Sentences with phrase «estate corporation if»
Remuneration may be paid to the controlling individual from the personal real estate corporation if all of the requirements of section 10.6 of the Real Estate Services Regulation are met.
https://www.recbc.ca/ Not exact matches
Perhaps like German corporations or German real estate, if they were to pull out their currency would appreciate, but if they stay in there could be more inflation generated to ease to burden of debt across the Eurozone.
(B) «Credit repair services organization» does not include: (i) Any person authorized to make loans or extensions of credit under the laws of this state or the United States who is subject to regulation and supervision by this state or the United States; (ii) Any bank or savings and loan institution whose deposits or accounts are eligible for insurance by the Federal Deposit Insurance Corporation or the Savings Association Insurance Fund of the Federal Deposit Insurance Corporation; (iii) Any nonprofit organization exempt from taxation under Section 501 (c)(3) of the Internal Revenue Code of 1986; (iv) Any person licensed as a real estate broker by this state if the person is acting within the course and scope of that license; (v) Any person licensed to practice law in this state if the person renders services within the course and scope of his or her practice as an attorney; (vi) Any broker - dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission if the broker - dealer is acting within the course and scope of those regulatory agencies; or (vii) Any consumer reporting agency as defined in the federal Fair Credit Reporting Act (15 U.S.C. 1681 - 1681t).
If you have significant corporate assets, you can consider an estate freeze, whereby your ownership in the corporation is frozen at the current value.
While this city doesn't have a huge number of corporations, the top employers include local government, the health care sector, retail, and real estate, making it a great place if you are interested in working directly with your local community.
«Credit Services Organization» does not include any of the following: (i) a person authorized to make loans or extensions of credit under the laws of this State or the United States who is subject to regulation and supervision by this State or the United States, or a lender approved by the United States Secretary of Housing and Urban Development for participation in a mortgage insurance program under the National Housing Act (12 U.S.C. Section 1701 et seq.); (ii) a bank or savings and loan association whose deposits or accounts are eligible for insurance by the Federal Deposit Insurance Corporation or the Federal Savings and Loan Insurance Corporation, or a subsidiary of such a bank or savings and loan association; (iii) a credit union doing business in this State; (iv) a nonprofit organization exempt from taxation under Section 501 (c)(3) of the Internal Revenue Code of 1986, [FN1] provided that such organization does not charge or receive any money or other valuable consideration prior to or upon the execution of a contract or other agreement between the buyer and the nonprofit organization; (v) a person licensed as a real estate broker by this state if the person is acting within the course and scope of that license; (vi) a person licensed to practice law in this State acting within the course and scope of the person's practice as an attorney; (vii) a broker - dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission acting within the course and scope of that regulation; (viii) a consumer reporting agency; and (ix) a residential mortgage loan broker or banker who is duly licensed under the Illinois Residential Mortgage License Act of 1987.
Canadian residents (who are not US citizens) may be subject to US estate tax if they die owning certain US assets, such as shares of US corporations, US real estate and US business assets.
Foreign shareholders (i.e., nonresident alien individuals and foreign corporations, partnerships, trusts and estates) are generally subject to U.S. withholding tax at the rate of 30 % (or a lower tax treaty rate) on distributions derived from net investment income and short - term capital gains; provided, however, that U.S. source interest related dividends and short - term capital gain dividends generally are not subject to U.S. withholding taxes if the fund elects to make reports with respect to such dividends.
No firms gain more by dragging out litigation than the big firms because they have the clients with the tens and hundreds of millions of dollars of capitalization who can afford, with the help of the taxpayer, to pay the astronomical fees they charge for as long as it takes to take on similar corporations similarly represented, or to squash the little guy (which is why FCT has McCarthy's on retainer and Stewart has Borden's on retainer — the given real estate file / title insurance claim is small potatoes but the title insurers make it dead obvious that if you sue them, you will up against a Big Firm.
As Bloomberg News reports, the Tax Reform Act will be very good for rental property owners and landlords if they do business via pass - through entities — real estate investment trusts, partnerships, limited liability companies, and S corporations — all of which are set to get big tax breaks in the Act.
Legal estate in the land and all rights and interests incident to that legal estate are vested in the Aboriginal Corporations: s. 6,7 (can be registered as if it were a grant of freehold title s. 10).
