News & Notices from the Superintendent of Real Estate
The latest news items and announcements from the Office of the Superintendent of Real Estate.
VANCOUVER – 0981478 B.C. Ltd., with Mark Chandler as its sole director, has been served with a cease marketing order as developer of the 92-unit Murrayville House development in Langley. The order was made on an urgent basis by Superintendent of Real Estate Micheal Noseworthy Friday, September 8, determining that the developer was non-compliant with the Real Estate Development Marketing Act (REDMA), and that it was in the public interest to make the order urgently without a hearing. Conditions in the order include:
- filing a new disclosure statement for all units that includes all material facts without any misrepresentation; and
- placing all deposit funds in a trust account held by a trustee.
The order remains in force until all conditions are met. The developer may require a hearing by the Superintendent or appeal the order to the Financial Services Tribunal. A copy of the full order is available from the Real Estate Development Marketing Enforcement Action website.
The Office of the Superintendent of Real Estate (OSRE) is a regulatory agency of the B.C. government that carries out the regulatory, oversight and enforcement duties of the Superintendent of Real Estate. It receives its authority from the Real Estate Services Act, the Real Estate Development Marketing Act and the Strata Property Act.