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The Lay of the Land

DEVELOPMENTS IN CANADIAN REAL PROPERTY LAW

Tripartite Agreements – Three is Company

Posted in Policy
D. James Papadimitriou

Direct agreements or tripartite agreements are often an important feature of financings involving ground leases or single tenants, as well as in project finance. –> Read More

The Anti-Avoidance Blues: Does a Foreigner’s Title Nominee Share Purchase Constitute an “Avoidance Transaction”?

Posted in Property Tax Assessment
Craig Shirreff

On August 2, 2016, the Province of British Columbia enacted amendments to the Property Transfer Tax Act (British Columbia) (the “Act”) which introduced a new 15% property transfer tax (colloquially referred to as the “foreign buyer tax”).  This tax currently applies when a foreign national or foreign corporation purchases residential property situated in the GVRD.  The amendments also include a new anti-avoidance rule applicable to the foreign buyer tax only.  This rule has yet to be considered by a Court, but on its face it may affect the ability of a foreign national or foreign corporation to safely avail itself of a routine feature in many purchase and sale transactions in British Columbia: the purchase of a title nominee’s shares. –> Read More

Commercial Condo Purchaser Tips

Posted in Commercial, Residential
D. James Papadimitriou

With the continued exponential growth in mixed use developments which often take the form of separate components subject to condo declarations and in many cases multiple condo declarations as between the residential and commercial components, buyers and mortgage lenders will consider additional factors during their due diligence and as part of future management of the various components. –> Read More

Sale Lease Back Musings

Posted in Commercial
D. James Papadimitriou

As many companies, particularly r‎etailers, seek to monetize assets or at least leverage valuable real estate assets, we are witnessing increased popularity of sale leaseback transactions. –> Read More

How the Forfeited Corporate Property Act, 2015 Affects Ontario Corporations and Not-for-profit Corporations

Posted in Land Use, Policy
Shanon GrauerElaine BuzzellNicole Rumble

On December 10, 2016, the Forfeited Corporate Property Act, 2015 (the “FCPA”) came into force in Ontario. This statute addresses what happens to property that is not distributed by an Ontario corporation prior to its dissolution.  It also amends the Business Corporations Act (Ontario) (the “OBCA”) and the Corporations Act (Ontario) (the “OCA”) to include a requirement for corporations to maintain a register of ownership interests in land in Ontario. Corresponding amendments were also made to the Not-for-Profit Corporations Act (Ontario) (the “ONCA”), which has not yet come into force. –> Read More

Licences and Easements – A Distinction with a Big Difference

Posted in Municipal, Residential
Bram Costin

Licenses and easements are not the same thing! Depending on the rights you wish to convey, there is an important distinction between the two, which was recently highlighted in an Ontario Court of Appeal case.[1]  The Court was faced with a neighbouring property owners’ fight concerning a waterline.  –> Read More

Introduction to the Fair Housing Plan: Ontario

Posted in Policy, Residential
Christine Wong

Ontario has introduced the Fair Housing Plan which includes some measures that will have an immediate effect such as a rent control expansion, a new standardized lease and a new 15 percent Non-Resident Speculation Tax should the legislation be passed. –> Read More

Setting the Bar: Further Sections of the BC Building Act Set to Come into Force

Posted in Construction, Municipal, Policy
Aidan CameronGordon LambJoy Ren

The BC Government has announced that the next round of provisions in British Columbia’s new Building Act, 2015 SBC, c. 2 (the “Act”) are set to come into force on February 28, 2017. –> Read More

Not So Common Knowledge: BC Supreme Court Clarifies Process for Enforcing Liens against Common Property

Posted in Construction, Litigation, Residential
Aidan CameronGordon Lamb

A recent BC Supreme Court decision has clarified the parties that must be named in an action to enforce a builders lien involving common property. –> Read More

I Need To Do What? New Rules On Record Keeping For Ontario Corporations Owning Land

Posted in Commercial, Land Use, Policy
Bram Costin

 

In conjunction with the enactment on December 10, 2016 of the Forfeited Corporate Property Act on December 10, 2016, the Ontario government has amended the Business Corporations Act to require all corporations to maintain at its registered office a register of its ownership interests in land –> Read More