A natural person, a corporation through its officers, a partnership through its partners or a limited liability company through its members or managers that deals in selling, exchanging, purchasing, renting, leasing, managing or pledging the person's or entity's own property, including cemetery property and membership camping contracts, and that does not receive special compensation for a sales transaction or does not receive special compensation or other consideration including property management fees or consulting fees for any property management services performed, if the majority of an officer's, partner's, member's or manager's activities do not involve the acts of a real estate broker,
Each sole proprietor, partner or corporate officer of the real estate firm who is actively engaged in the real estate business within the state where applying for membership or within the state in which the real estate firm is located shall be required to become a REALTOR ® member if any other principal of such firm, partnership or corporation is a REALTOR ® Member with those states, provided, however, in the case of a real estate firm, partnership or corporation whose business activity is substantially all commercial, each sole proprietor, partner, corporate officer actively engaged in the real estate business in connection with the same office or any other offices within the jurisdiction of the local board in which one of the firm's principals holds REALTOR ® membership shall also be required to become a REALTOR ®.
If I see a sign that «looks like a corporation» on a lawn as a «for sale» sign, I immediately — rightly or wrongly — think «this must be a REALTOR (r)»... because as a member of the public I don't know that not all real estate salesmen are REALTORS (only the ones who pay dues to CREA / OREA, etc. can use that term).
If the union in the real estate profession is flourishing, and most salespeople become union members, the big franchise corporations will have a hard time surviving.
If the licensed entity is a corporation, the process for making a transition to a new managing broker could be addressed in the corporation's bylaws, and may be as simple as appointing a new managing broker and filing the necessary paperwork with the real estate commission.
His research, which appeared in the fall 2012 issue of Real Estate Economics, concludes that many corporations might be better off financially if they leased space.
Not caring in some ways means the business is, then, rather sociopathic which could mean that the industry as a whole is somewhat mentally ill (corporations are deemed persons; the real estate industry is similar) if it states it is caring, but only when it makes itself appear caring to outsiders.
If there is no real estate component in the sale of a business by assets or sale of 100 % of the shares of the corporation that owns the business, or in circumstances where there is the sale of less than 100 % of the shares, licensees must advise the party that engages the licensee to list and sell the business that they are not acting as a licensee and that the licensee is not regulated under RESA in relation to the sale, including holding the deposit.
Additionally, the licensee is permitted to manage rental real estate owned by a corporation if the shareholders are limited to the licensee or the licensee's spouse, family partner, son, daughter, or parent.
Under section 9 - 3 of the Rules, a licensee may provide strata management services to a maximum of two strata corporations in which the licensee owns a strata lot without the need to comply with RESA, the Real Estate Services Regulation, and the Rules, if the licensee:
(i) if the transaction involves the acquisition of disposition of 100 % of the issued and outstanding shares in the capital of a corporation that has a real estate component (sale or lease of real property, including an assignment of lease), a real estate licence is required by third parties providing trading services in relation to the transaction; i.e., this is considered a trade in real estate;
If the licensee is managing rental real estate owned by a corporation, and the licensee is the only shareholder of the corporation, the licensee must provide written notice to the licensee's managing broker that the licensee will be providing rental property management services to or on behalf of that corporation.
(ii) if the transaction involves the acquisition of disposition of 100 % of the issued and outstanding shares in the capital of a corporation that does not have a real estate component (sale or lease of real property, including an assignment of lease), a real estate licence is not required by third parties providing trading services in relation to the transaction; i.e., this is not considered a trade in real estate; or
This advice would also be applicable if licensees are involved in the sale of a business that initially involves the sale of assets with a real estate component which would require a real estate licence but subsequently changes to the sale of less than 100 % of the shares of the corporation owning the real estate which would not require a real estate licence.
If you are seeking compensation through the courts, you must provide written notice of the court proceeding to the Council and to the Real Estate Compensation Fund Corporation (RECFC).
If a licensee is the sole shareholder of a corporation that owns rental real estate and the licensee provides rental property management services to the corporation, the licensee must also provide written disclosure to the licensee's managing broker that the licensee will be providing rental property management services to or on behalf of the corporation.
If you have a personal real estate corporation, does the advertisement include the name of the personal real estate corporation?
