COVID-19 REAL ESTATE UPDATE - JAN 18

Click here for FOLA's most recent COVID-19 update.

For past COVID-19 updates, click here 

 List of banks allowing lawyers to make the payment of mortgage discharges by wire 

LSO guidance on wire transfers and, in particular, who is responsible for the wire transfer fees (Dec 17)

SCJ Notice re: Appeals from the Landlord and Tenant Board in the Divisional Court (Effective August 24, 2020)

SCJ Notice re: filing direction for Commercial List and Estates List matters  (Aug 17)  *applies to Toronto only. The processes in other regions are unchanged  

Direct link to Lawyers Delayed Closing Escrow Agreement Working Group site for the Lawyers Delayed Closing Escrow Agreement  

HERE ARE SOME TIPS

CLOSING REAL ESTATE DEALS DURING A PANDEMIC 

BASIC APPROACH FOR REMOTE SIGNING

On April 23, 2020, the Ontario Government amended an order under s. 7.0.2(4), of the Emergency Management and Civil Protection Act permitting wills and POAs witnessed virtually (through audio – visual communication) to be signed in counterpart from the date of the order.  It is intended that this order will remain in place until the end of the declared state of emergency.

This amendment simply revokes Schedule 1 of O. Reg 129/20 and replace it with a new Schedule 1 that includes both the virtual witnessing provisions (unchanged since April 7 and in effect for the duration of the state of emergency) and the new counterpart signature provisions, effective from the date of the order onward for the duration of the state of emergency.

You can view the order here and read the legislation here.

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.

NEWS FROM THE LSO

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.

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.

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.

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.   

The Trust in Real Estate Services Act, 2020 (TRESA, 2020) received Royal Assent in the Ontario legislature on March 4, 2020. TRESA, 2020 amends the Real Estate and Business Brokers Act, 2002 (REBBA), the legislation that governs real estate brokerages, brokers and salespersons, setting rules for how they conduct business and interact with consumers. 

The ministry then held consultations on the first phase of draft regulations required to bring these legislative changes into force and requested feedback on the following two issues: 

1. Personal Real Estate Corporations (PRECs), including the criteria to describe what a PREC is and the conditions that must be met in order for the PREC to qualify for an exemption from the requirement to be registered under the Act; and, 
2. Changes to the existing Code of Ethics regulation to expand and clarify the terms that registrants may use in their advertising when referring to brokers and salespersons.

Further details, including a copy of the proposed regulations, can be found on the Ontario Regulatory Registry’s website here. 

If you have any questions, please contact the ministry at REBBA@ontario.ca 

In January 2019, the Ontario government announced 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.

VIRTUAL COMMISSIONING - MAG REFORMS

FOLA'S SUBMISSION TO PROPOSED REFORMS - APRIL 2019

FOLA'S SUBMISSION TO MAG - JUNE 2020

CCLA SUBMISSION (JUNE 2020) 

TLA SUBMISSION 

DEFINITION OF "LENDING CLIENT" - LSO

FOLA SUBMISSION (JUNE 2019)