Download Full Green Disclosure Statement Including:

  • 1st Amendment to the Disclosure Statement
  • 2nd Amendment to the Disclosure Statement
  • 3rd Amendment to the Disclosure Statement dated December 19, 2018
  • 4th Amendment to the Disclosure Statement

Why is there a Fourth Amendment to the Disclosure Statement?

Further to our regular completion updates and estimates provided online, this forth amendment to the disclosure statement further communicates that the Developer currently estimates Completion to be between October 1, 2019 and December 31, 2019.

Please download a copy of the Fourth Amendment to the Disclosure Statement for more information.

 

Why is there a Third Amendment to the Disclosure Statement?

Effective January 1, 2019, developers marketing real estate development properties located in British Columbia will be subject to new information collection, reporting, and document retention requirements with respect to assignments of purchase agreements.

The amendment to the Disclosure Statement does not relate to the Green on Queensbury’s physical aspects or specifications, rather the amendment reflects new legislation that requires developers marketing real estate development properties located in British Columbia be subject to new information collection, reporting, and document retention requirements with respect to assignments of purchase agreements.

If assignments are permitted, developers must include — in specific language set out in the Regulation — the following in their purchase agreements:

  • A term prohibiting any assignment of the purchase agreement without the developer’s prior consent.
  • A notice that, before the developer consents to an assignment of the purchase agreement, the developer will be required to collect from the proposed parties to the assignment agreement certain information and records (Required Information).
  • A term requiring that all proposed parties to an assignment agreement provide the Required Information to the developer.

Before developers can consent to an assignment, they must collect, from each proposed party to the assignment agreement, all Required Information. The Required Information includes identity of the parties; contact and business information; terms of the assignment agreement; and other personal information similar to what is currently required to be reported under the Property Transfer Tax Act, including:

  • For individuals: name; date of birth; citizenship; residency; social insurance number/individual tax number; postal address; principal residence address; phone number; and email address.
  • For corporations: name; business number; head office address; and contact information for an individual who may be contacted to answer questions.
  • For trustees of a trust: information about the trust including name; account number and residency for tax purposes; and information about the trustee including name; address; principal residence or head office; phone number; and email address.
  • For partners of a partnership: information about the partnership including name; account number for tax purposes (if none, name and tax information for each partner); and information about each partner that is a proposed party to the assignment including name; address; principal residence or head office; phone number; and email address (or, if none, name; address; principal residence or head office; phone number; and email address of an individual who may be contacted to answer questions).

The above information is not legal information or legal advice, and is for general reference only. Please download a copy of the 3rd Amendment to the Disclosure Statement for more information.

 

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