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62014.06This paper provides a discussion of current issues in closing residential real estate transactions from a practitioner’s point of view. Issues addressed include compliance with the Dower Act, use of Western Torrens Protocol, and why and when a buyer may want to obtain Title Insurance. In addition, suggestions for avoiding or resolving closing-related problems are provided. Included with the paper is a sample dower release, a sample order dispensing with dower in a divorce, a sample affidavit dispensing with dower for an incapacitated spouse, and a sample affidavit dispensing with dower when divorce is not final.This paper is part of a collection presented at LESA’s 6th Annual Law & Practice Update program in Calgary on October 14 & 15, 2016.
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61996.16The purpose of the Foreign Ownership of Land Regulation, Alta Reg 160/1979, is to observe and control the amount of agricultural and recreational farm land acquired by non-Canadians. The Foreign Ownership of Land Regulation has only been discussed in passing in a handful of cases. As such, it can be difficult to navigate in practice. This paper provides an overview of the Foreign Ownership of Land Regulation and how it relates to the practical application of real estate transactions in Alberta. The author discusses a variety of issues, including controlled lands and persons affected, corporate entities and disclosure requirements, the process for reporting acquisitions and dispositions, penalties, exemptions, and foreign land ownership restrictions in other provinces. Furthermore, the author provides practice tips throughout the paper. This paper is part of a collection presented at LESA’s 49th Annual Refresher: Real Estate from April 24 - 26, 2016.
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61996.13Real estate transactions involving farm land can give rise to unique tax considerations and planning opportunities. In this paper, the author provides an in-depth discussion of some of these considerations and opportunities within the context of: (a) using the capital gains exemption in farm land transactions; (b) using intergenerational rollover provisions in farm land transactions (c) issues and opportunities relating to principal residencies on the home quarter; and (d) change in use from farm land to development land inventory. This paper is part of a collection presented at LESA’s 49th Annual Refresher: Real Estate from April 24 - 26, 2016.
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61996.12This paper focuses on two key discussions relating to managing real estate transactions in Canada:
- Sale of Canadian real property by a non-resident vendor creates a potential tax obligation to Canada. In this first part, the author discusses non-resident vendors and the reporting requirements.
- Generally, all supplies of real property in Canada are taxable. The second part of this paper provides an overview of basic principles of GST and real estate transactions and discusses some intricacies associated with different types of property.
In addition, the author discusses special tax deferral opportunities on the disposition of real estate.This paper is part of a collection presented at LESA’s 49th Annual Refresher: Real Estate from April 24 - 26, 2016. -
61996.10There is often a disconnect between real estate lawyers and their clients. It seems that, although lawyers generally do good work for their clients, clients often do not know what their lawyers are actually doing or may expect something else. This paper offers tips and advice as to how real estate lawyers can approach their work and adapt their practice to ensure lawyer/client expectations are better aligned. This paper is part of a collection presented at LESA’s 49th Annual Refresher: Real Estate from April 24 - 26, 2016.
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61996.09Mortgage financing is inextricable from real estate practice and matters that come within the purview of a real estate lawyer’s role in working with lenders evolve with the times. With new issues and an increase in varied lenders entering the Alberta marketplace, greater efforts must be taken to avoid potential problems. This paper presents a thorough analysis of potential issues that may arise in financed real estate transactions. The author discusses solutions and suggests implementation of specific procedural safeguards to avoid such issues. In particular, topics discussed include receiving and reviewing mortgage instructions, communication with the lender, dealing with difficult or impossible instructions, executing mortgage documents, and being conscious of mortgage fraud, among others. This paper is part of a collection presented at LESA’s 49th Annual Refresher: Real Estate from April 24 - 26, 2016.
