Land Owner Transparency Registry Publicly Searchable as of April 30, 2021
CATEGORY: Practice Tips
TAGS: Land Owner Transparency Act LOTR
The Land Owner Transparency Registry (LOTR) becomes publicly searchable on April 30 and guidance from the Real Estate Council of BC (RECBC) on how to use LOTR in real estate practice is coming soon. BCREA will support brokerages and REALTORS® in adapting their practice in accordance to the RECBC guidance once it’s available. In the meantime, Realtors can prepare by familiarizing themselves with LOTR and the new public search tool.
What is LOTR?
The first of its kind in Canada, LOTR is a registry of information on individuals and entities who have an indirect interest in land as defined in the Land Owner Transparency Act (e.g., through corporations, trusts and partnerships) which is housed in a soon-to-be searchable public database.
How to use the LOTR public search tool?
The LOTR public search will be accessible through myLTSA Explorer. Realtors (and the public) will be able to search by the name of a buyer or seller, or the parcel identifier (PID). A PID is a number that uniquely identifies a parcel of land in the land title register of BC. Searching by name will show the interests in land to which the person is identified as a reporting body, interest holder or settlor, while searching by PID will show the persons who are identified as reporting bodies, interest holders or settlors for that land.
What information is available to the public?
Not all information contained in LOTR will be available to the public. Information that’s publicly accessible is referred to as “primary identification information,” and will only include certain information about corporations and limited liability companies, individuals, and relevant partnerships. For an outline of what primary identification information will be available, click here.
Cost for using the public search tool
Similar to land title search fees, there is a $5 fee for every LOTR public search.
You can find more information on the LOTR public search tool at www.landtransparency.ca. If you’re a managing or associate broker interested in learning more about LOTR, we invite you to join us for the Managing Broker Community of Practice session on Wednesday, April 21, at 10:00 am PST – click here to register.
For updates on the RECBC guidance on using LOTR in real estate practice, keep an eye on this page and upcoming BCREA communications.
To subscribe to receive BCREA publications such as this one, or to update your email address or current subscriptions, click here.
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