I am on title to my son’s property only because he needed my help for financing. Do we need to file something with the Land Ownership Transparency Registry by the end of this month?

Land Ownership Transparency Registry, Real Estate

Yes! If your son is the only beneficial owner of the property, then you are holding your interest in trust for him and you are required by law to file a Transparency Report in the Transparency Registry by November 30, 2022, or be subject to fines. If anyone owns land in BC that is not…

My two siblings and I own a piece of property as joint tenants.  Will it be a problem to be issued 3 separate cheques when we sell the property since my siblings both live out of Province? It sure would make it easier.

Real Estate

It is our office policy, and should be of most offices, to issue one cheque payable to all the parties on title when you hold it as “joint tenants”.  Joint tenancy means that you do not own an “undivided” 1/3 interest – the 3 of you own 100% of the property together jointly.  If you…