Changes to Strata Property Act pave the way for strata redevelopm...

October 8, 2015

Final Update: The changes were made effective on July 29, 2016. Further Update: There were slight revisions made to Bill 40 at Third Reading.  It received Royal Assent on November 17, but for the most part is not yet in force. Commencement will be effected by regulation, which does not […]

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REDMA Regulations and Policy Statements Amended

September 12, 2014

As discussed in our previous article titled “Bill 17: New Amendments to REDMA”, the Real Estate Development Marketing Act (“REDMA“) was amended on May 29, 2014 by Bill 17. Following this amendment, both the regulations to REDMA and the policy statements promulgated under REDMA were amended. Amended Regulations Effective September […]

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Bill 17: New Amendments to REDMA

June 2, 2014

The real estate market in British Columbia has long been a driver of our province’s economy. Due in part to increases in real estate prices over the last several decades, investors and home–buyers alike have flocked to this market to purchase property. In an attempt to more heavily regulate the […]

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The Ebbs and Flows of Pre-Sale Litigation

June 18, 2012

In an article published in July, 2011 – The Tide May Be Turning on Pre-Sale Litigation – we discussed several important decisions by the Supreme Court of Canada, B.C. Court of Appeal, and B.C. Supreme Court, which indicated that courts were starting to apply less technical and more common sense approach to REDMA. Recognizing that REDMA should […]

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Pre-sale litigation – where are we at?

January 4, 2011

The past few years have seen a number of purchasers trying to avoid their obligations under pre-sale contracts as they discover that the market value at closing might be significantly less than the pre-sale contract price. Many of these cases settle before ever going to court, but enough have made […]

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Amendments to Strata Property Act affect Developers

November 24, 2009

December 10 update: sections 2, 3, 4, 6, 7 (b), 8, 9, 11, 13, 14, 17, 18, 20 to 24, 26, 28, 29, 32, 33 (b), 35 and 36 of the Strata Property Amendment Act have been brought into force. (SeeOrder in Council No. 707). Following consultation with industry organizations and law firms, […]

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Strata Conversions: an Option for Developers in BC

December 5, 2007

When the supply of developable land is tight, opportunities remain for “new” stratified developments. Conversions from previously occupied rental properties to strata lots may be the most suitable option for urban developers looking for opportunities in today’s real estate market. As the vacancy rate for rental housing in B.C. remains […]

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Mixed-Use Developments: Air Space vs. Strata

October 17, 2007

A growing number of developments are combining both commercial and residential space within the same building – there may be grocery stores, restaurants and offices on the lower levels of a building, and several floors of residential apartments directly above them. With this sort of combination, a typical concern is […]

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Pre-Sale Contracts: What Should They Say?

February 24, 2006

“Over 100 units sold in Grand Opening Weekend!” the headline blares. Deposits have been paid, contracts have been signed and 18 months from now the sales will be completed. All kinds of things may happen over the course of those 18 months – interest rates may rise, the market may collapse […]

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Using Purchaser’s Deposits – Lessons from the Past Eight Mont...

December 6, 2005

In our January Feature Article, “Using Purchasers’ Deposits: A windfall for Developers?” we set out what we thought the process would be for developers of multifamily residential projects wishing to access and use purchasers’ deposits to fund project costs, and discussed the possible advantages and disadvantages for those choosing to […]

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