Fair Market Value

Partition of Property Act – When Friendship Turns to Enmity #395

Legally Speaking

By Gerry NeelyB.A. LL.B. Two couples who were close friends jointly purchased a Gulf Islands cottage, each taking a one-half interest in the property. They disregarded advice to agree on a method of establishing the price of a half-interest if one couple decided to sell their interest and the other couple wanted to keep the property.

Contract with Unincorporated Company a Nullity; Unlicensed Person Posing as Licensed; Residential Assessment – Market Value Included Not GST; Cheque Yore Spilling #265

Legally Speaking

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

Bank Foreclosure – Customer Rights; CMHC Guarantee – Negligence #114

Legally Speaking

By Gerry Neely B.A. LL.B Financial institutions often demonstrate a casual if not contemptuous disregard for requests for pay-out statements or delivery of an executed discharge of a mortgage. While they are quick to demand payment where default occurs, or interest if payment is delayed, they are not as quick to provide statements or discharges.