Trustee

Co-Lenders’ Personal Liability for Agent’s Misrepresentation #326

Legally Speaking

By Gerry NeelyB.A. LL.B. Raising financing for a specific project occasionally involves pooling the funds of a number of investors in a mortgage in favour of a limited company which is incorporated and managed by the persons who brought the project to the attention of the investors. An arrangement of this kind is often structured

Property Purchase Tax Act, Bill 60 #115

Legally Speaking

By Gerry Neely B.A. LL.B The Property Purchase Tax Act became law in March of 1987, and amendments to it were made in December, 1987, by Bill 60, mainly to close loopholes or to remove ambiguities in the Act. One loophole was found by developers in the definition of an Agreement for Sale. The definition

Clauses in the Offer to Purchase #8

Legally Speaking

By Gerry NeelyB.A. LL.B. The Offer to Purchase used by the Multiple Listing Service of the Victoria Real Estate Board contains the following clauses:” . . . Balance of cash payment to be deposited in trust by the purchaser by 5 p.m. on ____________,19__. Balance of cash payment to be made to the Vendor and