual agent. A recent Real Estate Council of British Columbia disciplinary decision makes the point.1 Beginning in 2005, the licensee acted as the owner’s property manager for

A Judge’s Guide to Whim and Fancy, or Best Efforts Clauses; Seller Had to Have Actual Knowledge of Default, Not Deemed Knowledge of Agent, to Be Liable Under Contract; Note Re: Legally Speaking 332 #333

Legally Speaking

By Gerry NeelyB.A. LL.B. In one case, the conditional clause in a Contract of Purchase and Sale required the buyer to satisfy himself as to the tax implications of Canadian/USA/international law upon his purchase of Canadian property. The buyer lived and worked in California, and the purchase monies from an inheritance were to be transferred

Commission, Receiver/Manager Can’t Be Sued Personally for Sale of Unionized Business, Seller Discharged Employees, Not Liable for Payment Made by Buyer to Settle Grievance #327

Legally Speaking

By Gerry NeelyB.A. LL.B. An agent who is given a listing of real property by a receiver/manager licensed under the Bankruptcy and Insolvency Act can confidently expect to be paid if a buyer contracts during the term of the listing to purchase the property in question and completes the purchase. Unfortunately, the agent with a listing from

Fair Market Value of Leased Bare Land #216

Legally Speaking

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

Property Purchase Tax Act – Continued #116

Legally Speaking

By Gerry Neely B.A. LL.B The tax return which is filed under the Property Purchase Tax Act with transfer documents has been amended to require a purchaser to disclose the value of machinery, furniture, equipment and fixtures, which are included in the purchase price of non-residential property. “Fixture” is very broadly defined but does exclude

Salespersons’ Duty to Obtain Highest Price – Part 2 #75

Legally Speaking

By Gerry NeelyB.A. LL.B. You have listed for sale a house, to be described in the ad as a handyman’s special, which is located on a heavily-trafficked road in the middle of two blocks of mixed residential tenancy and low profit non-conforming commercial uses. Over the past ten years, repeated attempts to rezone the area