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The Real Estate Council of Alberta (RECA) has prepared this glossary to help Alberta consumers navigate real estate and mortgage transactions. RECA is source of neutral and credible information for consumers about real estate and mortgage transactions in Alberta.
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AREA Contract: The contract most often used for real estate purchases and sales in Alberta when real estate agents act for buyer and/or seller. Arrears: And amount due and owed but not paid to a third party such as a mortgage lender, tax authority or Condo.
ALBERTA REAL ESTATE PRACTICE MANUAL . ... ALBERTA REAL ESTATE PRACTICE MANUAL . LESA 2022 . ... 1.3 Real Estate Purchase Contract ...
The Real Estate Act of Alberta is the legislation governing residential real estate, commercial real estate, property management, condominium management, and mortgage brokerage licensees in Alberta. RECA administers the Act on behalf of the provincial government.
Sep 12, 2022 · Updated July, 2022, LESA’s Alberta Real Estate Practice Manual outlines key areas of knowledge for Alberta practitioners in the area of real estate law. Whether you practice in commercial or residential real estate, this manual is for you.
7.2 This Contract is for the benefit of and shall be binding upon the heirs, executors, administrators and assigns of the individual parties and the successors and assigns of corporate parties. 7.3 All changes of number and gender shall be made where required. 7.4 Portions of this Contract may be enforced even if the Contract has ended.
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Division 2 – Requirements for Real Estate Brokerages s.93 Definition s.94 Real estate trade records s.95 Brokerage must maintain trust account s.96 Unauthorized payment from trust s.97 Payment of commission from trust s.98 Repealed (November 2020) Resolution 2020-11 s.99 Repealed (November 2020) Resolution 2020-11