Land Owner Transparency Registry Filing Extended to 2022
CATEGORY: Practice Tips
TAGS: Conveyancing Land Owner Transparency Act Land Owner Transparency Registry Land Title Services Authority LOTA LOTR Practice Tips Real Estate Practice
The Land Owner Transparency Registry (LOTR) filing deadline has been extended to November 30, 2022, without incurring penalties. This extension gives reporting bodies with interests in land more time to file a transparency report.
According to the BC government, they "heard from legal professionals in BC that pre-existing owners need more time to gather information about ownership and prepare to file with the registry."
In addition to the new deadline, Realtors should be aware of these requirements and advise their clients to speak to legal professionals for more details.
Since April 30, 2021, the LOTR has been a publicly searchable registry of records about individuals who have an indirect interest in land held through corporations, trusts and partnerships. LOTR aims to address housing affordability, end hidden ownership and crack down on fraud and money laundering in the province. The Land Title and Survey Authority administers the LOTR under the Land Owner Transparency Act (LOTA).
For more information about the LOTR and LOTA, here are some resources:
- Land Owner Transparency Registry
- Legally Speaking #533: A Whole Lot to Know About the Land Owner Transparency Act
- PODCAST: Episode 13 - What REALTORS® Need to Know About Land Owner Transparency
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