No. of Recommendations: 2
It seems like you'd need to see the terms of the agreement. It might be something that gives the tribes some form of actual ownership interest title in the lands.....but that seems like an utterly implausible outcome.The financing part?
Already happening. Loads of loans are being held up in the Vancouver area because no one is sure who owns what:
ainvest.com - Indigenous ruling spurs legal uncertainty derails developer financingLegal and Financial Implications for Developers
Montrose Property Holdings had been in advanced discussions with lenders to secure $35 million in financing for a new industrial warehouse in Richmond. The company said it could no longer confirm clear title to its land, a requirement in lending agreements with financial institutions and pension funds. This has effectively halted the project, as developers rely on the ability to borrow against real estate to fund large-scale developments.In another post I linked how the tribes are asserting their ownership of the land...over people who had no idea the tribes were the real owners.
A far more plausible outcome is that the feds and the tribes have clarified what "aboriginal title" actually means in a way that doesn't confer an ownership interest that would affect financing or formal transfers of property. IOW, that this is the tribes settling in a way that gives them something but doesn't cloud title.
The latter point seems far more likely than the idea that the federal government would voluntarily do something that gave the tribes everything they wanted in the original lawsuit, particularly since the federal government fought that lawsuit below and appealed it when they lost.Except that...no one knows. And that's part of the point. Given the ramifications of the ruling and any deals the Canadian government makes on behalf of the citizens who thought they owned property there should have been much more transparency.
