Canadian Lawyer

REAL ESTATE NEW EDITION THE ART OF THE REAL ESTATE DEAL, 3RD EDITION BARRY D. LIPSON, Q.C. The Art of the Real Estate Deal, 3rd Edition is a clearly and concisely written guide, consolidating the various aspects of commercial real estate transactions in one volume. WHAT'S NEW IN THIS EDITION The third edition has been significantly expanded and updated to include the following: ORDER # 983674 $153 Softcover + CD-ROM approx. 380 pages September 2011 978-0-7798-3674-1 • • • • • • A new section on the use of leverage in Chapter 2 – Property Valuation A new section on break-even ratios in Chapter 3 – Risk Assessment Updated pro forma for both subdivision and condominium development in Chapter 4 – Land or Site Valuation A new section on acting in good faith in Chapter 8 – Preliminary Considerations Substantial updates to Chapter 9 – Choice of Entity, relating to the acquisitions by a partnership and by a corporation, the tax consequences of each, and a new section on Joint Ventures AVAILABLE RISK-FREE FOR 30 DAYS Order online at www.carswell.com New precedents – partnership agreement and co- ownership agreement, and provisions relating to good faith and arbitrations Call Toll-Free: 1-800-387-5164 In Toronto: 416-609-3800 Shipping and handling are extra. Price subject to change without notice and subject to applicable taxes. group that has been looking for ways to improve the lot of residential real estate lawyers whose business took a big hit as title insurance and streamlined mort- gage approval processes have chipped away at many of their responsibilities. He and other real estate lawyers see a trend towards home sales by owners as an opportunity to recapture lost ground, as the homeowners may come to rely on law- yers to help them draw up contracts and negotiate deals. "We have been advocating for years for purchasers and vendors to involve their lawyers earlier in the pro- cess," says Leclair. "These changes could very well have this effect: This could help drive those seeking advice and guidance to lawyers who can advise them on a wide range of issues." This is what Mike Fortier says he GAIN INSIGHT INTO THE LEGAL DYNAMICS OF A REAL ESTATE TRANSACTION LECTURES IN REAL ESTATE TRANSACTIONS PAUL PERELL, B.A. (TORONTO), LL.B., LL.M., Ph.D. (OSGOODE), L.S.M. Gain insight into the mechanics and legal dynamics of a real estate transaction. Lectures in Real Estate Transactions is a valuable resource that covers the fundamentals of a real estate transaction from beginning to end, including mortgages and remedies. Written by an experienced judge and professor, this title presents information in an easy-to-understand style and includes references to leading case law. Lectures in Real Estate Transactions is an indispensable resource. It is a study in the fundamental principles of contract law, tort law, restitution, and property law in the context of a transaction involving the sale of land and in the broader context of commercial transactions. AVAILABLE RISK-FREE FOR 30 DAYS Order online at www.carswell.com Call Toll-Free: 1-800-387-5164 In Toronto: 416-609-3800 CANADA LAW BOOK® Shipping and handling are extra. Price subject to change without notice and subject to applicable taxes. ORDER # 804548 $144 Hardcover approx. 360 pages October 2011 978-0-88804-548-5 is beginning to see and hoping to see much more of. A lawyer with a solo practice in Owen Sound, Ont., he is also president of Lawyers Web Property Shop Ltd., which offers a web-based service (www.propertyshop.ca) to help people with private home sales. Like similar online services that have been empowered by the MLS agreement, the site provides tips on private sales and listings of properties for sale, together with web-based services such as what Fortier describes as "a talk- ing lawn sign with a 24-7 phone message" and a code that lets people download information onto their phones. And the site also offers to connect homeowners with a lawyer, 42 of whom are currently registered with the service. Property Shop claims that, by paying only for online marketing and legal can save about $11,000 in realtors' com- missions on a $300,000 house sale. Fortier' fees, homeowners will be restored to something approaching their old role. They will be doing more of the work that they used to do in the days before conveyancing was commoditized by technology and business processes. "Our standard conveyancing now is so simple. I question what legal work do we really do other than transfer huge sums of money to our trust accounts and have people verifying their ID, s vision is that real estate lawyers real legal work is negotiating and finding what the client wants and getting that put into a deal. So this I believe really gets the lawyer doing more legal work. " he says. "The 24 JULY 2012 www. CANADIAN Lawyermag.com

• Cover