Real Estate Fundamentals 2022

Course Chairs
Sergio C. Custodio — Bennett Jones LLP, Vancouver
Rachel V. Hutton — Stikeman Elliott LLP, Vancouver

About the Course Chairs
Sergio Custodio advises clients on a broad range of business matters, with a focus on real estate, commercial transactions, financings, infrastructure and acquisitions, and dispositions of businesses and assets. He is sought out for his ability to consistently close even the most complicated and fast-paced transactions.

Sergio provides general counsel and transactional advice to a wide variety of clients participating in diverse and often specialized and complex industry sectors including: transportation, hospitality, healthcare, education, and technology.

Executives and entrepreneurs count on Sergio to understand what it takes to keep them at the top of their game. They also rely on him to provide the strategic guidance that only experience working in a business can bring. This allows him to effectively advise on business matters, including those intersecting private business and governments.

Rachel Hutton is a partner in Stikeman Elliott's Real Estate Group. As a leading real estate lawyer, her practice specializes in the most complex and sophisticated real estate transactions serving a wide range of clients. She advises on all real estate matters including commercial, residential and mixed-use development projects, commercial leasing matters, capital project dispositions, and acquisitions. She is also active in the real estate finance and project finance markets, acting for both lenders and borrowers. Rachel has developed considerable expertise on the environmental and regulatory aspects of multiple development projects throughout BC and Western Canada.

Faculty
Sarah Batut — Fasken Martineau DuMoulin LLP, Vancouver
Daniel Byma — Fasken Martineau DuMoulin LLP, Vancouver 
Wil Chan — Dentons Canada LLP, Vancouver
Aneez Devji — Richards Buell Sutton LLP, Vancouver
Dharam Dhillon — Wilson Rasmussen LLP, Surrey
Navnit Duhra — Miller Titerle + Co., Vancouver
Hardeep Gill — Fasken Martineau DuMoulin LLP, Vancouver
Sasha Platz — Miller Titerle + Co., Vancouver
Justin Rektor — Sampson Davie Fane Volpiana LLP, Vancouver
Zheting Su — Thorsteinssons LLP, Vancouver
Shoshanah Webber — Dentons Canada LLP, Vancouver

Click here for full faculty bios

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BC Real Estate Practice Manual

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: June 20, 2022

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 most 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! View a sample from this book!

Highlights of the 2022 Update include:

• proposed federal Underused Housing Tax
• BC Financial Services Authority and Superintendent of Real Estate regulation of real estate licensees
• new tax clauses for real property purchase contract
• residential tenancy legislative amendments

Part 1

Welcome and Land Acknowledgement (9:00 – 9:10)

Teresa Sheward — Program Lawyer, CLEBC, Vancouver
Sergio C. Custodio — Bennett Jones LLP, Vancouver
Rachel V. Hutton — Stikeman Elliott LLP, Vancouver

Statement of Adjustments (9:10 – 9:45)

• purpose
• specific types of adjustments
• tax
• rent
• commissions
• holdbacks

Dharam Dhillon — Wilson Rasmussen LLP, Surrey

Drafting the Purchase Contract (9:45 – 10:25)

• parties and property
• representations
• conditions
• amendments
• assignments

Rachel V. Hutton — Stikeman Elliott LLP, Vancouver

BREAK (10:25 – 10:40)

Commercial Property (10:40 – 11:20)

• who is the seller?
• who is the buyer?
• what is being bought/sold?
• leases
• service contracts and equipment leases
• project documents
• labour and employment
• purchase price
• environmental

Justin Rektor — Sampson Davie Fane Volpiana LLP, Vancouver

Common Income Tax and GST Issues (11:20 – 12:00)

• Income Tax
  • transactional considerations
  • principal residence
  • non-resident vendors and withholding
• Goods and Services Tax
  • when applicable 
  • special considerations

Hardeep Gill — Fasken Martineau DuMoulin LLP, Vancouver

LUNCH BREAK (12:00 – 12:45)

Realty Specific Taxes and PST (12:45 – 1:35)

• Realty Specific Taxes—overview and common issues
  • Property Transfer Tax
  • Foreign Buyers Tax
  • Empty Homes Tax
  • Speculation and Vacancy Tax
  • Underused Housing Tax
  • related considerations
• PST
  • real property contractors
  • fixtures
• key practice points

Zheting Su — Thorsteinssons LLP, Vancouver

Questions & Discussion (1:35 – 2:00)

Sergio C. Custodio — Bennett Jones LLP, Vancouver
Rachel V. Hutton — Stikeman Elliott LLP, Vancouver

Part 2

Welcome and Land Acknowledgement (9:00 – 9:10)

Teresa Sheward — Program Lawyer, CLEBC, Vancouver
Sergio C. Custodio — Bennett Jones LLP, Vancouver
Rachel V. Hutton — Stikeman Elliott LLP, Vancouver

Due Diligence (9:10 – 9:45)

• title review
• types of searches: what to search and why
• material contract and document review
• additional considerations for specific transactions
• title insurance

Navnit Duhra — Miller Titerle + Co., Vancouver
Sasha Platz — Miller Titerle + Co., Vancouver

Closing Procedures (9:45 – 10:20)

• payment of funds
• registration order
• coordination with lenders
• electronic registration

Sarah Batut — Fasken Martineau DuMoulin LLP, Vancouver

BREAK (10:20 – 10:35)

Undertakings (10:35 – 11:00)

• ethical considerations
• nature of undertaking
• general guidelines

Aneez Devji — Richards Buell Sutton LLP, Vancouver

Mortgages (11:00 – 11:30)

• key components of a mortgage
• lender requirements
• due diligence affecting mortgages
• priority issues
• mechanics of funding and registration

Shoshanah Webber — Dentons Canada LLP, Vancouver

Questions & Discussion (11:30 – 11:45)

LUNCH BREAK (11:45 – 12:30)

Regulatory Disclosure and Transparency Requirements (12:30 – 1:10)

• know your client obligations
• handling funds
• Land Owner Transparency Act

Wil Chan — Dentons Canada LLP, Vancouver

The Collapsing Deal: When Things Go Wrong (1:10 – 1:50)

• elections on breach of contract
• tender
• specific performance
• restrictions on dealing with land pending litigation
• damages
• claiming the deposit

Daniel Byma — Fasken Martineau DuMoulin LLP, Vancouver 

Questions & Discussion (1:50 – 2:00)

Sergio C. Custodio — Bennett Jones LLP, Vancouver
Rachel V. Hutton — Stikeman Elliott LLP, Vancouver