Real Estate Act

HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Alberta, enacts as follows:

Interpretation
1 (1) In this Act,
(a)

“association” means the Alberta Real Estate Association, the Alberta Mortgage Brokers’ Association, the Alberta Association of the Appraisal Institute of Canada, the Alberta Assessors Association, the Canadian National Association of Real Estate Appraisers, the Building Owners and Managers Association of Edmonton, the Building Owners and Managers Association of Calgary, the Real Estate Institute of Canada and the division of the Real Estate Institute of Canada called the Institute of Real Estate Management or any successor organization to any of those associations or institutes;

(b)

repealed 2003 c31 s2;

(c)

repealed 2007 c39 s2;

(d)

“business of an industry member” means the trades of a real estate broker, the activities of a real estate appraiser referred to in clause (u.1) or the dealings of a mortgage
broker undertaken by an industry member;

(e)

“bylaws” means, except in section 67, bylaws made by the Council;

(f)(g)

repealed 2007 c39 s2;

(h)

“Council” means the Real Estate Council of Alberta established under section 3;

(i)

“Court” means the Court of Queen’s Bench;

(j) “dealing” means all or any of the activities of a mortgage broker referred to in clause (r);
(k) “executive director” means the executive director of the Council appointed under section 8;
(k.1) “former industry member” means a person who ceases to be an industry member;
(l) “Foundation” means the Alberta Real Estate Foundation continued under section 64;
(m) “Fund” means the Real Estate Assurance Fund continued under section 57;
(n)

“industry” means the real estate broker industry, the real estate appraiser industry and the mortgage broker industry;

(o)

“industry member” means any person who holds an authorization as a real estate broker, a real estate appraiser or a mortgage broker, or as any category or class of real estate broker, real estate appraiser or mortgage broker, issued by the Council;

(p) “Minister” means the Minister determined under section 16 of the Government Organization Act as the Minister responsible for this Act;
(q) “mortgage” means
(i) a mortgage
  (A) of real property,
  (B) of a lease of real property, or
  (C) of a mortgage of real property or a lease of real property,
or    
(ii) any charge
  (A) on real property,
  (B) on a lease of real property, or
  (C) on a mortgage of real property or a lease of real property
  for the purposes of securing the repayment of money or another consideration;
(r) “mortgage broker” means
(i) a person who on behalf of another person for consideration or other compensation
  (A) solicits a person to borrow or lend money to be secured by a mortgage,
  (B) negotiates a mortgage transaction,
  (C) collects mortgage payments and otherwise administers mortgages, or
  (D) buys, sells or exchanges mortgages or offers to do so,
or    
(ii) a person who holds out that the person is a person referred to in subclause (i);
(r.1) “partnership” means a partnership between or among individuals or corporations or both;
(s) “person” includes a partnership;
(s.1) “property management” includes any of the following:
(i) leasing or offering to lease real estate or negotiating or approving, or offering to negotiate or approve, a lease or rental of real estate;
(ii) holding money received in connection with an activity referred to in subclause (i);
(iii) advertising, negotiating or carrying out any other activity, directly or indirectly, for the purpose of furthering an activity referred to in subclause (i) or (ii);
(t)

repealed 2007 c39 s2;

(t.1) “purchase”, in respect of real estate, includes an exchange, an option, a lease or any other acquisition of an interest in real estate;
(u) “real estate” means
(i) real property,
(ii) leasehold property, or
(iii),(iv) repealed 2007 c39 s2,
(v) a portable dwelling, other than a holiday trailer or recreational vehicle wholly or mainly used for recreational purposes, that
  (A) is designed for use as and is used as a residence,
  (B) is mounted on or otherwise attached to its own chassis and running gear,
  (C) is capable of being transported on its own chassis and running gear by towing or other means, and
  (D) is situated on a site that is used or intended to be used, or that has been represented by the owner of the site as being intended to be used, for residential purposes;
(u.1) “real estate appraiser” means
(i) a person who, for consideration or other compensation
  (A) estimates the defined value of an identified interest in real estate,
  (B) signs a real estate appraisal report that makes an estimate referred to in paragraph (A) that is prepared by another person, and accepts responsibility for the report, or
  (C) provides real estate appraisal consulting services within the meaning of the regulations,
or  
(i) a person who holds himself or herself out as a person referred to in subclause (i);
(v) “real estate broker” means
(i) a person who, for another or others and for consideration or other compensation, either alone or through one or more persons, trades in real estate, or
(ii) a person who holds out that the person is a person referred to in subclause (i);
(w) “rules” means rules made by the Council;
(w.01) “sale”, in respect of real estate, includes an exchange, an option, a lease or any other disposition of an interest in real estate;
(w.1) “service agreement” means a contract that establishes the relationship between the parties as to the services and obligations to be performed by an industry member;
(w.2) “substantial interest” means an ownership interest in real estate of not less than 25%;
(x) “trade” includes any of the following:
(i) a disposition or acquisition of, or transaction in, real estate by purchase or sale;
(ii) an offer to purchase or sell real estate;
(iii) an offering, advertisement, listing or showing of real estate for purchase or sale;
(iv) property management;
(v) holding oneself out as trading in real estate;
(vi) the solicitation, negotiation or obtaining of a contract, agreement or any arrangement for an activity referred to in subclauses (i) to (v);
(vii) collecting, or offering or attempting to collect, on behalf of the owner or other person in charge of real estate, money payable as
  (A) rent for the use of the real estate, or
  (B) contributions for the control, management or administration of the real estate;
(viii) any conduct or act in furtherance or attempted furtherance of an activity referred to in subclauses (i) to (vii).
(2) None of the following constitute an offering, advertisement, listing or showing of real estate for the purposes of subsection (1)(x)(iii):
(a) the provision of information, forms and signs;
(b) the creation of a web page to market properties;
(c) the publication of a list of properties for disposition or acquisition.
(3) Repealed 2007 c39 s2.
 
RSA 2000 cR-5 s1;2003 c31 s2;2007 c39 s2

 

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