BC Real Estate Practice Manual

A practical day-to-day guide to real estate conveyancing

This publication is essential for: junior to intermediate lawyers in real estate practice, and helpful for seasoned practitioners.

Current to: March 1, 2014

This practical, day-to-day guide leads you quickly and completely through the necessary steps of a conveyance. The manual includes:

• thorough discussion of residential property, including searches and investigations
• summary chapter on commercial property transactions
• special considerations for strata lots
• discussion of lawyers' undertakings and professional responsibility issues
• the latest decisions on duties of real estate licensees
• full coverage of tax considerations for both residential and commercial property
• practical advice and remedies for a collapsing deal

Rounding out this all-in-one resource are more than 130 of the most common real estate forms and precedents, including essential land title office documents.

The book is updated annually. Subscriptions include online access with search capability and links to the full text of case law and legislation, and forms and precedents on CD-ROM.

ONLINE ONLY annual subscriptions are available. Subscribe now.

Highlights of the 2014 Update

• new case law on duties of listing licensees and dual agents; enforcing an assignment against a seller; forfeiture of deposits; vendors’ representations and warranties; misrepresentation in property disclosure statement; applicability of exceptions to indefeasibility; anticipatory breach
• updated information on tax considerations for vendors and purchasers
• federal online registries for First Nations lands
• undertakings under the BC Code
• developer’s disclosure requirement where new strata unit being marketed in BC is located elsewhere
• extension of property transfer tax spousal exemptions to common-law spouses
• new strata property Information Certificate (Form B) requirements regarding parking stalls and storage lockers and inclusion of depreciation reports
• continued removal of mandatory electronic filing exemptions
• LTSA’s Authorized Subscriber Register
• cessation of use of hardcopy Form C Release of mortgage
• new electronic land title form templates
• repeal of Social Service Tax Act
• new statutory limitation periods

CLEBC Legal Editor
L. Joy Tataryn
jtataryn@cle.bc.ca

CONTENTS
________________________________________

Chapters
1. Preliminary Matters
2. Real Estate Licensees
3. The Purchase Contract
4. Tax Considerations
5. Searches and Investigations
6. Commercial Property
7. Title
8. Statements of Adjustments
9. Undertakings
10. Other Closing Documents
11. Closing Procedures
12. The Collapsing Deal: Practical Advice and Remedies

Glossary

Checklists
Client Identification and Verification
Residential Conveyance Procedure
Independent Legal Advice

Forms and Precedents
I. Preliminary Matters
II. Real Estate Licensees
III. The Purchase Contract
IV. Searches and Investigations
V. Title
VI. Statements of Adjustments
VII. Undertakings
VIII. Other Closing Documents
IX. Closing Procedures
X. The Collapsing Deal: Practical Advice and Remedies
XI. Electronic Forms

Tables
Case Table
Statute Table
References

Index

Features

• complete set of forms and precedents
• regular updates
• tables of cases and statutes
• comprehensive index
• glossary
• checklists
• convenient looseleaf format with tab indexing
• online access to electronic version with hyperlinks to primary law

Editorial Board
Douglas E. Bolton — Goodmans LLP, Vancouver
Professor Deborah Curran — Faculty of Law, University of Victoria, Victoria
Randy G. Klarenbach — Richards Buell Sutton LLP, Vancouver
Craig W. Shirreff — McCarthy Tétrault LLP, Vancouver

Authors
Sarah Batut — Fasken Martineau DuMoulin LLP, Vancouver
Damon J. Chisholm — McMillan LLP, Vancouver
Sergio C. Custodio — Fasken Martineau DuMoulin LLP, Vancouver
Jordanna Cytrynbaum — McCarthy Tétrault LLP, Vancouver
Neil R. Davie — Bull, Housser & Tupper LLP, Vancouver
Jessica S. Gossen — Real Estate Council of British Columbia, Vancouver
Gayle Hunter — Blake, Cassels & Graydon LLP, Vancouver
Soraya M. Jamal — Blake, Cassels & Graydon LLP, Vancouver
Christopher J.A. Johnston — Real Estate Errors and Omissions Insurance Corporation, Vancouver
B. Glenn Leung — Terra Law Corporation, Vancouver
Brenda M. Lightbody — Richards Buell Sutton LLP, Vancouver
Gillian Piggott — Terra Law Corporation, Vancouver
Edna M. Ritchie — Lawyers Insurance Fund, Law Society of BC, Vancouver
Mark A. Schmidt — Davis LLP, Vancouver
Wanda Simek — Real Estate Errors and Omissions Insurance Corporation, Vancouver
Scott D. Smythe — McCarthy Tétrault LLP, Vancouver
L. Michael Walker — Miller Thomson LLP, Vancouver
Edward L. Wilson — Lawson Lundell LLP, Vancouver