Residential Real Estate Conference 2012


Course Date: December 11, 2012

Total: 5h 58min

Welcome and Introduction

Mary-Jane Wilson — Wilson Rasmussen LLP, Surrey

Case Law Update

  • Tang v. Zhang (2012): regarding whether a deposit paid is forfeited absent proof of damages—not a pre-sale case
  • Mazarei v. Icon Omega Developments Ltd. (2012): pre-sale case regarding definition of marketing and constitutional reach of REDMA
  • Woo v. ONNI Ioco Road Development Limited Partnership (2012): pre-sale case regarding extent of rescission rights of purchasers
  • 299 Burrard Residential Limited Partnership v. Essalat (2012): pre-sale case regarding extent of error permitted in construction dates and applicability of SCC decision in Sharbern, which was decided under the Real Estate Act
  • Bosa Properties (Esprit 2) Inc. v. Kim (2012): pre-sale case regarding the limitations on “material facts”

Bryan G. Baynham, QC — Harper Grey LLP, Vancouver
Wesley J. McMillan — Harper Grey LLP, Vancouver

“The Bad Cheque Scam and Other Frauds”

Fraudsters try to trick lawyers into depositing a fake certified cheque into trust and then paying good funds out of trust, leaving the lawyer’s trust account short, overdrawn, or both. Learn about:

  • the ruses scamsters use to target real estate practitioners
  • the steps you can take to protect yourself
  • the coverage available under the compulsory insurance policy if you do get caught
  • how to recognize and manage the risk of becoming an unwitting pawn in identity and other real estate frauds
       
    Barbara K. Buchanan — Practice Advisor, Ethics & Conduct, Law Society of British Columbia, Vancouver
    Margrett M.S. George — Lawyers Insurance Fund, Law Society of British Columbia, Vancouver
    Surindar S. Nijjar — Lawyers Insurance Fund, Law Society of British Columbia, Vancouver

Networking Break

Transition Out of the HST

  • impact of the end of the HST on residential construction and sales
  • transitional rules and new BC transition tax
  • rebates

Terry G. Barnett — Thorsteinssons LLP, Vancouver & Toronto

Questions and Discussion

Lunch With Featured Speaker: “Economic Outlook: BC Holding Up Amid Global Headwinds”

Ken Peacock — Chief Economist and Vice President, Business Council of British Columbia, Vancouver

Foreclosures

  • schedule “A” to foreclosure sale agreements
  • strata priorities, undertakings, and mechanics of payment
  • shortfall sales

Lindsay D. Goldberg — McMillan LLP, Vancouver

Conveyance of Leasehold Interests in First Nation Lands

  • land regimes applicable to First Nation lands
  • understanding the Indian Lands Registry and the effects of registration
  • practice points

Jean Yuen — Boughton Law Corporation, Vancouver

Buying land in US—Tax Issues

Canadians interested in investing in residential real estate in the US are tempted by low property prices, strong dollar parity, and low interest rates. However, they need to be aware of:

  • tax procedures on income and capital gains
  • implications of passing away with a US real property interest
  • protection from creditors in the US

Jonah Spiegelman — Altro & Associates, Vancouver

Break

Leasehold Assignment Properties: City of Vancouver/UBC/SFU

  • documentation and detailing of assignments
  • timing and contact information
  • tripartite agreements
  • co-development properties

Randall E. Cobbett — Cobbett & Cotton, Burnaby

Strata Depreciation Reports

  • the new Strata Property Act requirements for depreciation reports
  • who is qualified to prepare them?
  • how do you waive the requirements? should they be waived?
  • different perspectives—strata owners, strata corporations, strata managers, developers, and lenders
  • what if the news is bad? really bad?

  Edward L. Wilson — Lawson Lundell LLP, Vancouver

When a Notary Is On The Other Side: What Real Estate Lawyers Need to Know About BC Notaries

BC lawyers and notaries have worked together on real estate transactions since the beginnings of our BC land systems—for over 151 years. This session will provide information for lawyers in regard to notary undertakings, insurance, and professional standards as they apply to real estate transactions.

Ronald R. Usher — General Counsel, The Society of Notaries Public of BC, Vancouver

Questions and Discussion