Real Estate Fundamentals 2024

Course Chair
Sergio C. Custodio — Bennett Jones LLP, Vancouver

About the Course Chair
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.

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
Zheting Su — Thorsteinssons LLP, Vancouver
Sasha Platz — Miller Titerle + Co., 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: April 1, 2024

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 2024 Update include:

• short-term rental accommodations legislation
• repeal of remote affidavit witnessing for land title applications
• electronic execution of closing documents
• filing new transparency declarations and reports
• Surveyor of Taxes filing transparency declaration
• new trust reporting requirements on T3 return, purchase contract provisions for investment and interest reporting
• EV charging in strata, electrical planning reports
• new strata Form B requirements
• proposed legislation for First Nations acquiring, disposing of land, LTO registration
• proposed BC home flipping tax
• PTT relief, enhanced GST rebate for qualifying purpose-built rental housing
• 2023 tax year reprieve from bare trusts tax filing requirements

Day 1: Thursday, October 10, 2024

Course Introduction and Land Acknowledgement (9:00 – 9:10)

Teresa Sheward — Program Lawyer, CLEBC, Vancouver
Sergio C. Custodio — Bennett Jones 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

Speaker TBA

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

Speaker TBA

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 (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
• key practice points

Zheting Su — Thorsteinssons LLP, Vancouver

Questions & Discussion (1:35 – 2:00)

Day 2: Thursday, October 11, 2024

Course Introduction and Land Acknowledgement (9:00 – 9:10)

Teresa Sheward — Program Lawyer, CLEBC, Vancouver
Sergio C. Custodio — Bennett Jones 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 (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)