Many land developers arrange to sell lots in a proposed development before the subdivision is completed. The vendor benefits from the promise of confirmed future sales and non-refundable deposits. Purchasers benefit from lower prices for purchasing early. However, what happens if the land development is delayed. Can a purchaser get a non-refundable deposit back?
The ...
In the beginning of 2014, the CRA issued GST/HST Notice No. 284 – Bare Trusts, Nominee Corporations and Joint Ventures announcing that as of January 1, 2015, it will no longer allow joint ventures to elect for a nominee corporation or a bare trustee corporation to be the operator of a joint venture where such nominee or bare trustee does not have an ownership interest in, or ...
By way of Bill 17, the Miscellaneous Statutes Amendment Act, the provincial government adopted several amendments to the Local Government Act on May 29, 2014. These amendments were intended, amongst others, to allow modern land use policies by phasing out any remaining land use contracts[1] and to protect developers by “insulating” in-stream rezoning and ...
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