16 January 2023
On January 1, 2023, the Prohibition on the Purchase of Residential Property by Non-Canadians Act (the “Act”) came into force. Under section 4(1) of the Act, non-Canadians will be prohibited from purchased any residential property in Canada. Defining The Meaning Of “Residential Property” The term “Residential Property” is defined section 2 of the Act as:…
27 July 2022
On July 21, 2022, the Government of British Columbia announced the creation of regulations that will enable a mandatory three-day Homebuyer Protection Period (“HPP”), also known as a “cooling off period” or “right of rescission” starting on January 1, 2023. The new regulations can be implemented directly by the government due to previously passed amendments…
11 April 2022
In recent weeks, we have seen a flurry of activity by both Provincial and Federal Governments aiming to cool down the red-hot housing market in Canada. On April 7, 2022, Prime Minister Justin Trudeau announced in his federal budget that he will be imposing a two-year ban on home purchases by foreign nationals. While precise…
24 July 2019
The purchase and sale of real estate is often one of the most significant transactions that an individual may undertake. Unfortunately, while realtors, building inspectors, mortgage brokers and other real estate professionals are regularly consulted at an early stage, legal advice is typically not sought until after a binding contract is in place, and often…
14 June 2019
It is common practice for developers of strata properties to enter into easement agreements granting future strata owners access to shared facilities before the stratas are actually incorporated. These agreements allow developers to structure future cost-sharing arrangements of strata projects at the early stages of a development. However, developers and strata corporations should be aware…
25 June 2018
Homes for BC: A 30-Point Plan for Housing Affordability in British Columbia was a centerpiece of the 2018 BC Provincial budget and is described as a comprehensive plan to address the housing crisis including new measures to tackle foreign and domestic speculation, close real estate and tax loopholes, protect renters, crack down on tax fraud…
2 June 2018
Landlords and tenants should make note of several significant changes to the Residential Tenancy Act which went into effect on May 17, 2018. Landlords who don’t follow the new rules could be liable to pay tenants up to 12 months’ rent. If a landlord wishes to end a tenancy to permit the landlord or a…
