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Session Description: The presentation will provide details of the anticipated changes to the Multi-Board Residential Real Estate Contract 5.0, with emphasis on the major revisions and the policy decisions that provided the rationale for the changes. The presentation will also reference changes in lending practices and procedures that provided the impetus for changes, as well as the experience of lawyers using other contract forms and changes to our form that resulted from such experience. The presentation will reference the less obvious yet still relevant amendments, some made in response to recent case law and most of which affect lawyers to a greater degree that real estate brokers. These amendments also have an impact on the legal rights and responsibilities of the parties to the contract. Finally, we will discuss changes in format and usage suggested by brokers.
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