Co-ownership Agreements

Purchasing a Home with Family Members

The cost of homes in the Greater Victoria Area increased significantly in the last few years. A lot of individuals are not able to purchase a home on their own. One of the solutions might be a joint purchase with family members. A family can purchase a joint home to live in or as an investment opportunity.

A co-ownership agreement provides for clarity and alleviates risks associated with joint ownership. An agreement will ensure that matters such as:

  • the difference between legal and beneficial ownership;
  • which parties are responsible for the mortgage;
  • who pays what expenses and in what proportion; and
  • what happens when one of the owners wants to sell; and
  • how are the funds distributed upon the sale;

are in place for you and your family’s protection.

 

Contact Beacon Law Centre for trusted advice on co-ownership agreements.

 

Article written by: Victoria Garner, Lawyer at Beacon Law Centre

Deep Cove Market 50/50 Gold Mine Lottery

Don’t miss out on the Deep Cove Market 50/50 Gold Mine Lottery – sponsored by our Rotary Club of Sidney by the Sea

No Copyright or Trademark Protection for Metatags and Keywords

No Copyright or Trademark Protection for Metatags and Keywords

November 2015

A travel agency that copied the metatags from several pages of a competitor’s website did not infringe on the competitor’s copyright or trademarks, according to a recent decision of the Federal Court of Canada.  The metatags were mostly derived from Google keywords that are commonly used in the travel industry.  However, the court did say that, in some cases, originally-worded metatags may have copyright protection.  In another case, the BC Supreme Court ruled that using a competitor’s business name or trademarks for keyword advertising is not trademark infringement.  This case is under appeal, although it is the second Canadian decision that found this practice to be fair use.

Changes to the Friends and Family & Accredited Investor Exemptions

Subject to certain requirements, private companies can sell shares to friends and family and “accredited investors” without issuing a prospectus or hiring a registered securities dealer. These exemptions have been amended to require that companies take “reasonable steps” to confirm that investors meet the requirements of the exemption. Companies may no longer simply rely on the representations of the investor. In addition, accredited investors must sign a new Risk Acknowledgment Form.