Category: Realtors

Teaching legal update across the province, I often notice regional differences in how real estate transactions are done A couple of the questions I am often asked is “do I really need to have a subject condition for legal advice in every transaction Or… what is the difference between a lawyer and a notary”Wha...

This blog will attempt to be a valuable resource for Realtors, Buyers, and Sellers of real estate in the Province of British Columbia...

A Power of Attorney (POA) allows another person to make financial and legal decisions for someone else In the context of residential real estate, these documents can be very helpful in the many situations, including:a Buyer or Seller is on active military duty overseas; a Seller is on vacation or otherwise not ...

1 Determine if there is a valid Power of Attorney in placeA Power of Attorney is a legal documents that grants to a person (sometimes called the "Attorney") the right to sell and dispose of the assets of the Donor (the person granting the power of attorney) In British Columbia the statute (law) governing powers of ...

It must be wedding season, as I am definitely seeing a theme in this month's blog posts! Recently I noticed a "FOR SALE" sign beside a church on Richter Street by my office listed by a local RealtorDid you know that a special law applies whenever a chuch is bought, sold or mortgaged in BCThe Trustee (Church P...

The Standard Contract of Purchase and Sale was recently updated to add the word “non-refundable” to Paragraph 12“12 TIME: Time will be of the essence hereof, and unless the balance of the cash payment is paid and such formal agreements to pay the balance as may be necessary is entered into on or before the Co...

This weeks blog post is definitely not legal advice, however growing up in the Real Estate industry for the past 34 years, there are definitely a few ways I have discovered that both Realtors and Lawyers can add value to their clients transaction:Negotiate from a position of strength – in short, ensure that your ...

In BC, Sellers have a choice with Property Disclosure Statements ("PDS"), they could either:simply cross them out and do not complete the questionaire and mark "as-is"; thus the principal of "buyer beware" would apply (Smith, 2005 BCSC 635); or they would have to fill out the PDS "to the best of their knowledge"...

A Contracts Must be In WritingReal Estate Contracts, as contracts for the sale of land, are unique in British Columbia law as s59 of the Law and Equity Act states that “A contract respecting land or a disposition of land is not enforceable unless there is, in a writing signed by the party to be charged or by that...

A "dual agent" is an agent who acts for both the buyer and the seller in a single real estate transaction Often this occurs on "sign calls" where a prospective buyers drives by (or "surfs by") a home they like and calls the agent associated with the propertyDual Agency places the Real Estate Agent between both clie...

Where there is an outstanding or, contemplated special levy (as found in the minutes), Buyers and Sellers need to clearly state WHO is responsible for paying the levy Ideally, a sharp realtor has considered the issue and stuck in a clause in the contract but, in the event it is forgotten:ensure you get a copy of ...

Affordable Housing Covenants are generally registered on your land title as s905 LGA notices and s219 LTA Covenants These covenants limit a) WHO can live in the property and b) HOW MUCH the property can be sold forThe OWNER (meaning all persons on title) must:RESIDE in the Property; Be part of a HOUSEHOLD wh...

At common law, in British Columbia, land tenures can be generally divided into two large catagories, fee simple land and leasehold landsFee simple lands (also called freehold lands) are lands where the owner owns all the property rights associated with thoses lands, except the rights which are reserved for the Crown (f...