What to do when the buyer or seller of a property withdraws after the offer to purchase has been accepted? One can pursue the matter in court to force the recalcitrant party to close the sale. This procedure, known as an “action in passing of title”, must be instituted within a reasonable period of time.
The projected start date is often a determining factor in a bidder’s estimate of the contract price.
It is often advantageous for a bidder to plan for the work to be completed during the mild season, or for the buildings to be shut, in order to minimize the cost of enclosures, snow removal, heating and the loss of productivity associated with performing certain kinds of work in winter, not to mention the suspension of work during statutory holidays.
This article first appeared in French in the Spring 2020 edition of the Copropriété Plus magazine.
Are you a real estate developer building condominiums? If so, this article may be of interest to you.
The legal provisions aimed at ending the real estate developer’s control over the syndicate of co-owners are designed to ensure the smooth handover of decision-making power from a building’s developer to its new owners. The developer’s management of the building, which is geared toward construction and sale, is to be replaced by the regular operation of a condominium under the control of its co-owners.
As our economy takes its first steps toward reopening and we look ahead to the post-COVID-19 world, many companies are grappling with the fallout of the various defaults or breaches of contract they have experienced during the crisis. While much has been written about “force majeure” and what companies should do if they are unable to meet their obligations because of the crisis, less has been said about the situation of the party on the receiving end of the default, who often suffers losses and significant set backs of their own as a result.
A recent judgment rendered by the Superior Court in the judicial district of Montréal is in line with the current trend in rulings regarding the appointment of receivers under the Bankruptcy and Insolvency Act, namely the requirement that the notice of exercise of a hypothecary right referred to in the Civil Code of Quebec be submitted, and the time limit specified in the notice must have expired, prior to the application to appoint a receiver.
This article originally appeared in the April-May 2020 issue of Canadian Lawyer InHouse magazine.
They say you never get a second chance to make a first impression. The same is true for business names and trademarks. In our globalized economy, these can take on new and unintended meanings in other markets, sometimes with damaging results.