BEST PRACTICE
TRUST DISBURSEMENTS AND DISPUTES

Disbursement of trust funds should a trade or deal not be completed may lead to questions or complaints. Industry members should be aware of these best practices for trust disbursements and disputes.

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MESSAGE FROM COUNCIL

RALPH SALOMONS, CHAIR

Highlights of some of Council’s current priorities, including industry member education and licence reciprocity.

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TRUST CHEQUE COPIES: FRONT AND BACK REQUIRED

Council's policy on copies of trust cheques has not changed.

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CHANGES TO MORTGAGE INSURANCE RULES

Industry members should be aware of recent changes to mortgage insurance rules, and ensure any advertising reflects these changes.

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BROKERAGES TO BENEFIT FROM ONLINE FILING OF COMPLIANCE AUDIT FORMS

RECA is pleased to be introducing online filing for compliance audit forms in 2009.

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Questions and answers

TRANSACTION BROKERAGE

Transaction brokerage came into effect on October 1, 2008. In this Regulator, a frequently asked question on transaction brokerage will be answered, and further resources will be provided..

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REAL ESTATE LICENCES SUSPENDED

HARRISON TSE, ASSOCIATE -
TWIN OAKES REAL ESTATE 1993 INC. O/A RE/MAX HOUSE OF REAL ESTATE

PATRICIA FRANCES ROQUE, ASSOCIATE -
POLARIS REALTY (1995) LTD. O/A REALTY EXECUTIVES POLARIS

case summaries

Case summaries are published in accordance with section 55 of the Real Estate Act. Decisions are publicized to enhance the transparency of RECA’s disciplinary process and to assure consumers there is an effective framework in place to deal with breaches of the Real Estate Act.

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