This Div is a JS Trigger
Issue 72 | November 2021

LIANSWERS

This newsletter includes information to help lawyers reduce the likelihood of being sued for malpractice. The material presented is not intended to establish, report, or create the standard of care for lawyers. The articles do not represent a complete analysis of the topics presented, and readers should conduct their own appropriate legal research.
Important Changes to the Standard Form Agreement of Purchase and Sale

For many property practitioners, you may already be aware of the upcoming changes to the Standard Form Agreement of Purchase and Sale that will be coming into effect on January 3, 2022. For those who need more information, or wonder how it may affect your practice, please visit the Nova Scotia Real Estate Commission website https://www.nsrec.ns.ca/news-practice-resources/commission-news/item/buyer-s-conditions-updates-effective-january-3rd-2022.

To quote from the NSREC website, the prior “No News is Good News”  is being replaced with a “No News Means You Lose” position, and the changes include additional responsibilities on Buyers to confirm satisfaction with stipulated conditions or risk having the transaction deemed terminated, which is significantly different from the prior presumption that if a term was not disputed or objected to, it was deemed accepted.