Original article: http://www.remaxwest.com/blog/p/what-does-materiality-mean-in-the-context-of-real-estate The issue of “materiality was recently considered by the Supreme Court of Canada in Sharbern Holding Inc. v. Vancouver Airport Centre Ltd. (2011). The important aspects of the test for materiality are considered from the perspective of a reasonable purchaser and appear to be as follows: Materiality is determined objectively an omitted fact is material if there is a substantial likelihood that it would have been considered important an omitted fact is material if there is a substantial likelihood that its disclosure would have significantly altered the total mix of information made available the proof required ...
The Basic Principles Behind "Materiality"
January 4, 2013
What Does "Materiality" Mean in the Context of Real Estate?
January 2, 2013
The issue of “materiality” in the context of a real estate transaction is always important. Under the Code of Ethics passed pursuant to the Real Estate and Business Brokers Act, 2002, a material fact is defined as follows: “material fact” means, with respect to the acquisition or disposition of an interest in real estate, a fact that would affect a reasonable person’s decision to acquire or dispose of the interest”. Further, a real estate agent must determine, investigate and verify material facts, and they must be disclosed to clients. But, just exactly what does “materiality” really mean? Here’s what ...