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ARTICLE · 18 MAY 2021

Recent Changes To REDMA Made Permanent – A Small Change But A Good Change

Lawson Lundell LLP
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This blog post highlights certain amendments to British Columbia's Real Estate Development Marketing Act ("REDMA") Policy Statements 5 and 6 which came into effect May 1, 2021.

CanadaReal Estate and Construction
Jisoo Vis
Jisoo Vis
Timothy Law
Timothy Law
Aaron Kandola
Aaron Kandola
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This blog post highlights certain amendments to British Columbia's Real Estate Development Marketing Act ("REDMA") Policy Statements 5 and 6 which came into effect May 1, 2021.

Policy Statement 5 sets out circumstances under which a developer is deemed to have permission to begin early marketing of a real estate development before a building permit is issued for the development. Policy Statement 6 sets out circumstances under which a developer may market a development if the developer has not obtained a satisfactory financing commitment to pay for the cost of utilities and other services for the development. Prior to the recent amendments, the early marketing period permitted under Policy Statements 5 and 6 was nine months from the date the developer files the disclosure statement with the Superintendent of Real Estate for the development.

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