Real Estate Fundamentals for Lawyers


Course Date: March 03, 2016

Total: 10h 26min

Day 1: Thursday, March 3, 2016

Welcome and Introduction

Land in British Columbia

  • Torrens system
  • First Nations land
  • defining a parcel
  • the title search
  • exceptions from title
  • strata titles

Brian MacKayDLA Piper (Canada) LLP, Vancouver

Questions & Discussion

Statement of Adjustments

  • purpose
  • specific types:
    • tax
    • rent
    • commissions
    • holdbacks

Damon J. ChisholmMcMillan LLP, Vancouver

Questions & Discussion

Networking Break

Drafting the Purchase Contract

  • parties and property
  • representations
  • conditions

Vanessa F. LundayMcCarthy Tétrault LLP, Vancouver

Questions & Discussion

Commercial Property  

  • who is the seller?
  • who is the buyer?
  • what is being bought/sold?
  • leases
  • service contracts and equipment leases
  • project documents
  • labour and employment
  • purchase price
  • environmental

Neil R.A. DavieBull, Housser & Tupper LLP, Vancouver

Questions & Discussion

Networking Lunch

Tax Issues

  • income tax
    • principal residence
    • non-resident vendors and withholding
  • Property Transfer Tax
  • Goods and Services Tax
  • transition matters under GST as well as PST

Michael Coburn — Fasken Martineau DuMoulin LLP, Vancouver

Questions & Discussion

Due Diligence

  • title review
  • types of searches: what to search and why
  • material contract and document review
  • additional considerations for specific transactions
  • title insurance

Erin K. TaitKoffman Kalef LLP, Vancouver

Questions & Discussion

Networking Break

Practical Tips and Tricks for Small Firm Real Estate Practice

  • professional courtesy
  • know your client rules
  • family transfers
  • fraudulent conveyances
  • staff supervision
  • what is a simple conveyance?
  • independent legal advice
  • Lawyers Assistance Program

Timothy J. LackLunny Atmore LLP, Vancouver

Questions & Discussion

Day 2: Friday, March 4, 2016

Closing Procedures

  • payment of funds
  • registration order
  • coordination with lenders
  • electronic registration

Sarah BatutFasken Martineau DuMoulin LLP, Vancouver

Questions & Discussion

E-Filing

  • document preparation and filing
  • impact on your practice
  • transaction demands vs. Land Title Office requirements

Mike WalkerMiller Thomson LLP, Vancouver

Questions & Discussion

Networking Break

Undertakings

  • ethical considerations
  • nature of undertaking
  • general guidelines

Aneez DevjiRichards Buell Sutton LLP, Vancouver

Questions & Discussion

Mortgages

  • key components of a mortgage
  • lender requirements
  • due diligence affecting mortgages
  • priority issues
  • mechanics of funding and registration

Laura SmithFasken Martineau DuMoulin LLP, Vancouver

Questions & Discussion

Networking Lunch

Top Mistakes That Cause Claims and Tips to Avoid Claims

  • when to contact LIF
  • types of mistakes leading to insurance claims 
  • practice points to help avoid and defend claims

Marlon T. SongThe Lawyers Insurance Fund, Vancouver

Questions & Discussion

Networking Break

The Collapsing Deal: When Things Go Wrong

  • elections on breach of contract
  • tender
  • specific performance
  • claiming the deposit
  • damages
  • restrictions on dealing with land pending litigation

Lisa MartzGudmundseth Mickelson LLP, Vancouver

Questions & Discussion

Hot Topics Panel

  • what are party wall agreements?
  • recent REDMA updates
  • PTT exemption tips and pitfalls
  • what are some of the key items to know about residential strata presales?
  • how do leasehold stratas differ from fee simple stratas?
  • is there really a difference between a covenantor and a guarantor?
  • how do you give Section 28 Notices, and when?
  • what is the priority of a CPL vs. other charges?
  • what are the real rules surrounding “shadow flipping”?

Sergio C. Custodio — Fasken Martineau DuMoulin LLP, Vancouver
Timothy J. LackLunny Atmore LLP, Vancouver
Craig W. Shirreff — McCarthy Tétrault LLP, Vancouver