REAL ESTATE LAWYERS & COVID-19
COVID-19 & REAL ESTATE LAW- WHAT YOU NEED TO KNOW
COVID-19 & REAL ESTATE LAW- WHAT YOU NEED TO KNOW
COVID-19 & REAL ESTATE LAW- WHAT YOU NEED TO KNOW
FOLA has been receiving calls from real estate lawyers wondering what to do about upcoming real estate closings in light of the unprecedented circumstances we are in. Like you, we have been monitoring the situation very closely.
The situation is fluid, with information and protocols changing rapidly. As a result, FOLA has been issuing frequent Real Estate Law updates.
For FOLA's most recent COVID-19 update, click here
For past COVID-19 updates, click here
Notice to Land Registration System
Clients (ENGLISH VERSION FRENCH VERSION)
FOLA's Real Estate Committee letter relative to MCAP’s recent decision to remove lawyers from refinancing matters (March 27, 2020)
Direct link to Lawyers Delayed Closing Escrow Agreement
Working Group site for the Lawyers Delayed Closing Escrow Agreement
HERE ARE SOME TIPS
WILLS & POWERS OF ATTORNEY
COVID-19 & REAL ESTATE LAW- WHAT YOU NEED TO KNOW
COVID-19 & REAL ESTATE LAW- WHAT YOU NEED TO KNOW
On April 7, 2020, the Lieutenant Governor in Council made an order under s. 7.0.2(4), of the Emergency Management and Civil Protection Act permitting virtual witnessing for wills and powers of attorney provided that at least one person who is providing the service as a witness is a licensee pursuant to the Law Society Act.
The Order is not retroactive and will be in place for the duration of the declaration of emergency.
The Order in Council can be found here and on e-Laws, as a regulation under the Emergency Management and Civil Protection Act.
LAW SOCIETY NEWS UPDATES
COVID-19 & REAL ESTATE LAW- WHAT YOU NEED TO KNOW
LAW SOCIETY NEWS UPDATES
NOTICE TO LAWYERS REGARDING WILLS & POWERS OF ATTORNEY
To assist licensees, the Law Society of Ontario is offering a free Continuing Professional Development program, "Your Wills and Estates Practice and the COVID-19 Pandemic: What you Need to Know Right Now." The program is expected to be available on-demand, later this week. Program registration and details will be available at the LSO Store; please watch for updates.
NEWS FROM THE LSO REGARDING AFFIDAVITS
As a result of COVID-19, the LSO will interpret the requirement in s. 9 of the Commissioners for Taking Affidavits Act as not requiring the lawyer/ paralegal to be in the physical presence of the client. Alternative means such as video conference will be permitted.
The LSO has sent a letter to the Federal Finance Minister regarding financial services matters (banking) and the legal profession. While they have asked that the letter not be shared, FOLA wanted to let you know that the LSO is taking action on this issue.
LINKS & VIDEOS
CONSUMER-FRIENDLY VIDEOS
CONSUMER-FRIENDLY VIDEOS
CONSUMER-FRIENDLY VIDEOS
Check out these 5 videos by LawPRO to share with your clients and/or on social media!
USEFUL LINKS
CONSUMER-FRIENDLY VIDEOS
CONSUMER-FRIENDLY VIDEOS
About a dozen links of recommended sites as chosen by FOLA's Real Estate Committee.
Something missing? Let us know! Email Katie.Robinette@fola.ca
PROPOSED REFORMS & SUBMISSIONS
PROPOSED REFORMS FOR COMMISSIONERS/NOTARIES
PROPOSED AMENDMENTS TO THE RULES OF PROFESSIONAL CONDUCT - "LENDING CLIENT"
REGULATIONS UNDER THE PLANNING ACT RE: MUNICIPAL EMPOWERMENT - NORTHERN
FOLA met with Ministry of the Attorney General staff on March 20, 2019 regarding their proposed reforms to the Commissioners for taking Affidavits Act and Notaries Act. (found here).
FOLA'S SUBMISSION TO THE PROPOSED REFORMS
PLEASE NOTE: LAW SOCIETY'S STATEMENT REGARDING VIRTUAL COMMISSIONING
The LSO has published a resource that aims to provide general guidance and information to lawyers and paralegals on the practice of virtual commissioning. Specifically, this resource defines virtual commissioning and briefly explains the governing legislation, identifies the risks associated with it, communicates the Law Society’s recommendation not to engage in virtual commissioning at this time, and discusses the potential for legislative reform in this area.
REGULATIONS UNDER THE PLANNING ACT RE: MUNICIPAL EMPOWERMENT - NORTHERN
PROPOSED AMENDMENTS TO THE RULES OF PROFESSIONAL CONDUCT - "LENDING CLIENT"
REGULATIONS UNDER THE PLANNING ACT RE: MUNICIPAL EMPOWERMENT - NORTHERN
The Ministry of Municipal Affairs and Housing is proposing to amend regulations under the Planning Act to empower certain municipalities in relation to two areas of land use planning authority.
1) Exemption from Approval - Official Plan Amendments
2) Approval Authority - Plans of Subdivision
The deadline for comments has past, but you can view the Ministry's proposal below.
