Real Estate Transactions and Electronic Documents

Vocabulary flashcards related to real estate law and practices in Alberta, Canada.

Judicial Sale

The sale of real property conducted under authority and supervision of the Court of King's Bench after foreclosure.

Electronic Transactions Act (Alberta)

Alberta law governing electronic transactions.

Statute of Frauds

Requires real estate agreements to be in writing and signed by the parties or their authorized representatives.

2007 Ruling (Electronic Communication)

Confirmed that 'writing' includes facsimile and email transmissions.

Benefits of Electronic Signatures

Allow agreements to be finalized remotely and documents to be stored electronically in real estate.

Section 61 of the Rules

Requires accurate completion, proper signatures, and timely delivery of all documents to parties.

Acceptance of an Offer

Occurs only when acceptance is communicated to the other party as per notice provisions.

Best Practice: Dates and Disclosures

Include clear completion dates and required disclosures.

Best Practice: Clarity of Language

Use precise, understandable language for terms and conditions.

Best Practice: Documentation

Accurately complete and properly sign all documents, providing copies to all parties.