Developer

A Developer Must Disclose All Amendments to a Disclosure Statement #431

Legally Speaking

An anticipated result of the current economic situation has been in increase in litigation concerning condominium unit pre-sales. One such recent B.C. Supreme Court case relieved an unhappy purchaser from his obligations under the purchase agreement because the purchaser did not receive all of the amendments to the disclosure statement at the time of purchase.1

Contract of Purchase and Sale – Clause 18 #344

Legally Speaking

By Gerry Neely B.A. LL.B I understand it is the standard practice of a licensee to explain the significance of the Contract of Purchase and Sale terms to the parties to it, before it is signed. This is particularly desirable for Clause 18, in which the parties agree there are no representations, warranties, etc. other

Aboriginal Land Development and Sale (Continued) #329

Legally Speaking

By Gerry NeelyB.A. LL.B. Column 328 referred to the landlord/tenant relationship resulting from the development of reserve lands. Once all levels of approval have been given, for example, to a residential project, a headlease is created between the federal Minister of Indian and Northern Affairs and a developer, as the tenant. This document provides the

Strata Property Act, Continued #325

Legally Speaking

By Gerry NeelyB.A. LL.B. An owner-developer now has the opportunity until the first annual general meeting to amend the strata plan to designate parking stalls as limited common property for the use of strata lot owners and, in addition, to designate up to two extra stalls for their use. “Extra” means those stalls set aside

Strata Property Act Regulations #324

Legally Speaking

By Gerry NeelyB.A. LL.B. BCREA published in 1999, a very useful cpe seminar manual, called Strata Property Law for REALTORS, on strata property law and in particular, the Strata Property Act which becomes law on July 1, 2000. This year, regulations to the Act were published which will affect developers, owners and strata councils. The Act requires an owner/developer to

Substantial Instead of Minor Changes to the Condominium Plan; Disclosure Statement – Failure to File Amendment, Material False Statement in the Budget #269

Legally Speaking

By Gerry Neely B.A. LL.B Since many developers are now pre-selling before there is a hole in the ground, their presentations to prospective buyers can only be based upon models, plans and sales brochures portraying the merits of the condominium a prospective buyer may occupy. Inevitably some alterations to the plans are required as construction

Prospectus and Court Ordered Sales #80

Legally Speaking

By Gerry NeelyB.A. LL.B. By the time this is published, we hope that Bill 66, The Real Estate Amendment Act (No. 2) 1985,* has been proclaimed. If it has and the Superintendent has made available the form and contents he will require for a disclosure statement, then the long wait to obtain approval of a prospectus, which

Restrictive Covenants – Cancellation or Modification #76

Legally Speaking

By Gerry NeelyB.A. LL.B. It’s been a hot summer and not just in the forests. The stack of listings you had in June have sold, disappearing as rapidly as pancakes at a loggers’ breakfast. No obvious source of new listings was apparent, and it looked as if cold calls might be the only antidote to

Commission – Open Listing #73

Legally Speaking

By Gerry NeelyB.A. LL.B. An open listing given by the owner of property in the fall of 1982 to half a dozen agents – the introduction of the eventual purchaser by a licensee who is not one of the half dozen – a signed agreement by the owner to pay the licensee the commission –

Prospectus, Disclosure Statement and Other Changes #83

Legally Speaking

By Gerry NeelyB.A. LL.B. More than you ever wanted to know about this subject, but were afraid to ask. The changes to Part 2 of the Real Estate Act that have been made over the past three years, ending with the most recent policy statements Numbered 7 and 9 issued by the Superintendent in December, 1985, justify

Issues for Developers, Easements and Subdivision Plans #11

Legally Speaking

By Gerry NeelyB.A. LL.B. You own seventeen acres of vacant land in West Vancouver for which you have obtained approval of a plan of subdivision which requires the dedication of a road along the northern boundary of your property. Your problem is an easement crossing the area of the proposed road, in favour of the

“Best Efforts” Cases #9

Legally Speaking

By Gerry NeelyB.A. LL.B. Very occasionally a prospective purchaser for whom an offer to purchase is being prepared, asks for the insertion of a condition in the agreement such as “subject to financing…” because he is not entirely certain whether he wants to buy the property. The reasoning of course is that if he decides