Your Interests. Protected.
The first-of-its kind in Canada, 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.
Any time an application is made to register an interest in land, 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 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 trustee of a relevant trust; a corporate interest holder of a relevant corporation; or a partner of a relevant partnership interest holders . Existing reporting bodies with an interest in land will need to file an initial transparency report.
LOTR is currently scheduled to launch in late Fall 2020 once related legislation has passed.
Visit the Government of British Columbia’s information page
Download the LOTR Overview
Your legal professional can help with questions and registration. Here are a few examples of when to consult a legal professional:
- You are an owner of a corporation, trust or partnership that has a legal interest in land in BC (for example, an investment in commercial or residential real estate)
- Your company, which is based either inside or outside of BC, invests in real estate in BC
- You purchase or inherit land in BC, such as a house or condo
- You are not sure if you or your company needs to submit a transparency declaration or a transparency report
Delay in Launch of Land Owner Transparency Registry
The LTSA advises customers that the launch of the LOTR has been delayed to Fall 2020.
The launch of LOTR is dependent upon LOTA being brought into force by the legislature and its associated regulations. Due to the COVID-19 pandemic, changes to the Province’s legislative calendar resulted in this delay.