You have legally changed your name and you have a shiny new driver’s licence to prove it. But wait, you own property, and it is in your former name.  What should you do?  We can assist with updating your name on the title of your property. We would prepare a Land Title Office document called a Form 17 Fee Simple to perform the name change registration with the Land Title Office. We would meet with you in person to verify your ID and collect from you your original Vital Statistics Certificate proving your name change (ex. marriage certificate, divorce certificate, etc.). Where there a ..read more

“THIS JUST IN – OKANAGAN RESIDENT BARES ALL!” The Bare Necessities  A bare trust (aka naked trust) is a type of trust that separates the legal and beneficial ownership of a property.  It is sometimes referred to as a principal-agent relationship. The legal owner, also known as the bare trustee, is typically the owner on record, similar to the individual or corporation listed on the legal title of a house. The beneficial owner is the party that is entitled to the benefits and subject to the risks of the property. A bare trust arrangement is a legal concept so it is wise to contact you ..read more

This past week, the Province of British Columbia proposed restrictions on short-term rentals through the Short-Term Rental Accommodations Act.  These restrictions will most certainly present some significant changes in areas such as the Okanagan where a large number of properties are rented on a short-term basis, particularly during the high tourism summer months. For the purposes of the legislation, “short-term rental accommodation service” will be defined as follows: means the service of accommodation in the property of a property host, in exchange for a fee, that is provided to members ..read more

Strata properties have become more and more popular with the move in many areas to increased density.  These types of properties often give property owners the benefit of limited repair and maintenance work and may also give access to amenities that a single family home seldomly has.  There are often draws to condo and townhome units which may be less expensive than a single-family home and for many families and home buyers, these types of properties are an excellent choice.  That being said, a stratified property is different from the typical single-family home that most people ..read more

The year is 1987 and the Bangles’ “Walk Like An Egyptian” is the top hit on the Billboard 100.  This just so happens to be the same year that Premier Vander Zalm introduces the Property Purchase Tax, now known as Property Transfer Tax (“PTT”). You’ve purchased a home and/or you’ve acquired an interest in property that just so happens to be registered at the Land Title Office.  Unless you qualify for an exemption, you’re going to have to pay property transfer tax (start saving your pennies). Property Transfer Tax and is based on the fair market value of your property (land and improve ..read more

Under section 219 of the Land Title Act in British Columbia, a covenant can be registered against title to a property for the benefit of the Crown, a Crown corporation or agency, municipality, regional district and a few other specified bodies.  These instruments are useful for government to be able to impose restrictions on the use and development of a piece of land.  For this reason, it can be important to review these registrations on a title to ensure they don’t unreasonably limit the owner or prospective purchaser’s ability to take desired steps with the land.  As examples ..read more

Through the COVID-19 pandemic, the Land Title Office introduced remote signing options which assisted in situations where a party was unable to sign with a lawyer or notary in person for reasons related to COVID-19. The Land Title Office has recently announced that those remote signing options will be removed as of September 30, 2023.  As it currently sits, and while there may be different interpretations on this, the remote signing measures are only to be used where there is a safety risk with an in-person meeting.  This route is not to be used for convenience purposes.  In any ..read more

We frequently get asked if a party can sign their closing documents on a transaction electronically.  Generally, the answer is “no”, with some exceptions.  On a sale of property requiring a transfer in the Land Title Office, the transferor’s signature must be completed in ink on paper and, in most cases, must be signed in the presence of a lawyer, notary public, or other authorized witness.   For a purchase transaction, if there is a mortgage being registered as part of the transaction, the mortgage typically needs to be signed in the same manner as a land transfer (i.e. in ..read more

It is nearly the end of March which, for many BC residents, means two things: your crocuses are popping up, and your BC Speculation and Vacancy Tax declarations for the period ending on December 31, 2022 are due (deadline is March 31, 2023). If you’re living in the Capital Regional District, Metro Vancouver Regional District, Abbotsford, Mission, Chilliwack, Kelowna, West Kelowna, Nanaimo or District of Lantzville, this means you (as of now)! Notifications have been mailed to property owners and each includes the required declaration code along with a unique letter ID (fancy, huh?).  With ..read more

Guest blog article provided by Stewart Title Guaranty Company With heightened attention on title fraud lately, understanding the benefits and coverages of title insurance can help protect your most valuable asset – your home. Title insurance can protect against many losses that result from undetected or unknown title defects. Some Key Coverages include: Someone else owning an interest in the insured’s title Existing liens against the title Real property tax arrears for the period prior to your purchase of your home You are forced by a governmental authority (or in the case of encroachments by ..read more