C-73.2, r. 1 - Regulation respecting brokerage requirements, professional conduct of brokers and advertising

Section 18 Disposition versions

2023-03-23

18. A licence holder who, whether or not in the course of the holder’s functions, directly or indirectly holds or proposes to acquire an interest in an immovable that is to be purchased or sold, or acts or proposes to act as a lender in connection with a loan secured by immovable hypothec must, before the drafting or acceptance of the proposed transaction by the prospective contracting party, send without delay to that party, using any means providing proof of the date and time of receipt, a written notice containing

(1)  the name of the licence holder;

(2)  the licence held and its number;

(3)  the address of the holder’s establishment;

(4)  the name and contact information of the prospective contracting party;

(5)  the purpose and nature of the transaction;

(6)  the nature of the interest the holder has or proposes to acquire;

(7)  the date and time of receipt of the notice; and

(8)  the signature of the broker or agency executive officer, as the case may be.

The notice must also state, if applicable, the fact that the licence holder, for the holder’s account, is negotiating, has negotiated or intends to negotiate the resale or alienation of the immovable the holder proposes to acquire.

In the event that the notice is not given, the person entitled to the information may, as long as the contract has not been signed by the parties, withdraw without penalty from any offer or promise concerning the immovable or loan, whether accepted or not, by sending or giving a written notice to the other party.

The licence holder’s notice must be kept in the notice of disclosure record maintained by the broker or the broker’s agency and be entered in the notice of disclosure register.

O.C. 299-2010, s. 18; O.C. 173-2023, s. 8.

2012-09-01

18. A licence holder who, whether or not in the course of the holder’s functions, directly or indirectly holds or proposes to acquire an interest in an immovable or enterprise that is to be purchased, sold or exchanged, or acts or proposes to act as a lender in connection with a loan secured by immovable hypothec must, before the drafting or acceptance of the proposed transaction by the prospective contracting party, send without delay to that party, using any means providing proof of the date and time of receipt, a written notice containing

(1)  the name of the licence holder;

(2)  the licence held and its number;

(3)  the address of the holder’s establishment;

(4)  the name and contact information of the prospective contracting party;

(5)  the purpose and nature of the transaction;

(6)  the nature of the interest the holder has or proposes to acquire;

(7)  the date and time of receipt of the notice; and

(8)  the signature of the broker or agency executive officer, as the case may be.

The notice must also state, if applicable, the fact that the licence holder, for the holder’s account, is negotiating, has negotiated or intends to negotiate the resale or alienation of the immovable the holder proposes to acquire.

In the event that the notice is not given, the person entitled to the information may, as long as the contract has not been signed by the parties, withdraw without penalty from any offer or promise concerning the immovable, enterprise or loan, whether accepted or not, by sending or giving a written notice to the other party.

The licence holder’s notice must be kept in the notice of disclosure record maintained by the broker or the broker’s agency and be entered in the notice of disclosure register.

O.C. 299-2010, s. 18.