May 2022 Disciplinary Newsletter, Non-Resident Property Taxes, Electronic Signatures, & Deadline Reminders
May 2022 Disciplinary Newsletter
The Commission has released the May 2022 Disciplinary Newsletter. The newsletter serves as an educational tool for licensees in accordance with Commission by-law 839.
To read the newsletter, click HERE.
Non-resident Property Tax Removed, Deed Transfer Tax Remains
The Nova Scotia government issued a press release with an update on the non-resident property tax.
Government announced they will not be moving forward with the non-resident property tax. The non-resident property tax will be removed completely for all non-residents who own residential property in Nova Scotia. The non-resident deed transfer tax will proceed as planned. Both measures were introduced in the spring budget.
Electronic Signatures Require Time Stamps
Reminder to licensees that when submitting an offer to purchase or sell real estate, all signatures require the date of acceptance per section 30(2) of the Real Estate Trading Act.
If using an electronic signature platform that does not reflect the date of acceptance, it is required to maintain a certificate supporting the date of accepting/signing the document.
Important Deadline Reminders
Reminder to licensees of the following upcoming deadlines. Licensees who fail to complete their mandatory CPE and/or renew their licence before the deadlines will have their licences terminate effective July 1st, 2022 and must immediately cease all trading activities.
Mandatory CPE Course: June 15th
Any licensee that does not complete their course by June 15th will not be able to renew their licence and will not be eligible for renewal until the course is complete. The course will be unavailable from June 16th - July 11th.
Online Licensing Renewals: June 30th
The deadline for licensing renewals is June 30th, 2022. Licensees who have not yet completed their online licence renewal have been sent weekly reminder emails since renewals opened on May 10th.
Brokers are responsible for renewing the brokerage licence, audit fees, any branch office licences, their broker licence, and, if applicable, their approved sales corporation licence. All other licensees are responsible for renewing their real estate licence and, if applicable, their approved sales corporation licence. To verify if you have completed your licence renewal, you can check the licensee portal. Brokers also have access to the new brokerage licensing report for their brokerage.
If you need help, visit the Commission's Licence Renewal Resource page.