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61996.08Lawyers are tasked with the important roles of being effective advocates for their clients and serving the public’s interest. In fulfilling these roles, lawyers face considerable stress. Conflict with another lawyer on the opposing side of a file can add unnecessary stress, thereby negatively impacting the lawyer’s effectiveness and personal health. This paper briefly touches on important rules governing lawyer to lawyer relations in the Code of Conduct and provides clear strategies for creating better lawyer to lawyer relationships. In addition, the author explains trust conditions and undertakings and how to properly utilize and qualify them through laying out clear rules. Furthermore, this paper discusses how to go about reporting breaches of conduct, undertakings, or trust conditions. Sample undertakings that could be used as precedents are provided at the conclusion of the paper. This paper is part of a collection presented at LESA’s 49th Annual Refresher: Real Estate program from April 24 - 26, 2016.
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61996.07This paper is divided into two separate topics: adverse possession and specific performance. The author addresses both topics by providing an in-depth analysis of the theoretical basis, evolution of the law, and possibilities for law reform with respect to each topic. The paper demonstrates the application of the law relating to adverse possession by referring to cases and discussing topics such as adverse possession as against co-owners and with respect to Federal Crown land, Provincial Crown land, private land, Indian reserve land, and navigable bodies of water. The author refers to case law involving specific performance as well, and discusses the following topics as they relate to specific performance: dower rights, right of first refusal, school zones, cookie-cutter housing, low budget renovations, and adjacent land. This paper is part of a collection presented at LESA’s 49th Annual Refresher: Real Estate program from April 24 - 26, 2016.
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61996.06Transactions related to agricultural land, recreational land, acreages, and municipal lots in smaller centres may present interesting legal questions. This paper discusses some of the peculiarities of rural real estate law and focuses on the practical side of encumbrances and land issues that may be unusual. Among the various encumbrances and issues discussed are surface leases, gross royalty trust agreements, water well agreements, farm leases, title insurance, and foreign ownership of land, among others. Appended to this paper are two legal form precedents: an assignment and transfer of compensation for surface lease agreements and a water well agreement. Also included is a report from the Committee on the Issues of Air Conditioning Units and Window Wells on Real Property Reports for Real Properties in the City of Calgary. This paper is part of a collection presented at LESA’s 49th Annual Refresher: Real Estate program from April 24 - 26, 2016.
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61996.05The effective use of title insurance by lawyers requires a basic understanding of the coverage, both its benefits and limitations. The use of title insurance in a lawyer’s practice allows for timely closing of real estate transactions, facilitates solutions to issues preventing closing, saves costs, and provides insured homeowners, property owners, and lenders with comprehensive coverage against hidden risks affecting title to real property. This paper provides an overview of the operation of title insurance and of how title claim issues are resolved. It addresses key areas of knowledge that all lawyers who use title insurance in Alberta should possess, including a discussion on the basics of title insurance, what is covered, and various claims examples.In addition, a sample residential policy and sample residential lender policy are included for reference.This paper is part of a collection presented at LESA’s 49th Annual Refresher: Real Estate program from April 24 - 26, 2016.
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61996.04The purchaser in a condominium transaction often has many technical questions about condominium law. For lawyers who do not regularly work with condominium transactions, this paper provides answers to common issues for clients, including such questions as: Can my condo fees be changed? Can I be evicted as an owner? Can I rent my condominium? Can the corporation recover against me for the insurance deductible in a water loss? Can I smoke in my unit even if the bylaws prohibit it? In addressing common questions, this paper also examines current, relevant case law for condominium transactions. This paper is part of a collection presented at LESA’s 49th Annual Refresher: Real Estate program from April 24 - 26, 2016.
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61996.03The purchaser of a condominium unit is buying an interest in both the real estate and the condominium corporation. Therefore, a lawyer acting for such a purchaser must be vigilant in reviewing, at a minimum, the condominium corporation documents in addition to the real estate aspects of the purchase and finance. This paper concisely and thoroughly discusses ten key considerations lawyers should be mindful of when they act for purchasers of condominium units, including financial statements and budgets, reserve fund studies, real property reports, estoppel certificates, bylaws, among other things. This paper is part of a collection presented at LESA’s 49th Annual Refresher: Real Estate program from April 24 - 26, 2016.
