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A lawyer’s day-to-day guide to conveyancing
This publication is essential for: lawyers looking for guidance on practice and procedure issues arising from conveyancing in BC.
Current to: March 1, 2018
Although an efficient conveyancing practice may involve delegation to support staff, lawyers are ultimately responsible for ensuring a conveyance is properly managed and advice is sound. In addition to complete coverage of the necessary stages of a conveyance, British Columbia Real Estate Practice Manual guides you through practice issues you are mostly likely to confront that require your expertise, including discussion of real estate licensee regulation, tax considerations for both buyers and sellers, undertakings, and collapsing deals. Mainly focused on residential property, this resource also provides a summary of considerations in commercial conveyances.
With this resource, you will be able to:
- quickly spot and avoid common conveyancing practice errors and mistakes
- refer to statutes and cases to start your investigation of any substantive law issues that arise
- access over 125 conveyancing forms and precedents to save you time
Buy today and be confident in your conveyances!
Highlights of the 2018 update
- BC “Housing Affordability Plan” tax measures (2018-19 budget):
- property transfer tax (PTT) increase to 5% on residential property for portion over $3 million
- additional PTT increase to 20% for foreign buyers, with extended geographic reach
- new speculation tax and exemptions
- PTT form revisions for reporting bare trustee arrangements; announcement of beneficial owners registry
- legal and legislative developments:
- Vancouver empty homes tax: mandatory homeowners’ declaration and exemptions
- Residential Tenancy Act amendments limiting fixed-term tenancies
- June 15, 2018 amendments to Real Estate Rules:
- new disclosure requirements for licencees: remuneration and collateral benefits, how to file complaint, and disclosure to unrepresented parties
- new written service agreement requirement disclosing brokerage remuneration to cooperating brokerages
- new prohibition on dual agency except in limited circumstances and cessation of limited dual agency
- case law and litigation:
- BCCA: actual knowledge not eliminating written notice requirement as to satisfaction or waiver of condition precedent
- BCSC: purchaser entitled to specific performance due to vendor’s failure to act in good faith with respect to retention of condition precedent in order to accept a more desirable offer
- BCSC: developer not being obligated to ensure purchaser understands REDMA disclosure statement
- class action challenge of additional PTT
CLEBC Legal Editor
L. Joy Tataryn