(Ontario)
Question:
With a conditional offer in which the conditions are about to come off, what is the correct form (with Notice of Fulfillment) to change the date and add the spouse of the client to the offer?
Answer:
The Notice of Fulfillment was drafted to enable the parties to confirm that the transaction was unconditional in the case of a True Condition Precedent, where a third party was involved and the condition naturally could not be waived.
The Notice of Fulfillment will also work for Conditions Precedent, as will the Waiver.
No documentation is required at all for a Condition Subsequent.
Recently, the Superior Court of Justice in Ontario stated that transactions involving True Conditions Precedent do not require any documentation to proceed. The Condition is satisfied when the Third Party has made its decision, not sometime later when an NOF might be sent.
If you are changing a date or adding a party, you will require an Amendment to the Agreement.
Brian Madigan LL.B., Broker