15th Annual Residential Real Estate Conference 2022

Course Date: December 6, 2022

Full Course Materials
Total: 6h 2min
Total Ethics: 1h

Welcome and Land Acknowledgement (9:00 – 9:10)

Teresa ShewardProgram Laywer, CLEBC, Vancouver
Timothy J. LackRedpoint Law LLP, Vancouver
Lisa NiroBell Alliance LLP, Vancouver

Case Law Update (9:10 – 9:55)

  • encroachments
  • Time is of the Essence and Waiver
  • removing Certificates of Pending Litigation

Yarden GershonyRush Ihas Hardwick LLP, Kelowna
Stefani LefebvreRush Ihas Hardwick LLP, Kelowna

LTSA Update (9:55 – 10:25)

  • common defects when registering POAs
  • what are requirements for registering short form leases or options to purchase?
  • why doesn't filing an application to deposit plan for a subdivision plan or strata plan trigger a requirement to file a LOTA report at the same time?
  • LOTR update

Larry S. BlaschukRegistrar of Land Titles, Land Title and Survey Authority of BC, New Westminster

BREAK (10:25 – 10:45)

Transactional and Realty Taxes Update (10:45 – 11:30)

  • GST
  • Property Transfer Tax ("PTT")/Foreign Buyer Tax ("FBT")
  • Empty Homes Tax ("EHT")
  • Speculation and Vacancy Tax ("SVT")
  • Underused Housing Tax ("UHT")

Zheting SuThorsteinssons LLP, Vancouver

Collapsing Deals (11:30 – 12:15)

  • common reasons real estate transactions collapse
  • how to handle a collapsing deal as a legal representative; pre-collapse, during, and post-collapse
  • special considerations when handling a collapsing deal
  • remedies for the innocent party and practical considerations
  • timing for closing
  • recent case law update: Sandhu v. Uppal Farms & Greenhouses Ltd.

Andrew R. MorrisonShields Harney LLP, Vancouver
Lisa NiroBell Alliance LLP, Vancouver

LUNCH with Featured Speaker (provided) (12:15 – 1:30)

"Rates, Recession, and the Housing Market" (12:45 – 12:15) 
Bryan Yu Chief Economist, Central 1 Credit Union, Vancouver

Rural and Recreational Real Estate (1:30 – 1:50)

  • differences between a city lot and a piece of rural property 
  • Agricultural Land Reserve and its significance
  • Livestock Act and the Livestock Lien Act provisions
  • the law around fences, water licences, range tenure, Crown grants, grazing leases, easement, dogs
  • tax issues—GST as a potential trap for the unwary

Mary E. MacGregor, KCMary MacGregor Law Corporation, Kamloops
Brett A. SquairDavidson Lawyers LLP, Vernon

Title Insurance (1:50 – 2:15)

Title insurance is available to lenders and borrowers—common examples:

    • surveys (encroachments)
    • strata special assessments, levies not properly disclosed
    • certain charges registered on title
    • certain outstanding work orders

CRA deemed trusts, usually GST (self-employed taxpayer owns the property and does not remit GST):

    • due diligence search that will give clearance
    • deemed trust takes priority over mortgage security if pre-existing GST liability
    • limitation on deemed trust may be up to 10 years: endorsements available to cover CRA trust claims post-discharge of the security

Borrower fraud (identity theft):

    • what due diligence is required on behalf of lawyers to identify fraud?

Title insurers may sue the lender's lawyers by way of subrogated claims:

    • lawyer negligence or participation in the fraud
    • failing to do a lien and judgement search on an advance of funds
    • failing to identify a fraud if certain red flags are up

Policies differ: check exclusions—title insurance is for your client, not for you

Alan Frydenlund, KCOwen Bird Law Corporation, Vancouver

Mortgage Law Update (2:15 – 2:45)

An overview of important practice points and updated case law;
the seminal cases and considered cases on:

    • interest rate "bumps"
    • prepayment penalties
    • protective disbursements
    • super priority liens
    • liability of professionals
    • covenantors
    • corporate borrowers
    • solicitor's duties and obligations

Timothy J. LackRedpoint Law LLP, Vancouver
Jennifer M. Wong Richards Buell Sutton LLP, Vancouver

BREAK (2:45 – 3:00)

Pre-sale Purchases (3:00 – 3:20)

  • what happens when there are delays in the construction start or completion dates of pre-sale residential developments?
  • what lawyers advising both developers and purchasers should be aware of 
  • steps that developers should take when faced with delays
  • remedies available to purchasers under the Real Estate Development Marketing Act 

Edward G. WongEdward G. Wong Law Corporation, Vancouver

Hot Topics Roundtable (3:20 – 4:20)

  • the Federal ban on non-Canadians buying land (?) (residences?) in Canada, starts January 1, 2023
  • provincial legislative initiative to require licensing for all lenders

Timothy J. LackRedpoint Law LLP, Vancouver
Yarden GershonyRush Ihas Hardwick LLP, Kelowna
Stefani Lefebvre
Rush Ihas Hardwick LLP, Kelowna
Lisa Niro
Bell Alliance LLP, Vancouver
Edward G. WongEdward G. Wong Law Corporation, Vancouver
Jennifer M. Wong Richards Buell Sutton LLP, Vancouver

Closing Comments (4:20 – 4:30)

Timothy J. LackRedpoint Law LLP, Vancouver
Lisa NiroBell Alliance LLP, Vancouver