Update on who gets to keep the Deposit
As an update to our prior posting on this matter, the British Columbia Court of Appeal have recently considered another factual scenario where the purchaser failed to complete on a contract of purchase and sale in the case…
Who keeps the Deposit when the Purchaser fails to complete?
A recent Court of Appeal judgement, Tang v. Zhang, has moved towards clarifying the law surrounding the forfeiture of deposits in British Columbia real estate transactions when the purchaser fails to complete. The case in question involved a…