Real Estate Law Blog

When are parties permitted to allocate the fair market value for real property for the purpose of remitting property transfer tax? Here is a refresher on the principles of fair market value (FMV) in real property transactions following a recent BC Supreme Court case in which the parties were entitled to allocate FMV to a property at less than the assessed value.

1184369 B.C ...

In a recent decision (Dubas v. The Owners of Strata Plan VR. 92, 2019 BCCA 196), the BC Court of Appeal further clarified the strata wind-up process and intent of the strata wind-up provisions in Part 16 of the Strata Property Act.  In this important decision, the Court of Appeal confirmed that a strata corporation could list its property for sale by way of a simple majority ...

Likely because the application of the law is uncertain, commercial leases generally have detailed clauses dealing with the question of when a piece of equipment or an improvement installed in a premises becomes a fixture or remains a chattel.  The answer matters as fixtures, in law, are considered to be part of the land and, at the end of a lease, ordinarily would revert to the ...