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ARTICLE · 10 SEPTEMBER 2024

September 2024 Update: New Fees For Real Estate Developers

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As of September 1, 2024, real estate developers face new fees for filing disclosure statements, amending disclosure statements...

CanadaReal Estate and Construction
Peter Hagel
Peter Hagel
Stephen Lewis
Stephen Lewis
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As of September 1, 2024, real estate developers face new fees for filing disclosure statements, amending disclosure statements, and applying for exemptions under the Real Estate Development Marketing Act1 ("REDMA").2

Background

The BC Financial Services Authority (the "BCFSA") is a self-funded Crown corporation that operates on a cost-recovery basis. BCFSA administers REDMA and the Real Estate Services Act and is responsible for reviewing disclosure statements submitted by developers.

REDMA Fee Increases

The previous fees paid under REDMA were established under the former Office of the Superintendent of Real Estate on January 1, 2019. BCFSA has since assumed responsibility for administering REDMA.

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The foregoing provides only an overview and does not constitute legal advice. Readers are cautioned against making any decisions based on this material alone. Rather, specific legal advice should be obtained.

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