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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. In addition to complete coverage of the necessary stages of a conveyance, BC Real Estate Practice Manual addresses practice issues mostly likely to confront and require a lawyer's expertise, including discussion of real estate licensees, tax considerations, undertakings, and collapsing deals. Mainly focused on residential property, this resource also provides a summary chapter on commercial conveyances.
With this resource, you will be able to:
- avoid common conveyancing practice errors and mistakes
- refer to statutes and cases to start your investigation of any substantive law issues that arise
- use over 125 conveyancing forms and precedents to save you time
Buy your online-only access and be confident in your conveyances today!
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