Law Times

PAGE 10 FOCUS June 15, 2009 • Law Times New standard form now available BY DARYL-LYNN CARLSON For Law Times t's offi cial — the working group on lawyers and real es- tate has fi nalized a new On- tario standard closing document. I Th e group is now setting out to communicate its availability to lawyers across the province. Th e document's completion follows consultation with law- yers after its release in February at an Ontario Bar Association real property section meeting. Th e group received a lot of feedback both formally and in- formally, says Ray LeClair, vice president of TitlePLUS, a divi- sion of LawPRO, who is also co- chairman of the working group. "It was just a matter of termi- nology," says LeClair. "So we did some streamlining and tweak- ing of things that, as drafters, we probably should have seen in the fi rst go-around." Th e documents were fi nal- Editor-in-Chief Harvey M. Haber, Q.C., LSM and numerous leading experts as contributors The long awaited new edition of a classic text Take advantage of the reliable and up-to-date guidance of 51of Canada's top commercial leasing practitioners of the day with Shopping Centre Leases, Second Edition! This collection of updated as well as new articles and precedents covers all aspect of commercial leasing: • Technology and Telecommunications Concerns • Pandemic Preparedness for Building Owners and Managers • Insurance for Shopping Centres • Leasing Aspects of the Franchise Relationship • Transfers of Lease, Assigning, Subletting and Change of Control • Operating Costs and other Additional Rents in a Commercial Lease from a Landlord's and Tenant's Perspective • Agreements to Lease, Letters of Intent and Term Sheets This resource includes numerous precedents to help you draft your own agreements and a table of cases to help you locate the decisions you need. Shopping Centre Leases - considered the definitive resource on the subject since its inception in 1976 Now updated, revised and renewed to bring you the same powerful guidance today. Order your copy today! Hardbound • 1,108 pp. • 2008 • $185 P/C 0279010002 • ISBN 978-0-88804-477-8 For a 30-day, no-risk evaluation call: 1 800 263 2037 or 1 800 263 3269 www.canadalawbook.ca Canada Law Book is A Division of The Cartwright Group Ltd. • Prices are subject to change without notice, to applicable taxes and shipping and handling. Haber_shopping centre(LT 1-4x3).indd 1 LT0715 ized April 2 by the working roup, which has 21 members, includ- ing eight executives, and is com- prised of representatives from the County and District Law Presi- dents' Association, the Ontario Real Estate Lawyers Association and the OBA's real property sec- tion across the province. Th e group was formed in re- sponse to proposed lender out- sourcing, which threatened to usurp the role of lawyers involved in real estate transactions. Along with the standard clos- ing document, the group also prepared a brief user guide ex- plaining that they're not to make any changes to the wording. "Th e documents are standard and that's the beauty of them," says LeClair. "We're trying to fa- cilitate things for lawyers so we don't want them to go off and do something diff erent. We want them to keep using whatever pro- gram they're using and just select a separate set of documents." He says lawyers can still make changes but they should be prop- erly noted. "If a lawyer wants to make changes, they need to black line them or write them in pen in capitalized terms but never remove things and it needs to be clear if there is a change." As well, the working group 6/10/09 10:03:00 AM Insurance and Risk Management in Commercial Leasing Finally, a resource that simplifies these complicated concepts Insurance and risk management issues in the commercial leasing context are highly technical, interrelated and often misunderstood. Insurance and Risk Management in Commercial Leasing is the first resource to simplify these complicated concepts. Find detailed discussion on: • the types of insurance that apply to landlords and tenants • risk that is excluded from coverage and factors that limit insurance proceeds or recovery • clarification on common misconceptions such as key differences between "additional insureds" and "additional named insureds" • the right to subrogate and waivers of subrogation • express and implied common law releases and indemnities • managing liability for pure economic loss and implications in the leasing community • the damage and destruction provisions of a lease and how they interrelate with the repair, insurance, indemnity and release provisions … and much more. This unique resource includes over 100 case commentaries, detailed analysis and references to applicable statutes from across Canada. It also includes numerous precedent provisions and drafting tips and a glossary of insurance industry terms to guide you through the process. This resource is a must for anyone who prepares, negotiates, reviews or administers commercial offers to lease and/or leases. ORDER your copy today Hardbound • 210 pp. • May 2009 • $98 P/C 0299010000 • ISBN 978-0-88804-483-9 has prepared a "Seminar in a Box" that lawyers can use to do presentations to fi nancial institu- tions, realtors, or client groups. Th e group also developed a rec- ommended fee schedule for real estate lawyers that coincides with the Law Society of Upper Cana- da's real estate transaction guide- lines and amendments to the Rules of Professional Conduct. To affi rm the fee schedule is le- gal, the working group obtained an advisory opinion from the Competition Bureau after some concerns by lawyers about a 1988 ruling against Kent and Waterloo counties that received an order of prohibition for setting fees. Th e diff erence, says LeClair, is the fee schedule is to be used as a guideline for lawyers and clients. Th e Ontario standard clos- ing document was developed after several regions throughout the province drafted their own standardized versions for local residential real estate transactions, including the bars in Windsor, Lincoln, Welland, Cambridge, Barrie, Hamilton, and Ottawa. Th e documents those regions developed were used as a starting point to create the new one that the group hopes will soon be used by all lawyers across the province. "Th e realm of infl uence of For a 30-day, no-risk evaluation call: 1.800.263.2037 Canada Law Book is a Division of The Cartwright Group Ltd. Prices subject to change without notice, to applicable taxes and shipping & handling. MICHAELOFF_Insurance and Risk Managemnt (LT 1-4x3).indd 1 LT0715 www.lawtimesnews.com 6/10/09 10:03:57 AM all of these forms was growing in many centres. So instead of having confl icting documents in the various regions, we'll have this standard document." Th e document is intended to expedite and simplify negotia- tions in transactions, which will translate into client cost savings. "We're hoping this becomes 'The documents are standard and that's the beauty of them,' says Ray LeClair. the standard to be used Ontario- wide, but this is not a mandatory program. Th is is an eff ort that a number of lawyers have thought would be a benefi t to be as effi - cient as possible," he says. "Th ere's always the pressure of fees so the idea here was if we could help out a bit, help the practitioner be more effi cient, it will allow them to keep those fees down." It should be especially use- ful in the Greater Toronto Area, where lawyers use a variety of documents provided by software companies that are all diff erent in format. As lawyers become fa- miliar with the document, they will no longer have to review the wording of the myriad of con- tracts they have to contend with. Th ey'll also be able to better ex- plain the terms and conditions to clients, says LeClair. Sally Burks of Perley-Robert- son Hill & McDougall LLP is a member of the working group's executive and chairwoman of the County of Carleton Law As- sociation real estate committee. She believes the fi nalization of the standard closing document is a signifi cant achievement, considering the number of rep- resentative groups, including the province's 47 law associations through the County and District Law Presidents' Association. "I don't think you can get 47 law associations together to agree and say it's perfect — somebody will always want to change a comma," says Burks. "But we had enough buy-in" from all member participants to move forward on the standardized document. She says lawyers were support- ive in order to reduce costs for clients. Burks also notes the new document will streamline trans- actions as it's based on title veri- fi cation through the Land Titles Registry, diminishing the use of declaration of possession docu- ments that are rarely used unless there is a problem with a title. Th e next challenge is pro- moting the document's use and communicating its availability. Th e CDLPA and other groups involved in its development in- tend to host information sessions throughout the summer. As well, a number of companies that pro- vide software for lawyers have agreed to make it available. Th e document is also at www. lawyersworkinggroup.com. LT Dawn Michaeloff

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