Published by the B.C. Real Property & Planning Group
McCarthy Tétrault VOL.4,
ISSUE 1
2013
February
12
Real Estate MATTERS

Welcome to Volume 4, Issue 1 of Real Estate MATTERS, a periodic publication of our B.C. Real Property & Planning Group. This publication is intended to give you a summary of recent developments in real estate law in British Columbia and, more importantly, what they mean to you.

We hope you will find Real Estate MATTERS informative and useful. Please let us know if you have any suggestions to make this publication even more helpful, or if there are topics or issues you would like to see covered in future issues.

Scott Smythe and Russ Benson (Editors)




British Columbia Court of Appeal Reaffirms Seller’s Right to Retain Defaulting Buyer’s Deposit Without Proof of Damages
On February 5, 2013, the British Columbia Court of Appeal (BCCA) released an important decision addressing the proper rules for interpreting the language of deposit forfeiture clauses in contracts for the purchase and sale of land.

In Tang v. Zhang, the BCCA was faced with the following question: where a buyer fails to complete the purchase as required and has paid a "deposit" that the contract states is to be forfeited to the seller "on account of damages," must damages be proven in order for the seller to retain the deposit?

FULL STORY