Industry News & Events

$275,000 Pre-Sale Deposit Forfeited When Purchaser Backs Out
In Chen v. West Georgia Development Limited Partnership, 2017 BCSC 1293, the Supreme Court of British Columbia rejected all arguments put forward by the plaintiff in her claim for the return of a deposit paid to the defendant, a real...
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Bigger is not always better for law firms
There is a trend of law firms consolidating into multinational players, as seen earlier this year when Vancouver’s Bull Housser & Tupper LLP merged with the larger Norton Rose Fulbright.
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City of Vancouver Vacancy Tax
In the fall of 2016, at the request of the City of Vancouver, the Province amended the Vancouver Charter to provide City Council with the authority to impose, by bylaw, an annual vacancy tax on a parcel of “taxable property”.
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Terra Law represents purchaser on the completed sale of the Oakridge Transit Centre lands, one of the largest real estate transactions in BC’s history!
TransLink announces sale of Oakridge Transit Centre lands.
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Don’t Be Frustrated by Pre-Closing Damage!
Maison Development & Construction Ltd. v. Jefferson, 2015 BCSC 1329In a recent decision, the BC Supreme Court dealt with the doctrines of specific performance and frustration, and how they apply to the destruction of buildings prior to closing.
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Lenders and Lending Lawyers – Don’t Get Tripped Up By The “Clog”
Lenders and their lawyers should be aware that the prohibition against “clogs on the equity of redemption” may become an issue in any transaction that includes a mortgage and an associated option to purchase in favour of the mortgage.
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Holding it All Together: Rental Pool Restrictive Covenant Found Valid
Condominium hotels are condominiums first, and hotels second.  Because of that, it is not uncommon for some of the hotel strata lot owners to second-guess the financial arrangement with the hotel manager and attempt to circumvent steep management fees by...
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Title Insurance Gaining a Foothold in B.C.
Title insurance has become much more relevant in British Columbia (“BC”) in recent years. Prior to that, it was customary for lenders and property owners in BC to rely on the protections afforded by the Torrens land title system in...
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NEW AND SIGNIFICANT AMENDMENTS TO REAL ESTATE DEVELOPMENT MARKETING ACT (“REDMA”)
Electronic Delivery of Disclosure StatementsSection 15 was amended to permit a developer to provide disclosure statements, amendments to disclosure statement, phase disclosure statements and consolidated disclosure statements to purchasers by electronic means, but only with the written consent of the...
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COMMERCIAL LEASING CONUNDRUM
Options to renew and options to extend are phrases often used interchangeably by landlords and tenants in commercial leases even though there are material legal differences.
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