PROPOSED AMENDMENTS TO THE RULES OF PROFESSIONAL CONDUCT - "LENDING CLIENT"
PROPOSED AMENDMENTS TO THE RULES OF PROFESSIONAL CONDUCT - "LENDING CLIENT"
PROPOSED AMENDMENTS TO THE RULES OF PROFESSIONAL CONDUCT - "LENDING CLIENT"
On April 25, 2019 at the Law Society's Convocation, the Professional Regulation Committee tabled proposed amendments to the Rules of Professional Conduct regarding the definition of "Lending Client" in determining whether or not a lender is private or institutional. Comments were due on June 30th.
Law Society's Professional Regulation Committee's Report
Ontario Bar Association submission to the LSO - March of 2018
REGULATORY PROPOSALS UNDER THE CONDOMINIUM ACT, 1998
REVIEW OF THE REAL ESTATE AND BUSINESS BROKERS ACT, 2002
PROPOSED AMENDMENTS TO THE RULES OF PROFESSIONAL CONDUCT - "LENDING CLIENT"
The Ministry of Government and Consumer Services proposing amendments on regulatory proposals under the Condo Act. The proposal would amend regulations under the Condo Act, delegating responsibility for 19 forms to the Condominium Authority of Ontario (CAO).
If approved, the CAO would be responsible for hosting and implementing any changes to these forms, including accessibility, format and content changes, subject to ministry approval.
REVIEW OF THE REAL ESTATE AND BUSINESS BROKERS ACT, 2002
REVIEW OF THE REAL ESTATE AND BUSINESS BROKERS ACT, 2002
REVIEW OF THE REAL ESTATE AND BUSINESS BROKERS ACT, 2002
In January 2019, the Ontario government announced that they are undertaking a review of the Real Estate and Business Brokers Act, 2002, including the provisions relating to dual agencies and disclosure of competing bids. It released a consultation paper and requested written comments and also encouraged Ontarians to fill out an online survey.
After consultation with Law Associations, FOLA submitted a formal response which you can view here.
(Please note that FOLA only responded to the first five questions in the consultation paper as we felt that we did not have enough information on to adequately respond to the rest of the questions).
The Thunder Bay Law Association also made a submission which you can view here.
UPDATED ONTARIO STANDARD CLOSING DOCUMENTS
REVIEW OF THE REAL ESTATE AND BUSINESS BROKERS ACT, 2002
REVIEW OF THE REAL ESTATE AND BUSINESS BROKERS ACT, 2002
The provincial Working Group on Lawyers and Real Estate revised the Ontario Standard Closing Documents in February 2019 and added an Undertaking (Non-Residency) for use in transactions involving non-resident vendors.
Updated versions of the Ontario Standard Closing Documents can be found on the Working Group website.
WANT TO JOIN FOLA'S REAL ESTATE COMMITTEE?
FINTRAC FINAL GUIDANCE: VIRTUAL VERIFICATION USING IDENTIFICATION DOCUMENTS
FINTRAC FINAL GUIDANCE: VIRTUAL VERIFICATION USING IDENTIFICATION DOCUMENTS
FOLA'S Real Estate committee will meet via telephone/video conference and/or email, as necessary. If you or someone from your association is interested in helping, please contact Merredith MacLennan at merredith.maclennan@stewart.com.
FINTRAC FINAL GUIDANCE: VIRTUAL VERIFICATION USING IDENTIFICATION DOCUMENTS
FINTRAC FINAL GUIDANCE: VIRTUAL VERIFICATION USING IDENTIFICATION DOCUMENTS
FINTRAC FINAL GUIDANCE: VIRTUAL VERIFICATION USING IDENTIFICATION DOCUMENTS
It is no longer required to view an "original" identification document in order to use the document to verify an individual client. It is now sufficient to view an "authentic, valid and current" copy of an identification document. While this change has been in effect since June 2019, most reporting entities have been awaiting guidance from the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) on its expectations for authentication of copies of identification documents before relying on it.
Read a press release from Borden Ladner Gervais
LAW SOCIETY CONSULTATION ON TITLE INSURANCE - 2018
FINTRAC FINAL GUIDANCE: VIRTUAL VERIFICATION USING IDENTIFICATION DOCUMENTS
LAW SOCIETY CONSULTATION ON TITLE INSURANCE - 2018
In 2018, the Law Society’s Advertising and Fee Arrangements Issues Working Group examined practices involving the payment of fees and offering of benefits by title insurers to real estate lawyers or their staff and is considering whether additional regulatory measures involving these practices are required.
Consultation Document (See also the working group’s report to June 2018 Convocation).
TERAVIEW® ISSUES
ONTARIO'S PLANNING ACT
LAW SOCIETY CONSULTATION ON TITLE INSURANCE - 2018
The Working Group on Lawyers and Real Estate maintains a list of matters which are brought to its attention regarding Teraview and/or Land Registry Office procedures.
The Working Group brings these matters to the Director of Titles, the government and/or Teranet and posts updates as it receives further information.
ONTARIO'S PLANNING ACT
ONTARIO'S PLANNING ACT
ONTARIO'S PLANNING ACT
In 2019, Bill 88, Planning Act Amendments (Doug Downey's private member's bill) was stalled due to Minister Doug Downey's promotion to cabinet. FOLA supported the Bill and hopes that it will be re-introduced as a Minister's Bill shortly.