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BC Real Estate Practice Manual--ONLINE ACCESS

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Click here to read a sample from the book!

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
jtataryn@cle.bc.ca

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