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The Naked Investor Forums
Gordon Holtner

Stupid Laws In Alberta

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Hi Everyone

 

I just read the laws in Alberta concerning aquiring an interest in real estate and they are so crazy and broad that if you wanted to negotiate for yourself to buy a house you'd need a licence!!!! It reads that a land agent aka scumbag realtor is a person who negotiates on behalf of themselves, another person or for their employer for an interest in land is classifed as a realtor. So even if I do a CA I am breaking the law and am liable for fines up to $5000 it is such garbage. Adam how do you use lawyers to safeguard your CAs ? The law exempts lawyers from the act.

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Gordon, would you mind providing a link or cut & paste the law you're referring to please? I am reading the Alberta Real Estate Act right now and I see nothing in there that says you need to have a license to buy and sell for yourself.

 

In fact I noticed something interesting. The act specifically exempts consultants saying that: "The provision of information alone does not constitute assisting or offering to assist for the purposes of subsection (1)(x)(iii)."

 

Everything else I've read so far is the same as Ontario. You need a license to trade in real estate for another.

 

Section 2(1)©(i) exempts "a person, who acquires real estate or any interest in real estate."

 

and (iii) also exempts an employee of a person with an interest.

 

From what I can tell a "Land Agent" is someone who negotiates with landowners for surface and right of way rights. Not someone who buys and sells houses.

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Hi Doug

 

I was looking at the Land Agents Licencing act to determine if any of my actions would fall under that of a realtor. The link is Queens printer go to catalogue and go to L for Land Agents Licencing act. I sincerly hope I am reading it wrong. But in the end I will find some way to do anyway. Doug

thanks for even looking at that I appreciate it . :D

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C)    on the person’s own behalf,

 

                                                  negotiates for or acquires an interest in land, or

 

                                          (ii)    a person who for a fee, which includes accepting compensation for travel and other incidental expenses, gives or offers advice to an owner or the owner’s agent with respect to a negotiation for or acquisition of an interest in land;

 

Well your definately not doing it for a fee from the seller.. as you are essentially in technical terms a buyer, but negotiating for or aquiring an interest in the land might fall under what we do(or in my case going to do:)). But then again if we are just leasing the property from the owner with an option to buy that doesnt seem to fit the bill either. We are tenants, and tenants do not need a liscense to rent. Nor do buyers need a liscense to buy. So it sounds a little bit confusing:)) Hey where is that legal eagle MC?:D

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Gordon, there it is:

 

Definitions:

1(B ) "interest in land" means an estate or interest in land that

(i) is acquired for the purpose of a right of way or other surface use, and

(ii) is of a kind that may be acquired

 

Then it lists various acts covering expropriation of land.

 

This act has nothing to do with what we do with lease options. The act that you should be reading is the Alberta Real Estate Act as I mentioned above, which you are also exempt from as long as you have an interest in the property ("interest" includes: lease, option, purchase contract, mortgage etc.)

 

Now get out there are start doing deals!

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Gordon, there it is:

 

Definitions:

1(B ) "interest in land" means an estate or interest  in land that

(i) is acquired for the purpose of a right of way or other surface use, and

(ii) is of a kind that may be acquired

 

Then it lists various acts covering expropriation of land.

 

This act has nothing to do with what we do with lease options. The act that you should be reading is the Alberta Real Estate Act as I mentioned above, which you are also exempt from as long as you have an interest in the property ("interest" includes: lease, option, purchase contract, mortgage etc.)

 

Now get out there are start doing deals!

 

doh.. ofcourse land!

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Doug

 

Thanks for pointing me in the right direction. jtlab I don't think of myself as Homer more of a Columbo type guy. If I don't have the answers I know the people here do.

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Doug

 

  Thanks for pointing me in the right direction. jtlab I don't think of myself as Homer more of a Columbo type guy.  If I don't have the answers I know the people here do.

 

 

here here.. i always over analyze everything.. thats just the way I am.. I always need to know the whys.. probaly why my english teacher loved me back in college. Ahh the research days. Too bad she wasnt hot:( hehe

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Hey where is that legal eagle MC?;)

Good question, jt. I have had no success at procuring someone to watch over this forum. If you, or anyone else for that matter, has an attorney friend who might be willing to share some smarts with us, please put him or her in contact with me. The pay is lousy, the benefits suck, and the bossman is a mean, nasty SOB. Good luck! B)

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The pay is lousy, the benefits suck, and the bossman is a mean, nasty SOB.  Good luck!  ;)

You misspelled MOB B)

 

Hey where is that legal eagle MC?

Really, whatever happened to that Legal Eagle Hunk himself? (I know I broke his heart few times but didn't think he was gonna take it so hard) I'm sure he still lurks around once in a while tho :P

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You misspelled MOB
La Bruha made a funny... B)
Really, whatever happened to that Legal Eagle Hunk himself? (I know I broke his heart few times but didn't think he was gonna take it so hard) I'm sure he still lurks around once in a while tho
Our bud Mike had to resign his post here as the Legal Eagle due to his changing law firms.

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Admin did u not take that vacation I prescribed you last time? You need it bruho.. Relax, get a massage, bubble bath, more massage, drink coronas as needed, listten to soft music, more massage, eat all the seafood you can handle, more massage and forget about Adam, Jason, Pine & Doug for few days....take a month off and call me in the morning (not tomorrow morning tho... cause tomorrow is the most important day of life B) )

 

Now, Go!

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