31/05/13 – Jurisdiction Alberta
Part 31 published on 01/08/10
Purchaser entitled to rescind agreement and entitled to return of deposit
Part 31 published on 01/08/10
Purchaser entitled to rescind agreement and entitled to return of deposit
The developer of a condominium project (Axxess) had set a closing date for this purchase transaction in accordance with the terms of the purchase agreement. Axxess had then purported to set a new closing date, but the Court determined that Axxess had not followed proper procedures in doing so. Therefore, the Court said that after Axxess had failed to tender closing documents on the first closing date, the purchaser was entitled to rescind the agreement and was entitled to a return of his deposit.