Caveat Emptor – Buyer Beware is the Foundation of Real Estate Law in Nova Scotia

Real Estate law in Nova Scotia is grounded in the very old legal concept, ‘caveat emptor’, which is ‘Buyer Beware’. The idea being, no one is forcing you to buy the property, so before you sign on the (digital) line, the onus is on you to ensure you really want what they are selling. From that logic, comes the rule that the current property owner only has to disclose latent defects to a potential purchaser.

Patent Defects – Easily Discoverable

A Patent Defect is one that should be able to be discovered by a reasonably prudent purchaser without significantly disrupting the property. An example would be a dent in a wall or a missing piece of siding). A seller has no obligation to point out these defects, because in theory, the purchaser should be able to discover them, themselves. However, a seller does have an obligation to not deliberately cover up these defects. For example, if there’s a leak in the basement and the seller chooses to simply replace the ruined flooring but not fix the source of the leak, then they would have the obligation to disclose the leak.

Latent Defects – Not Easily Discoverable

The opposite is a latent defect. A latent defect is one that is not easily discoverable, for example a known foundation leak that is not visible to the naked eye. A seller does have an obligation to disclose a latent defect – if they are aware of it. Obviously, they can not tell a potential buyer about a defect they are not aware of.

Do your Due Diligence to Protect Yourself

It’s important to understand that when you’re buying a property in Nova Scotia, the onus is on you to ensure that you know what you are buying. Take advantage of the opportunity to do a thorough home inspection and ask any questions that arise after reading the Property Disclosure Statement.

If you’re not sure whether it’s worth it to insert conditions allowing you to do a home inspection and requiring the seller to provide a Property Disclosure Statement, read our blog: How Do I Protect Myself from ‘Invisible Issues’ when Buying a Property in Nova Scotia?

By: Dianna M. Rievaj, Founding Lawyer

 Have Questions For Us?:

If you have any questions about issues with a real estate purchase, you can call us at (902) 826-3070 or email us at info@highlanderlaw.ca to set up a meeting with one of our lawyers at our Tantallon law firm. You can also schedule a no commitment Issue Review Consult for $250+HST where you have the opportunity to explain your situation to a lawyer and get basic advice before deciding whether or not you'd like to retain us.

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