Does a vendor breach the trust condition in a real estate transaction?
Alberta, Canada
The following excerpt is from Westridge Developments Ltd. v. Can-Am Development Corporation Ltd., 1978 CanLII 789 (AB QB):
And, finally, on the issue of breach of the trust conditions counsel for the vendor submits that, when the trust condition regarding the demand to pay interest was stipulated in Ex. 2 by Touchings on behalf of his client, the vendor did not make use of this trust condition to enlarge upon or to alter the terms of the agreement or the vendor's rights at law or equity, but was only exercising his equitable right to receive interest from the date the purchaser took possession, based on the decision of Laczko v. Patterson, supra.
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