123 (1) Subject to subsection (2), all information supplied and all records and things produced to the real estate council, a hearing committee, the superintendent, the insurance corporation or the compensation fund corporation with respect to a licensee, a former licensee or an applicant for a licence are privileged to the same extent as if they were supplied or produced in proceedings in a court, and no action may be brought against a person as a consequence of the person having supplied or produced them.
10.6 (1) Despite section 7 (1)(b), (3) and (5) of the Act, a controlling individual may be engaged by a personal real estate corporation to provide real estate services on behalf of a brokerage, and may receive remuneration in relation to those real estate services from the personal real estate corporation, if all the following requirements are met:
(5) Subsection (3) does not absolve the real estate council, government, foundation, insurance corporation or compensation fund corporation, as applicable, from vicarious liability arising out of anything done or omitted by a protected individual for which it would be vicariously liable if that subsection were not in force.
(2) Without limiting section 13 of the Act, the real estate council may refuse to issue a personal real estate corporation licence if the real estate council considers that it would not, in the circumstances, be in the public interest for real estate services to be provided by the corporation.
(2) If the licence of a controlling individual is suspended or cancelled, the licence of the controlling individual's personal real estate corporation is suspended or cancelled as of the time at which the controlling individual's licence is suspended or cancelled.
(4) If the real estate council reinstates a personal real estate corporation licence under section 22 (2) of the Act or section 10.7 (3) of this regulation, it must reinstate, with any necessary amendment, the controlling individual's licence that became inoperative under subsection (3) of this section.
10.4 (1) A personal real estate corporation licence may be issued to a corporation that has the attributes described in section 10.3 only if
10.3 A corporation may be licensed as a personal real estate corporation in accordance with this Part if it has all the following attributes:
the personal real estate corporation is subject to discipline proceedings and other regulatory enforcement under Part 4 of the Act in relation to that conduct as if the personal real estate corporation had committed the conduct.
(2) If a personal real estate corporation ceases to have any of the attributes described in section 10.3, the licence of the corporation becomes inoperative.
(3) On application of a personal real estate corporation whose licence has become inoperative under subsection (2), the real estate council may reinstate the licence if it is satisfied that the corporation meets all of the requirements of section 10.3.
116 (1) If the capital of the special compensation fund at any time falls below the minimum amount of capital prescribed for the purpose of this section, the compensation fund corporation must immediately advise the real estate council.
For example, if you apply to transfer your licence to another brokerage, you must also apply to transfer your personal real estate corporation licence at the same time.
If licensees have specific questions or concerns about the allowable activities of a personal real estate corporation, they should obtain independent accounting and / or legal advice.
If you no longer wish to be licensed as a personal real estate corporation, follow these steps to terminate the licence:
2 - 22.1 A personal real estate corporation must promptly notify the council in writing if it does not continue to maintain the attributes described in section 10.3 [corporate qualifications] of the regulation.
If a licensee decides that the personal real estate corporation model works for their particular situation, then the manner in which remuneration is paid changes.
As a licensee with a personal real estate corporation, if you apply to change anything on your licence, you must also apply to make the same change on the personal real estate corporation licence.
These exemptions are not available to personal real estate corporations, meaning for example, that if a personal real estate corporation does own rental real estate in its name, the personal real estate corporation may only provide rental property management services with respect to that real estate through the brokerage with which the personal real estate corporation is engaged.
If your goal is to develop, buy, sell or lease commercial real estate, CSM Corporation will be your full - service partner.
If the controlling individual is currently licensed and is only registering a personal real estate corporation and not making any other amendment to their licence (ie: transfer, renewal, category change, etc.), they must:
If your individual licensing, E&O, Superintendent of Real Estate assessment fee and Compensation Fund fees are normally $ 1660 for two years, having a personal real estate corporation means that the licensing fees, E&O, Superintendent of Real Estate assessment fee and Compensation Fund fees would be $ 3320 every two Estate assessment fee and Compensation Fund fees are normally $ 1660 for two years, having a personal real estate corporation means that the licensing fees, E&O, Superintendent of Real Estate assessment fee and Compensation Fund fees would be $ 3320 every two estate corporation means that the licensing fees, E&O, Superintendent of Real Estate assessment fee and Compensation Fund fees would be $ 3320 every two Estate assessment fee and Compensation Fund fees would be $ 3320 every two years.