Land Owner Transparency Act

Irina Bartnik Notary Public • October 13, 2020

As of November 30 this 2020, a new Act will be affecting some Real Estate transactions.



According to this new regulation, if individual has an interest in the Real Estate, but is not registered as an owner on the Title, this individual will need to file a declaration with Land Title office. That individual, will need to declare his/her status/role with that property. It seems that our B.C. Government thinks or believes that the Real Estate market in is manipulated by the "invisible people" who have control over the Real Estate, and who are not known to the government ( for Tax purpose). 


Most of the time it relates to a situation where a Numbered Company (Corp. or LTD), owns the Real Estate, and where the ownership is registered in the company name, but the Director of the company is the person that actually controls the Real Estate.


The interesting part or this regulation is, that this Act will not only affect new registrations of the Real Estate, but will also apply to the Real Estate that is currently owned and was purchased in the past. Existing "beneficial" owners will have one year to register this declaration in order to comply with this Regulation. If they are not registered in time, the penalties will apply.



This regulation extends beyond the Numbered Company compliance and also applies to individuals and families. For example: if two people (a Family) are buying a property, but only one person goes on Title and the Mortgage, the person that is NOT going on title, will still need to file this declaration. This situation will sometimes exist where one of the spouses does not qualify for the mortgage. 


In order to be in compliance with this Act, Please make sure that you contact your Notary or Lawyer and make sure that this regulation does not apply to your current situation.

Sincerely,

Irina Bartnik

Notary Public

604.575.7494

A guide to appealing your BC Assessment value

By Zak Khan | REW • December 22, 2025
Every January in BC, BC Assessment sends its valuations to property owners. These letters form the basis of property tax values on real estate across the province. They are based on many factors, but sometimes the assessed value may come as a shock to you. If this is the case, and you feel the assessment is incorrect, you can file an appeal. Why your BC Assessment value may not be what you expect. To help equip yourself for the best chance of success during an appeal, it’s best to review some reasons why your assessed value may not be what you expected. BC Assessment bases its valuations on the following factors: The location of the property. That is, how desirable is the place it’s located? The size of the property. Is it a tiny house or a multi-room mansion? The size of the lot. Is it a small lot, or a massive multi-acre estate? View from the home. A mountain view is worth more than a line of dumpsters. The property age. Is it newly built or an outdated structure? It could also be historically valuable. Home add-ons such as carports, garages and decks. The sales’ prices from similar homes in your area. In essence, that means that surrounding properties can have an impact on your property value, in addition to your own property. For example, if all your neighbours improve their properties by renovating their homes, upgrading landscaping and similar efforts, this could increase your assessed value as a knock-on effect. In situations like this, filing an appeal to show that you didn’t undertake similar efforts could help your appeal succeed. 👉 Read the Article Here

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