real estate assignment agreements

Premier Christy Clark announced this morning that her government will create “new rules” within existing legislation to address assignment agreements.

These rules will require informed consent from the original seller, and for the profits from assignments to revert to the original seller.

These rules are under development and not yet in force. The government will rely on the findings that come from the Real Estate Council’s Independent Advisory Group. This group will provide an interim report in April.

Read the government’s release here.