The GST at 5% would apply to a taxable sale of real property in British Columbia where, under a written agreement of purchase and sale, tax becomes payable after March 31, 2013In addition, the transition tax will apply (in addition to 5% GST) to sales of newly constructed or substantially renovated housing where: ...
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To help our clients during the PST transition, Montgomery Miles & Stone Law Firm will be OPEN on Mon April 1, 2013 (Easter Monday)! http://owly/i/1pium...
Continue ReadingI often get asked by Realtors to provide a "fee schedule" and I often say "it depends" because until I can see a contract and a title search I really don't know what work needs to be done for a particular clientSome firms provide "all in" quotes, however I believe these can be problematic for tightly budgeted clien...
Continue ReadingThis is a repost of a Law Society of BC Alert: this guy actually contacted me twice through a couple different Kelowna Realtors (but we sniffed it out both times! whew!)Bad cheque scam – real estate purchase by Kin Hang Cheung Three BC lawyers in three different locations were requested to act on separate BC r...
Continue ReadingRecently in Abbotsford, British Columbia, there was a mobile home park where the owners were given notice to vacate the premises as the mobile home park was being re-developed and the headline read "BC Seniors devastated as homes face bulldozer" (see the full story on CBC here) This was particularly tragic as (accordin...
Continue Readinghttp://wwwyoutubecom/watchv=FiZbAgmM6Ck&feature=youtube_gdataPeter Borszcz is a Real Estate Lawyer and Business Lawyer practicing in Kelowna, BC in the law firm of Montgomery Miles & Stone Law Firm...
Continue ReadingIn the last few years, there had been a landslide of litigation over pre-sale contract under the Real Estate Development and Marketing Act In a recently released Supreme Court of Canada case (Sharbern Holding Inc v Vancouver Airport Centre Ltd, 2011 SCC 23) , the Supreme Court critically defines what information is "ma...
Continue ReadingUnder the standard contract of purchase and sale, used by most Realtors, the RISK of the property passes to the Buyer at 12:01am on the CLOSING DATE Therefore Buyers are well advised to ensure that their insurance policy is effective at 12:01 on the CLOSING DATEOften Buyers will obtain insurance to be effective the...
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