December 14, 2007
Province Announces Independent Review On Homes Purchased Under 1997 Flood Protection Program
Finance Minister Greg Selinger today announced an independent review of homes purchased under the 1997 flood protection program as well as disclosure requirements in real estate transactions.
The review will be conducted by John Neufeld, a real estate lawyer with Smith, Neufeld, Jodoin LLP of Steinbach. Neufeld is also a lecturer in real estate law at the law school at the University of Manitoba.
“We received information about serious concerns with one of the homes purchased through this program,” said Selinger. “We believe the specific issues related to this home need to be examined independently as well as the law and practice surrounding disclosure requirements in real estate transactions.”
The review will examine:
· details of the specific case in question,
· past and present policy and procedures within government on disposal of surplus housing and whether any changes should be made, and
· current Manitoba law and practice concerning disclosure of the condition of homes during real estate transactions and whether any changes should be made.
The review will also recommend an action plan with respect to other homes sold by the province under the program.
“We are presently dealing with matters that happened many years ago and we need to have an independent set of eyes review these matters,” said Selinger. “I look forward to the recommendations on the specific cases as well as on the overall policy issues of disclosure in real-estate transactions.”
The independent review is expected to provide its recommendations to the minister in the spring of 2008.
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