Real Estate | Watson Goepel LLP

16 January 2023

Comprehensive Summary of the Prohibition of Purchase of Residential Property by Non-Canadians Act

By Henry M. Ka

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:…

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27 July 2022

New Homebuyer Protection: 3-day Right of Rescission

By Anand Athiviraham

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…

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14 June 2019

Developers and stratas take note: Strata corps may not have to pay for shared facilities

By Ryan R. Lee

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…

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25 June 2018

Land Owner Transparency Act White Paper

By Jeremy West

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…

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