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An Update on Electronic Signatures

April 15, 2013 - Updated: April 15, 2013

 


 

RE/MAX CROSSROADS RULES & REGULATIONS BULLETIN:

 

An Update on Electronic Signatures

 

 

CREA announced on February 1, 2013 that it will soon be providing an integrated solution for electronic signatures through WEBForms™.  CREA and OREA are working together to have the Ontario legislature amend the Electronic Commerce Act, 2000.   The passed amendment to this Act would allow an electronic agreement of purchase and sale to meet a specific writing requirement under the Statute of Frauds, 1990.

 

CREA has already secured special pricing for CREA members with Instanet Solutions and are also finalizing negotiations with a second supplier who will offer members a choice for those wanting the security and audit trail that comes with an e-signature package. 

 

Background:   OREA’s Efforts to Amend the Electronic Commerce Act, 2000

 

Since 2011, OREA has lobbied the Ontario government to repeal the existing exception of real property transactions, including agreements of purchase and sale, from the application of the Electronic Commerce Act, 2000, S.O. 2000, Chapter 17 (the “ECA”).

 

Although the ECA does not prohibit the use of electronic agreements of purchase and sale, there is a specific requirement under the Statute of Frauds, R.S.O. 1990, Chapter S.19, that a contract for the sale of land must be in writing to be enforceable

 

The exception of real property transactions, including agreements of purchase and sale, from the application of the ECA makes it uncertain whether an electronic agreement of purchase and sale meets the writing requirement under the Statute of Frauds.   Therefore, the removal of the exception to the ECA  (as lobbied by OREA) would allow for an electronic agreement of purchase and sale to meet that writing requirement.

 

Now that the Ontario legislature has resumed sitting, amending the ECA will continue to be a priority for OREA heading into the new session.

 

 

View the full OREA notice.

 

 


Tagged with: crea e-signatures electronic signatures webforms
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