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REAL ESTATE yourself from any potential fraudulent activity," says McMackin. Law society Bencher Brad Wright, who helped shape the changes, says the new regulations will make it tougher for fraudsters to suc- ceed and easier to detect illegal activity. But he adds changes could be made as the battle against real estate fraud continues. "Rules and other measures are always a work in progress. Nothing's ever fixed in stone permanently . . . no system is perfectly foolproof." And if Aaron's observations are right, it's likely this round of I'll be a little late for dinner, dear. Value your time? Then you'll value our technology! Industry leader in legal software for real estate, corporate and estates for over a decade The choice of 2500 law firms, The Conveyancer generates required documents (including lender forms), tracks undertakings, exchanges data with Teraview® (ON) and SPIN (AB) and integrates with four title insurers. Comprehensive corporate records software tracks changes and generates prescribed forms, registers, ledgers, share certificates, resolutions, minutes, correspondence, etc. Integrated e-filing and extracts. The Estate Administration module automates Rule 74/75 forms plus scores of letters and documents. The Estate Accounting module simplifies recording of financial transactions, and generates reports in "passing of accounts" format. rule changes won't be the last. "There's still new fraud, and the industry stakeholders, we have to continue to be vigilant to stop this kind of thing," he says. "Ultimately, if we have a crooked cli- ent, we've got to be one step ahead. And unfortunately, my belief is that a lot of the real estate fraud is being perpetrated by orga- nized crime, and they always attempt to be one step ahead of the honest members of our society." There are other regulation changes that real estate practitio- Tel: 416.322.6111 Toll-free: 1.866.367.7648 www.doprocess.com ners should be mindful of. The Mortgage Brokerages Lenders and Administrators Act will on July 1 supersede the Mortgage Brokers Act. The law society negotiated an exemption for lawyers "if they are dealing in mortgages (except for soliciting a person to borrow money on the security of real property), trading in mort- gages or administering mortgages as currently defined in the act provided that the lawyer is acting in his or her professional capac- ity as a lawyer on behalf of a client and does not hold himself or herself out as carrying on these activities." Lawyers who don't meet the exemption requirements must apply for a licence. 24 M AY 2008 www. C ANADIAN mag.com