Life Lease Project
A life lease is a hybrid type of tenure arising from a contract that permits a purchaser to occupy a residence for life in exchange for an initial lump sum payment and the payment of ongoing monthly sums (which can cover both operating expenses and rent, depending on the size of the initial lump sum payment). Typically, life lease buildings are apartment style buildings. Life leases are increasingly being used across Canada to create seniors’ housing projects, and they are frequently run by non-profit organizations or community groups. In Saskatchewan, residential tenancies legislation does not apply to life leases. The result is that the rights and obligations of lessees are governed by the type of ownership of the building and the terms of the contract entered into with the project sponsor. The Condominium Property Act, 1993 also does not apply to life leases. The Law Reform Commission is considering whether life lease legislation is required in Saskatchewan, and what types of provisions should be included in life lease legislation.
Real Property Security Law Project
Commissioner Professor Ron Cuming has completed a study respecting real property secured financing law. The objective of the study was to create a comprehensive statement of mortgage law and other types of real property security law in Saskatchewan including both the relevant statutory provisions and applicable rules of equity. This phase of the project was completed in late 2016 with the publication by Commissioner Professor Ron Cuming of a monograph entitled “Overview of Saskatchewan Real Property Security Law“ that is now available for purchase from Publications Saskatchewan.
Professor Cuming has also presented a report to the Commission entitled “Tentative Proposals for a Saskatchewan Land Charges Act” containing a proposed Land Charges Act and extensive commentaries. The proposed Act is designed to modernize, consolidate and codify most features of current real property security law. The Commission received and examined responses to the Tentative Proposal for a Land Charges Act report. A final version of the Report is expected to be sent to the Minister before the end of the current year.