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Quebec Real Estate : “Amendments and notice of fulfillment of conditions
As we know, real estate brokers and agents who en-gage in brokerage activities regarding a chiefly residential immovable containing less than five dwellings must use certain mandatory forms.
As its name indicates, this form must be used in two types of circumstances: 1) when the parties to an agreement already signed (Promise to Purchase or Brokerage Contract) wish to amend its terms and conditions and 2) when one party must notify the other that one or more of the conditions prescribed in a Promise to Purchase are fulfilled.
Fulfilment of conditions
The “Amendments and Notice of Fulfilment of Conditions” form must also be used when a party notifies the other party that one or more of the conditions prescribed in a Promise to Purchase are fulfilled. Contrary to the case where the form is used to amend the agreement, the signature of the party for whom the Notice of Fulfilment of Conditions is intended does not certify the agreement of the parties but simply acknowledges receipt of the notice. The recipient’s signature is therefore not essential to the notice’s validity. However, it is preferable to obtain this signature, because it proves that the notice has been given within the period provided to do so.
Catalin Ivan – Quebec Real Estate Broker –