Public articles

March 22, 2013

Share purchase for exclusive use of a dwelling

There is a method of acquiring real estate that all real estate brokers must acquaint themselves with. It is a process, sometimes called ''securitization'', by which a buyer acquires, on the one hand, a number of shares in a corporation (formerly called company) whose main asset is an immovable and, on the other hand, under a leasing agreement inseparable from the share acquisition agreement, the exclusive use of a given apartment in the immovable. The buyer then holds all rights of use to this apartment and may, in principle, occupy it or lease it. In this type of transaction, the acquisition of shares is therefore indivisible from the right to occupy an apartment specifically tied to the shares acquired.

Abiding by the Act respecting Tourist Accommodation Establishments

In the course of their activities, some licence holders act as intermediaries for the short-term rental of cottages, houses or apartments. Considering their duty to verify, inform and advise, these brokers would be well-advised to know the ins and outs of the Act respecting Tourist Accommodation Establishments.

Notaries and lawyers must act “in the course of their practice”... or be OACIQ licence holders

Note: This article refers to a judgement rendered between 2004 and 2012, at the time when the old Real Estate Brokerage Act (R.S.Q. c. C-73.1) and its regulations were in force. Therefore, the following text refers to the vocabulary applicable at that time. However, the following analysis remains relevant under the Real Estate Brokerage Act (R.S.Q. C-73.2) that came into force on May 1, 2010 and updated on July 13, 2018 after the adoption of Bill 141.

The statement of registration: sometimes a condition for issuing a licence

Filing a statement of registration can sometimes be one of the conditions for issuance of a licence. The OACIQ must also comply with the Act respecting the legal publicity of enterprises, which is why it requires a copy of this statement to issue a licence.

January 29, 2013

Exclusive brokerage contract: can the broker authorize his client to offer the immovable for sale by himself?

Some owners wishing to sign a brokerage contract ask to be able to market their immovable to find prospective buyers, too.

November 28, 2012

FORMATION DE BASE EN COURTAGE IMMOBILIER ET HYPOTHÉCAIRE | L’OACIQ se réjouit des changements annoncés

Brossard, le 28 novembre 2012 – L’Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ) est heureux de l’annonce du ministère des Finances et de l’Économie du Québec de rendre obligatoire la formation de base pour tous les futurs courtiers immobiliers ou hypothécaires. À cet égard, tous les candidats qui se présenteront à un premier examen en courtage immobilier ou hypothécaire à compter du 1er septembre 2013 devront avoir suivi et réussi la formation dans un établissement d’enseignement accrédité par l’OACIQ.

October 30, 2012

Provincial regulators partner to increase consumer protection and improve mortgage broker standards

TORONTO, ON – (October 30, 2012) Mortgage broker regulators from across the country have partnered to establish the Mortgage Broker Regulators’ Council of Canada (MBRCC). Regulators from participating provinces now have a collaborative forum to improve consumer protection, develop national solutions to shared concerns and promote harmonization of Canada’s mortgage broker regulatory practices.

September 18, 2012

How to use the mandatory form Declarations by the seller of the immovable

The Declarations by the seller of the immovable form, mandatory since July 2012, must be used for all transactions involving the sale, by a natural person, of a chiefly residential immovable containing less than 5 dwellings, including immovables held in undivided co-ownership. For any transaction involving a divided co-ownership, brokers must now use the Declaration by the seller of the immovable – Divided co-ownership form.

June 12, 2012

Application of GST and QST to the Sale of a Building Used for Residential and Commercial Purposes

Generally, the sale of a residential complex that is not newly constructed and has not undergone substantial renovations is exempt from GST and QST.(1)

Residential immovable – subject or not to GST and QST - Declaration to be made in the mandatory new forms of brokerage contract and promise to purchase

The brokerage contract and promise to purchase mandatory forms for residential brokerage include the obligation to specify whether or not an immovable is subject to goods and services tax (GST) and Québec sales tax (QST).

LAWSUIT AGAINST DUPROPRIO INC. | Mindful of Its Impact on Public Protection, OACIQ Appeals Court of Québec Decision

Montréal (Québec), January 12, 2012 – In its judgment issued on November 28, 2011, the Court of Québec, presided by Ms. Nicole Martin, acquitted DuProprio Inc. of the six (6) charges laid against the company. Mindful of the impact such a decision may have on public protection, the Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ) will appeal the decision.

April 05, 2011

Water supply, wells and septic tanks

When a transaction concerns a property that is not serviced by a municipal water system or equipped with a wastewater treatment system, financial institutions usually want assurances that the water is drinkable or the system is up to code before authorizing a loan.

November 07, 2008

Existing inspection report: What is the proper procedure for the real estate broker?

The Regulation respecting brokerage requirements, professional conduct of brokers and advertising (hereafter “the Regulation”) states that a broker or agency executive officer must take steps, in accordance with accepted practice, to learn of any factors that may adversely affect the party represented by them or the agency for which they act, the parties to the transaction or the very object of the transaction.

September 19, 2008

Telephone solicitation rules

All real estate agencies and brokers who canvass using unverified telephone lists are subject to CRTC Rules. 

December 05, 2007

Moving? Change you address easily!

You have just completed a transaction and we are so happy for you. Now you need to prepare for moving.

July 16, 2007

“Residential” or “Commercial” Brokerage: Ethical obligations are the same for all

Some real estate brokers and agencies offer services in more than one field of practice, i.e. residential and commercial and therefore do not specialize only in commercial transactions.

November 01, 2006

Use of clause R2.3 to cancel a first promise to purchase conditional upon the sale of the buyer’s immovable

Clause R2.3 of Annex R – Residential immovable allows for the acceptance of a promise to purchase conditional upon cancellation of a promise previously accepted by the seller. With this clause, the seller promises to undertake, in good faith and at his own expense, reasonable steps to obtain cancellation of every previously accepted promise to purchase the immovable.

March 17, 2006

Verifying right of ownership restrictions and consulting the online land register

Just as he must verify the features of an immovable, the real estate broker must know and verify the characteristics of the immovable’s right of ownership under private and public law.

October 21, 2005

The legal warranty of ownership and quality

A person selling movable or immovable property must warrant that the property is free from any defect in title and any latent defects.

March 20, 2005

About the brokerage contract expiry date

An expiry date must be entered in the appropriate space on the mandatory Brokerage contract form.

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