This is an unusually long blog-post on a tricky area of Builders’ Lien law in Alberta. The first part of this post provides a quick Q&A for lenders/mortgagees; the second part deals with the underlying substantive legal considerations when advancing in the face of a lien.… Continue Reading
On May 6, 2014 amendments to Alberta’s Condominium Property Act were introduced into the Alberta Legislature. The Act establishes the framework for the development, sale, and governance of both residential and commercial condominiums located in Alberta and outlines the duties and responsibilities of developers, owners, buyers and boards. The proposed amendments are designed to bring the Act, originally introduced in the 1960s, more in-line with the modern realities of Alberta’s growing condominium industry – currently, there are more than 8,000 condominium corporations registered in Alberta and condominiums account for over 20% of homes sold annually in Alberta.
More than 50 … Continue Reading
Building on Michael’s post from last week, another issue facing foreign investors in the Canadian real estate market are restrictions on the acquisition and ownership of land in the Prairie Provinces.
Alberta’s Foreign Ownership of Land Regulations (the “Regulations”) restrict foreign acquisition of interests in mainly rural land by the establishment of a scheme of controlled and uncontrolled land. Controlled land typically refers to farm land and ranches – the Regulations provide that controlled land means land in Alberta, excluding Crown land, land within the boundaries of a city, town, new town, village or summer village, and … Continue Reading