Property Disclosure

PODCAST: Episode 8 – A REALTOR®’s Guide to Radon Gas

Open House by BCREA logo

Episode 8 of Open House by BCREA, A REALTOR®’s Guide to Radon Gas, features a conversation about radon gas and real estate with Dr. Noah Quastel, Director of Law and Policy for Healthy Indoor Environments at the BC Lung Foundation. Radon gas isn’t new, but it’s certainly something that Realtors continue to learn about. BCREA

Live Online Course and FAQ Created for REALTOR® Education About Radon Gas

Radon gas is an odourless and colourless radioactive gas that occurs naturally throughout BC

With questions about radon gas recently added to the Property Disclosure Statement in April 2020, REALTORS® may be looking to brush up on their knowledge about the odourless and colourless radioactive gas that occurs naturally throughout BC and which, if accumulated in homes and other buildings, can become a health risk. As a result, BCREA,

Property Disclosure Statement Revised and Released Alongside New Online Course

The British Columbia Real Estate Association (BCREA), in collaboration with the provincial Standard Forms Committee, BC’s 11 real estate boards and other stakeholders, has updated the Property Disclosure Statement (PDS). The updated PDS is now available on WEBForms®. What are the changes to the form? As a response to several issues impacting the BC real

Failure To Disclose Proves Costly #498

In the summer of 2012, a seller was advised by his neighbour that environmental consultants were inspecting the neighbour’s property for possible contamination, and would contact the seller to do similar tests on his property. In August and September, the seller received two separate “Notification of Likely or Actual Migration” forms from the environmental consultants.

Property Disclosure Statement Tips #483

The BC Court of Appeal recently decided Nixon v. MacIver, the court’s newest Property Disclosure Statement (PDS) case.1 Once again, the court held in favour of the sellers. It seems timely to offer a few PDS suggestions for licensees. Listing REALTORS® Why use a PDS? It makes sense that the seller, the person most familiar with the

Environmental Liability #478

Legally Speaking

In Dolinsky v. Wingfield, oil from a leaky underground tank contaminated the property next door.1 When the affected property’s owner sued to recover clean-up costs, the court held several current and former owners of the source property liable. In this case, the properties were adjacent, with Ms. Dolinsky’s property downhill. Further downhill, beneath both properties, lay the

Caveat Emptor Does Not Always Protect The Seller #477

Legally Speaking

In a recent case, the plaintiff offered to purchase a property “subject to inspection.”1 A Property Disclosure Statement (PDS) accompanied the Contract of Purchase and Sale wherein the sellers had answered negatively to whether they were aware of any structural problems, moisture and/or water problems in the walls, basement or crawl space or damage from wind,

Buyers Must Beware #465

Legally Speaking

A recent Provincial Court decision1 was an excellent example of how BC higher court judgments are applied to the factual problems that arise between buyers and sellers. In February 2005, the defendant, Montpetit, purchased a fire-damaged house. He undertook extensive renovations and in February 2006, listed the renovated property for sale with Coast Realty. Montpetit signed

What’s in a Name? Engineering Reports and the PDS #449

Legally Speaking

By Jennifer A. CleeB.A., LL.B. The recent BC Supreme Court decision of Meslin v. Lee1 considers what constitutes an “engineer’s report” for the purpose of disclosure on the Property Disclosure Statement (PDS). The action involved a condominium sale (the property) that failed to complete. On the completion date, the buyers rescinded the Contract of Purchase and Sale

Property Disclosure Statements: Benefit or Burden? #447

Legally Speaking

By Jennifer Clee The real estate industry is in a furor over the recent decision of the Ontario Court of Appeal in Krawchuk v. Scherbak1; both the sellers and the real estate agent were found liable to the buyer despite disclosing past settlement of the home and despite the buyer’s obligation to make enquiries of and

Underground Storage Tanks: A Refresher #434

Legally Speaking

By Jennifer Clee For properties built before 1957, the presence of an underground oil storage tank (UST) poses significant environmental and financial risk to buyers and sellers. Not only are properties with USTs at risk of oil contamination from leaking or eroding USTs, properties adjacent to the affected properties are at risk as well. Provincial

Defects, Disclosure and Caveat Emptor #430

Legally Speaking

By Jennifer CleeB.A., LL.B. It’s trite law that a seller and a listing REALTOR® have a duty to disclose known material latent defects, but not patent defects. Sometimes the distinction as to what constitutes a patent defect or a latent defect isn’t clear. Take a sump pump in the crawl space, for instance. Is it

Full and Honest Answers to PDS Questions #416

Legally Speaking

By Edward L. Wilson Property Disclosure Statements (PDS) have been adopted by real estate boards and associations across Canada, with most being similar to the various PDS provided by BCREA. The care that must be taken in completing the PDS has been considered in several court decisions. In a recent Ontario decision, the court considered

Untruthful Property Disclosure Statement Deceitful #364

Legally Speaking

By Gerry NeelyB.A., LL.B Paragraph 18 of the Contract of Purchase and Sale excludes liability for misrepresentations made outside it and the Property Disclosure Statement (PDS), when the PDS forms part of the contract. However, it does not protect a party against whom an action for deceit is brought. This issue is discussed in a

Damages, Licensees’ Purchase of Property Customer Wanted, No Explicit Agency Relationship, Fiduciary Duty; Leaky Condo, Buyer Acted Unreasonably in Relying Upon Property Disclosure Statement #336

Legally Speaking

By Gerry NeelyB.A. LL.B. It should be obvious that licensees cannot purchase property they know their clients want. If licensees are uncertain whether an agency relationship has been created by conduct, they must take all necessary steps to satisfy themselves that the buyers have abandoned their interests in the property, before offering to purchase it.

The Millennium Bug – Will It Y2K-O Us? #299

Legally Speaking

By Gerry NeelyB.A., LL.B. Between those whose Y2K predictions are of nuclear bombs accidentally detonating, others who say Y2K is nothing but hype by the media and the Y2K specialist consultants who benefit from compliance work, there are a number of conservative computer system analysts who believe that North America will face disruptions in 2000

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

Section 28 Disclosure Statement #53

Legally Speaking

By Gerry NeelyB.A. LL.B. Section 28 of the Real Estate Act was amended in 1981 to widen the requirements for disclosure to be made by a licensee prior to the purchase of real estate by the licensee or his associates. The amendment required the preparation of a disclosure statement “in the form and manner prescribed by the