Thursday, June 01, 2006

Raising the bar or are we to be the scape goats?

Recent rule changes in Alberta have increased the threshold of agent responsibility. With the RECA'S code of conduct serving as a guideline for industry members the plan is to incorporate this code into the rules which are legislated and thereby making the code a rallying point for litigation. With the code having its own definitions on such items as "Material Latent Defect", terms that sometimes have different legal definitions become included in the rules creating an onus on agents that may find themselves in double or triple jeopardy. There is also an increased obligation on agents to ivestigate and discover defects (now if you ask me this is opening a whole can of "whoop ass") where the obligation is to currently "disclose" facts the obligation will be to "discover". This inidicates a willingness by the council to undertake what negligence is an aspect currently determined in the civil courts.

I am as of now not certain how or how much these changes will impact us as an industry. Stayed tuned and if you see or hear of any interesting changes coming do us a favor and let us all know.


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