Real Estate Law Blog

In an effort to slow a then-frothy residential real estate market, the Province adopted amendments to the Property Law Act on April 25, 2022 to establish a new homebuyer rescission regime in B.C. These amendments provide buyers of residential real estate with a mandatory “cooling-off period” following execution of a purchase agreement, giving them more time to ...

This blog post highlights certain amendments to British Columbia’s Real Estate Development Marketing Act (“REDMA”) Policy Statements 5 and 6 which came into effect May 1, 2021.

Policy Statement 5 sets out circumstances under which a developer is deemed to have permission to begin early marketing of a real estate development before a building permit is issued for the ...

The Province has announced new regulations pursuant to the Real Estate Services Act (“RESA”) that impose new duties on licensed B.C. real estate agents effective May 16, 2016, that will restrict the assignment of contracts of purchase and sale of real estate.  The Regulations are intended to cool the overheated real estate market and reduce the number of contracts being ...

REDMA came into force on January 1, 2005 and we have now had almost a decade in working under REDMA and the Policy Statements issued by the Superintendent of Real Estate (“SoRE”).  In the spring the BC Government introduced Bill 17 to the Legislature, the Miscellaneous Statutes Amendment Act, 2014, which provided a number of refinements to REDMA that will assist ...