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Real Estate Developer Penalized for Breach of Undertaking and Failing to Report Strata Assignments

Vancouver, January 18, 2023 BC Financial Services Authority (“BCFSA”) has ordered a Richmond-based real estate development company to pay penalties after it failed to file information respecting assignments of purchase agreements in the Condo and Strata Assignment Integrity Register (“CSAIR”). An assignment is the transfer of the right to purchase the condo or other strata lot from one party to another.

Sandhill Homes Ltd. (“Sandhill”) and its director, Hardeep Kaur Sandhu, have been ordered to pay the following:

  • An administrative penalty in the amount of $44,000; and
  • Investigative costs totalling $3,900.

Between January 1, 2019, and March 31, 2022, BCFSA found that Sandhill missed 13 quarterly periods of filing assignments information and breached an undertaking to report assignments information in the CSAIR, contrary to the Real Estate Development Marketing Act (“REDMA”).

CSAIR is a database for assignments of purchase agreements of all residential condo and strata lots in B.C., including pre-sale lots and completed lots. It also includes certain personal information on the assignors and assignees. CSAIR reporting requirements begin when a developer first enters into a purchase agreement. Information must be filed in CSAIR within 30 days after the end of each quarter.

Sandhill must pay the penalties to BCFSA within 30 days of the execution of the Consent Order.

BCFSA protects the public by holding developers and providers of real estate services to high standards of practice. To report a concern regarding a real estate developer, visit: Report a Real Estate Concern | BCFSA


BC Financial Services Authority (“BCFSA”) is a Crown regulatory agency of the Government of British Columbia. BCFSA oversees the financial services sector which includes pension plans, mortgage brokers, real estate services, real estate development marketing, and financial institutions (credit unions and insurance and trust companies). BCFSA also administers the Credit Union Deposit Insurance Corporation of British Columbia (“CUDIC”).

Media Contact: 
Warren Mirko 
Communications Manager, (778) 783-4057, [email protected] 
Visit: www.bcfsa.ca