Below you'll find a list of all posts that have been tagged as “Real Estate”
A question that we are asked by realtors and clients is whether the seller has to disclose to the buyer that a death occurred at the property. This issue was recently reviewed by the BC Court of Appeal in Wang v. Shao, 2019 BCCA 130. The case involved the sale of a large and expensive residence in Vancouver. The seller’s …
On January 1, 2020, the Family Property Act replaced the Matrimonial Property Act. The biggest changes relate to property rights for “common law couples”. Unlike the Matrimonial Property Act it applies to “common law” couples and gives them the exact same property rights as the Matrimonial Property Act gave to married couples. I use quotes because the meaning of “common …
COVID-19: Landlords and Tenants – Force Majeure and the Commercial Lease One concept that is becoming familiar to Landlords and Tenants as a result of the COVID-19 Pandemic is force majeure. Force majeure is latin for “superior force”. It is related to the concept of an act of God, an unanticipated event for which no party can be held accountable. …
Condo Special Assessments (again) I had several follow up questions from Realtors regarding my last email to you. Basically the concern was this: “How do we protect the Buyer from the situation you described in your last email?” In my last email I described a file in which the condo board had borrowed funds to pay for a new roof …
Condominium Special Assessments Clause 10.4 of the current Residential Resale Condominium Property Purchase Contract reads as follows: “Regardless of when a resolution for a special assessment contribution states that a levied payment is due and payable: (a) the seller is responsible for special assessment payments passed by a resolution on or before 12 noon on Completion Day and will make …
Condominiums: I have been asked a number of questions by Realtors about condominium purchases lately. Usually the answers require a realtor to reconsider some of the basics of Alberta Condominium Law. I will review some of the basics you should always keep in mind when dealing with a condominium. Remember: 1. A condominium is an alternative legal system of real …
“Caveat Realtor?” Do vendors and real estate agents have a duty to alert potential buyers to the pedophile next door?” This is the heading of a lead article in this month’s Canadian Bar Association NATIONAL magazine. It is this type of article that lawyers across the country read, think about, and then use for their next lawsuit on a real …
I had an interesting issue arise this month. The Realtor had a Buyers Agent Agreement and the property was being sold as a “For Sale by Owner”. In order to increase the price for mortgage purposes, there was an additional term of sale written in the Purchase Contract that stated as follows: “The seller agrees to pay the buyer 1.75% …
1. There are tax implications. For example, will capital gains on the house become taxable? 2. There are estate planning implications. For example, if the parent dies and the title is joint, does the child get it? Are other kids being unfairly deprived? Should the parents revise their Wills? 3. How do parents protect the property from the child’s creditors …
Effective April 1, 2011, Land Titles fees will increase. The cost for a copy of title will go from $5.00 to $10.00. Base fees for registering a transfer will go from $35.00 to $50.00. The base fee for registering a mortgage will go from $15.00 to $50.00. (Remember that in addition to the base fee LTO also charges an additional …
