Hello,

After a long interlude of my dealing with too many closings and not enough time for a newsletter, things have now calmed down. It is time again for me to send out this newsletter to bring some important things to your attention, to help you.

A brief update….

With a view to retiring in the near future, I am starting the transition of my practice to Eli Zbar of Arora Zbar LLP. Eli Zbar specializes in residential and commercial real estate, and corporate commercial work. We anticipate the transition to be complete by end of June, 2023.

Like me, Eli is dedicated to client service in a prompt and cost-effective matter. He uses the latest technology (hence the visually refreshed newsletter!) and will help service my clients and yours in the best way possible, including his closing cost calculator which provides buyers, sellers, and refinancers, quotes for legal fees, applicable taxes, and disbursements. Arora Zbar LLP also has 2 excellent litigators at the firm who practice general civil litigation and construction law. You will be in good hands with them.

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Getting the Parties Right on the Contract

If the seller is deceased, then it is the estate that is the seller, not the executor. The executor is not the owner of the land, the estate is. Example: Mr. Jones dies and Mr. Smith is the executor. In the sections where the seller is named it should say “Estate of Mr. Jones.” Only at the signature line do you add Mr. Smith. There it should read “Estate of Mr. Jones by its executor, Mr. Smith” or “Mr. Smith, executor of the Estate of Mr. Jones”.

The same thing applies when a power of attorney is used. Example: Mr. Jones is the owner of the land and his attorney is Mr. Smith. The seller should be described as “Mr. Jones” only. Do not mention Mr. Smith anywhere but at the signature line . The signature lines should state “Mr. Jones by his attorney, Mr. Smith” or “Mr. Smith, attorney for the Mr. Jones”.

Buyer Landlords Beware

If your client is buying a property and there is a tenant, make sure the details of the lease are put in the offer and you get a copy of the lease and verify the details. put in a representation by the seller that the tenant is in god standing under the lease. Your client doesn’t want to buy a property only to find out the tenant owes back rent.

If the agreement requires the seller to give the tenant notice of termination of the lease as the buyer wishes to occupy the premises, make sure the purchase agreement clearly states who pays the tenant the one month’s rent compensation for the lease termination. Otherwise the seller will take the position that the buyer should pay that, as it is the buyer that wanted the lease terminated.

What should be on a PDS?

When the PDS for a strata is being signed, any agent, whether for a buyer or seller, who accepts a PDS that is silent as to the property manager, the strata fees, and the parking and storage locker numbers, because the “seller never lived there”, frankly should not be entitled to their commission. This is basic, easily obtainable knowledge and the buyer’s lawyer should not have to chase it down when he receives the offer. There is no reason for it to be left out.

I am here for you!

I remind agents that I offer them free short phone consultations. For clients I charge fixed all inclusive fees for transactions and will visit the client in the evening or on weekends to sign documents. My prices are inclusive of all taxes and disbursements, except for title insurance if required by the lender.

Contrary to what people think, a lawyer is not more expensive than a notary. Remember that all lawyers are notaries, but notaries are not lawyers. My experience is that as soon as there is a problem with a deal, most notaries will tell the client to see a lawyer for help. So why not start with a lawyer? I welcome the opportunity to quote on your client’s conveyance.

As well as residential real estate, my practice areas are corporate work, wills and estates as well as commercial real estate work, including leases.

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Yours Truly,