News Bulletin - November 9, 2018
CLARIFICATION—Clauses to be Struck and Initialed
Audit Guide—Questions and Answers
Modifications to the Audit Guide as of November 9, 2018
Office Closure: Remembrance Day
CLARIFICATION—Clauses to be Struck and Initialed
The Commission conveyed an initial interpretation to some licensees in August 2018 concerning two clauses in the Agreement of Purchase and Sale:
- Clause 3—Seller's Obligations
- Clause 6—Fixtures and Chattels (for transactions involving Vacant Land)
The interpretation was that these clauses could be left blank for situations where there were no seller obligations and where there were no fixtures or chattels for vacant land transactions.
This interpretation has been re-examined by the forms committee and staff, and it was determined that leaving clauses blank is not compliant.
Therefore, anytime a clause is not applicable, it must be struck and initialed by all parties unless the clause directs the parties to select one section of the clause, e.g. check (a) or (b).
Audit Guide—Questions and Answers
The Audit Program: A Guide to Real Estate Audits in Nova Scotia CPE course has been underway since September 2018. During this time, attendees of the course have submitted questions to the Audit Task Force regarding the Audit Guide.
To ensure all licensees have the benefit of the answers to the questions, the Commission has identified those of similar themes and assembled a Q&A section under the "Audit Program 2019" page on our website. We encourage all licensees to review these questions, with further questions to be directed to the Audit Task Force at This email address is being protected from spambots. You need JavaScript enabled to view it..
Modifications to the Audit Guide as of November 9, 2018
In the Commission's latest bulletin, sent on October 5, 2018, licensees were notified of modifications to the Audit Program: A Guide to Real Estate Audits in Nova Scotia*. There have since been additional modifications to the Audit Guide to provide further clarity to readers. These modifications have been bolded and include:
- the preamble under "File Review Process" in Chapter 4: Transaction Files; and
- the "Corrective Action and Administrative Penalties" chart in Chapter 7: Corrective Action.
*If you have any questions about the Audit Guide, please contact the Audit Task Force at This email address is being protected from spambots. You need JavaScript enabled to view it..
Click the link below to view the Audit Guide with the November 9 modifications and for more information.
2019 Audit Program—Link to Guide and Important Information
Office Closure: Remembrance Day
The Commission's office will be closed on Monday, November 12, in observance of Remembrance Day.
A reminder to all licensees the Nova Scotia Remembrance Day Act prohibits trading in real estate on Sunday, November 11.
To view the Remembrance Day Act in its entirety, click here.
