Obligation of verification
Following the deposit of the new three-year assessment roll by Ville de Montréal, several brokers have called us to point out that the amount of taxes appearing on some detailed description sheets refers to the year 2010, whereas the municipal assessment is the one for 2011, without this being specified.
On June 23, 2008, amendments to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act came into force, resulting in additional requirements for the real estate sector, a sector that was already subject to the legislative requirements under the Act since 2001.
It is not unusual, especially in cottage country, for a seller to claim that he has a “right-of-way” to the lake or “lake access” rights.
Real estate brokers and agents are very familiar with the difficulties involved in determining the area of a divided co-ownership unit. On the one hand, the current practice of selling new co-ownership properties “on plans” means that measurements are based on architectural plans. On the other hand, the Civil Code of Québec requires that the cadastral plan from which the creation of the co-ownership originates be determined from an actual measuring of the inside of the private portions based on established physical boundaries.
Just as he must verify the features of an immovable, the real estate agent must know and verify the characteristics of the immovable’s right of ownership under private and public law.
As part of their professional knowledge, real estate agents should understand certain types of criminal behaviour that might be part of real estate transactions. Awareness of different types of fraud may help a broker advise his clients.
A new pamphlet entitled "Le nouveau cadastre québécois, une réalité !", published by the Direction générale de l’arpentage et du cadastre of the Ministère des Ressources naturelles, de la Faune et des Parcs, highlights cadastral reform plans for 2005-2006.
Determining the square footage of an immovable: certificate of location, cadastral plan or acquisition title?
Depending on the circumstances, the certificate of location, the cadastral plan or the acquisition title will be used to determine the square footage of an immovable.
Real estate brokers and agents have a duty to provide accurate and verified information. Here are a few handy Web links and telephone numbers to facilitate the verification process.
As a real estate broker or agent, when signing a brokerage contract with a seller, you must collect as much information as possible on the immovable and the equipment it contains. Under the Rules of professional ethics of the ACAIQ, this information must be accurate and verified.