Your Interests. Protected.
The first-of-its kind in Canada, the Land Owner Transparency Registry (LOTR) is a registry of information about individuals who are deemed to have an indirect As defined in LOTA, this term refers to an estate in fee simple; a life estate in land; a right to occupy land under a lease that has a term of more than 10 years, or a right under an agreement for sale to occupy land, or require the transfer of an estate in fee simple. interest in land (e.g. through corporations, trusts and partnerships) which will be housed in a searchable, public database.
Beginning November 30, 2020, LOTA requires that any time an application is made to register an interest in land in BC’s land title register, a A declaration that is filed by each transferee together with an application to register an interest in land, stating whether the transferee is a reporting body and, if the transferee is a reporting body, whether the reporting body is a relevant corporation, a trustee or a relevant trust, or a partner of a relevant partnership. transparency declaration must be filed to the LOTA Administrator by each An individual to whom an interest in land is transferred. transferee . A transferee that is a A relevant corporation, a trustee of a relevant trust or a partner of a relevant partnership that is required to file a transparency report under LOTA. reporting body must also complete and file a A report that is filed with a transparency declaration on an application to register an interest in land, if the transferee is a reporting body. transparency report setting out information about the reporting body and its A beneficial owner of a relevant trust, a corporate interest holder of a relevant corporation, or a partnership interest holder of a relevant partnership interest holders . Existing reporting bodies with an interest in land will need to file an initial transparency report by November 30, 2021. The administrator will maintain all filed transparency declarations and transparency reports in LOTR in accordance with rules established in LOTA.
Visit the Government of British Columbia’s information page.
Important dates to remember:
|November 30, 2020
|Required filings to LOTR begin
|April 30, 2021
|Search of information in LOTR begins
|November 30, 2021
|Deadline for existing reporting bodies with an interest in land to file an initial transparency report