Power of the Seal

Commissions and the Power of the Seal #424

Legally Speaking

By Edward L. Wilson Occasionally one hears of a lawyer handling a closing, refusing to pay the REALTOR® their commission out of the purchase proceeds based on instructions from their client. What’s the impact of this action? In Clause 24 of the BCREA-Canadian Bar Association Contract of Purchase and Sale, the seller authorizes and instructs

Commissions and the Power of the Seal #424

Legally Speaking

By Edward L. Wilson Occasionally one hears of a lawyer handling a closing, refusing to pay the REALTOR® their commission out of the purchase proceeds based on instructions from their client. What’s the impact of this action? In Clause 24 of the BCREA-Canadian Bar Association Contract of Purchase and Sale, the seller authorizes and instructs

Offer or Option #57

Legally Speaking

By Gerry NeelyB.A. LL.B. The following are all abbreviated examples of the usual “subject to” clauses to be fulfilled by a purchaser, right? “Subject to approval of purchase price and terms by (name of the president of the purchasing company was added here). . . “1 “Subject to my inspection and approval of premises. .