First introduced in 1987, British Columbia’s Property Transfer Tax, (PTT), is a land registration tax paid by a property buyer or owner when a property title is registered at the Land Title and Survey Authority (LTSA). The PTT is based on the fair market value of the property being transferred whether or not money changes…
Turning short-term rentals into homes for people is at the core of newly introduced B.C. legislation to regulate the rapidly expanding short-term rental market. “Anyone who’s looking for an affordable place to live knows how hard it is, and short-term rentals are making it even more challenging,” said Premier David Eby. “The number of short-term…
On November 21, 2022, the Office of the Premier of British Columbia announced changes to the Strata Property Act (“SPA”) impacting strata properties in British Columbia. Then on November 24, 2022 the BC Government passed amendments to the Strata Property Act which take immediate effect and immediately overrides any strata bylaw that restricts rentals in…
The Land Owner Transparency Act1 (LOTA) came into effect on November 30, 2020, and with it, the Land Owner Transparency Registry (LOTR). Now, with every change in title to a property in British Columbia, a transparency declaration must be filed with the Land Title and Survey Authority of British Columbia (LTSA). Individuals acquiring an interest…
