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CAUTION

The Professional Legal Training Course provides the Practice Material to users as an aid to developing entry level competence, with the understanding that neither the contributors nor the Professional Legal Training Course are providing legal or other professional advice.

Practice Material users must exercise their professional judgment about the accuracy, utility and applicability of the material. In addition, the users must refer to the relevant legislation, case law, administrative guidelines, rules, and other primary sources.

Forms and precedents are provided throughout the Practice Material. The users also must consider carefully their applicability to the client's circumstances and their consistency with the client's instructions.

The Law Society of British Columbia and the Professional Legal Training Course can accept no responsibility for any errors or omissions in the Practice Material and expressly disclaim such responsibility.

Professional Legal Training Course 2020

Practice Material

Real Estate

Recent Contributors: Dick Chan Tony Magre Greg Umbach Edward L. Wilson The Land Title and Survey Authority of BC

Practice Material Editor: Katie McConchie May 2020

A requirement for admission to the bar of British Columbia, the Professional Legal Training Course is supported by grants from the Law Society of British Columbia and the Law Foundation of British Columbia. ? 2020 The Law Society of British Columbia. See lawsociety.bc.ca > Terms of use.

REAL ESTATE

CONTENTS

INTRODUCTION

[?1.01] Role of the Lawyer

1

1. Buyer's Lawyer

1

2. Seller's Lawyer

2

[?1.02] Role of Non-lawyers

2

[?1.03] Statutes Governing Land Ownership in British Columbia

3

1. Land Title Act

3

2. Land Act

4

3. Strata Property Act

4

[?1.04] Other Statutes and Rules Relevant to Ownership

5

1. Property Law Act

5

2. Family Law Act

5

3. Fraudulent Conveyance Act, Fraudulent Preference Act, and the BC Code

6

[?1.05] Indigenous Land Claims and Interests in Reserve Lands

7

1. Background to Indigenous Land Claims

7

2. Indian Act and Indian Land Registry

8

3. First Nations Land Management Act

10

4. Self-Governing Band-Adopted Registry System

10

5. Fee Simple by Treaty

10

[?1.06] Further Reading

12

1. Practice Manuals

12

2. Texts

12

PURCHASE AGREEMENTS

[?2.01] Introduction

13

1. Nature and Origin of the Purchase Contract

13

2. Initial Review of the Purchase Contract

13

[?2.02] Is the Purchase Contract Binding?

14

1. Offer and Acceptance

14

2. Amendments

14

3. Certainty on Essential Terms

15

[?2.03] The Main Elements of the Standard Contract of Purchase and Sale

18

1. Description of Parties

18

2. Description of Property

19

3. Price

20

4. Deposit

20

5. Completion Date

20

6. Possession Date

21

7. Adjustment Date

21

8. Included Items and Viewed

21

9. Title Free and Clear

22

10. Closing Procedure

23

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