News & Analysis as of

Real Estate Transactions Canada

Dickinson Wright

Court of Appeal Decides Fate of “Crypto King” $500,000 Deposit

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In 2021, the self-proclaimed “Crypto King,” along with an associate, paid a $500,000 deposit to purchase a commercial real estate property to store their exotic car collection. The “Crypto King,” Aiden Pleterski, had...more

Bennett Jones LLP

Open Your Wallets Wider! Increases to Alberta Land Transfer and Mortgage Registration Fees Coming October 20, 2024

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On September 27, 2024, the Government of Alberta announced that the fee increases foreshadowed in their spring budget will take effect on October 20, 2024, when the amendments to the Land Titles Act and the Tariff of Fees...more

Bennett Jones LLP

The Battle of Bona Fides: The Doctrine of Indefeasibility Revisited

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When it comes to registered title, we take comfort in it being right—its record, indefeasible. The land titles registry is the root of our confidence in the state of title. Registered instruments are, by virtue of their being...more

Bennett Jones LLP

Top Five Things to Know About Proptech in Canada

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We are in the midst of a digital transformation of all aspects of the real estate industry, including development, marketing, transactions, financing and management. The convergence of property and technology, known as...more

Bennett Jones LLP

The Double Default Rule in Real Estate Transactions

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"We're ready, willing and able to close. Are you?" These are familiar words to those who buy and sell real estate. They embody the notion that, on the time appointed for the closing of the transaction, a party is ready to...more

Bennett Jones LLP

British Columbia Introduces the Flipping Tax—What is it and Why Should You be Aware?

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What is the Flipping Tax and Why is it Important? The B.C. government announced in its 2024 budget a plan to introduce a tax (the Flipping Tax) on income earned from the sale of a property within 730 days of acquisition....more

Bennett Jones LLP

Killing the Deal (Anticipatory Repudiation in a Real Estate Purchase)

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Once an agreement of purchase and sale for real estate is signed, the path to closing and the rules of closing are firmly engrained, both in the terms of the contract and in principles of law and equity. You don’t get to...more

Stikeman Elliott LLP

Practical Law: Commercial Real Estate in Canada

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Common Entity Types - Legal persons (such as corporations) and natural persons can generally hold rights over real property in Canada. Investment in real estate can be made through direct ownership by an individual or...more

Bennett Jones LLP

Stay Off the Slippery and Precarious Slope when Time is of the Essence

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"Better three hours too soon than a minute too late" wrote William Shakespeare in The Merry Wives of Windsor—a line that would have fit well in the judgement of the Ontario Court of Appeal in its recent decision in 3 Gill...more

Bennett Jones LLP

A Failed Real Estate Deal—What's the Damage?

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The Rosseau Group Inc. (Rosseau) was a real estate developer. Rosseau entered into an agreement of purchase and sale with 2528061 Ontario Inc. to buy land for development purposes. Once the land had been rezoned and...more

Stikeman Elliott LLP

Real Estate 2024 Canada

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Real Estate Law- 1.1 Please briefly describe the main laws that govern real estate in your jurisdiction. Laws relating to leases of business premises should be listed in response to question 10.1. Those relating to...more

International Lawyers Network

Buying and Selling Real Estate in Canada - Québec (Updated)

KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER CANADIAN (QUÉBEC) LAW - Unlike the other Canadian provinces and territories, which are all common law jurisdictions, Québec is a civil law jurisdiction. It is governed by the...more

International Lawyers Network

Buying and Selling Real Estate in Canada - Ontario (Updated)

KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER CANADIAN (ONTARIO) LAW - INTRODUCTION - Canada, a bijural country, utilizes both common and civil law. Except for Québec, a civil law jurisdiction, the common law operates...more

Bennett Jones LLP

Enforcing Unwritten Real Estate Purchase Agreements

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It's generally accepted good law that, in order to create a valid contract for the purchase and sale of real property, the agreed-upon terms must include, at a minimum, the identity of the parties, the description of the...more

Stikeman Elliott LLP

Important Amendments to Regulations under the Prohibition on the Purchase of Residential Property by Non-Canadians Act

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On March 27, 2023, the Federal Government of Canada announced Regulations Amending the Prohibition on the Purchase of Residential Property by Non-Canadians Regulations (together “the Amended Regulations”) which come into...more

Stikeman Elliott LLP

Regulations Amending the Ability of Foreign Workers to Buy Residential Property in Canada

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On March 27, 2023, the Federal Government of Canada announced amendments to the Regulations accompanying the Prohibition on the Purchase of Residential Property by Non-Canadians Act (together “the Amended Regulations”) which...more

Miller Canfield

Canada’s Foreign Buyers Ban: What You Should Know About the Ban on Non-Canadians Purchasing Residential Property in Canada

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The government of Canada recently passed legislation that effectively bans non-Canadian individuals and corporations from purchasing residential real estate under the Prohibition of Purchase of Residential Real Estate by...more

International Lawyers Network

Buying and Selling Real Estate in Canada - Québec (Updated)

KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER CANADIAN (QUÉBEC) LAW - Unlike the other Canadian provinces and territories, which are all common law jurisdictions, Québec is a civil law jurisdiction. It is governed by the...more

Stikeman Elliott LLP

The Impact of Canada’s Two-Year Prohibition on Foreign Purchases of Residential Property on Foreign Workers and Global Mobility

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On January 1, 2023, the Prohibition on the Purchase of Residential Property by Non-Canadians Act and its accompanying Regulations (together, “the Act”) came into force. Subject to a number of exceptions, the Act prohibits...more

International Lawyers Network

Buying and Selling Real Estate in Canada - Ontario (Updated)

KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER CANADIAN (ONTARIO) LAW - Canada, a bijural country, utilizes both common and civil law. Except for Québec, a civil law jurisdiction, the common law operates in all remaining...more

Stikeman Elliott LLP

Canada’s Two-Year Prohibition on Foreign Purchases of Residential Property: What You Need to Know

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In response to rising housing prices, Parliament passed the Prohibition on the purchase of residential property by non-Canadians Act (the “Act”) in 2022. Intended to be in effect during the calendar years 2023 and 2024 only,...more

Bennett Jones LLP

New Rules for Foreign Home Buyers in Canada Now In Force: Here's What You Need to Know

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On December 2, 2022, the Privy Council passed an Order in Council confirming regulations related to the Prohibition on the Purchase of Residential Property by Non-Canadians Act (the Act). The Prohibition on the Purchase of...more

Bennett Jones LLP

Canada's Ban on Foreign Home Buyers Soon In Effect: Update and What's Next

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Key Highlights - - Prohibition on the Purchase of Residential Property by Non-Canadians Act comes into force on January 1, 2023. - Impact of the Act will be clearer once the federal government releases draft...more

Wiley Rein LLP

CFIUS Finalizes Rule on “Excepted Foreign State” Definition and Announces Determinations Related to Australia, Canada, and New...

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The U.S. Department of the Treasury (Treasury), which chairs the Committee on Foreign Investment in the United States (CFIUS or the Committee), recently announced several actions pertaining to its mandate under the Foreign...more

International Lawyers Network

Buying and Selling Real Estate in Canada - Québec (Updated)

KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER CANADIAN (QUÉBEC) LAW - Unlike the other Canadian provinces and territories, which are all common law jurisdictions, Québec is a civil law jurisdiction. It is governed by the...more

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