Originally, the Working Group developed a series of practice and service principles intended to apply to the residential real estate transaction. We believed that the public should be made aware of the lawyer’s essential role in the transaction and what options are available when using a lawyer to purchase, sell or refinance real estate. These principles can be viewed by clicking on the link below.
After the creation of these principles, the LSO formed its own working group, the then LSUC's CEO's Working Group on Real Estate Issues ("CEO's Working Group") that included our own Co Chairs, Ray Leclair and Clare Brunetta. The CEO's Working Group decided to expand upon the Practice Principles and create a more comprehensive set of Practice Guidelines.
Real Estate Practice Guidelines
The Law Society of Ontario in conjunction with the Working Group convened a series of meetings in various centres across the Province with members of the practicing bar to receive comments and suggestions on the Guidelines. The proposed Practice Guidelines were generally well received and acknowledged as the standard that a conscientious practitioner should maintain in any typical transaction.
After these consultations, the Working Group participated with the LSO in the formulation of the Practice Guidelines which were approved by Convocation on January 25th, 2007.
Shortly after approval of the Guidelines, a series of changes to the Rules of Professional Conduct were also approved by Convocation. The Working Group feels that these changes are consistent with and complementary to the Practice Guidelines.