Any time an application is made to register an interest in land at the Land Title Office, a transparency declaration must be filed by each An individual to whom an interest in land is transferred. transferee .
Most of the terminology related to LOTR is set out in the Land Owner Transparency Act (LOTA).
The 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 indicate:
- Whether the transferee 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 ;
- If the transferee is a reporting body, whether the reporting body is a relevant corporation, a trustee of a relevant trust or a partner of a relevant partnership.
A transferee that is a 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 . Different information is required depending if the reporting body is a relevant corporation, partnership or trust.
Existing reporting bodies with an interest in land will need to file an initial transparency report. Each time the interest holders change, the reporting body must file an updated report.
The Land Owner Transparency Register (LOTR) transparency declarations and transparency reports are filed at the same time as an application is made to register an interest in land with the Land Title Office. However, they do not form part of the records of the Land Title Office and instead are stored within LOTR. Transparency declarations and transparency reports will generally be submitted to LOTR by legal professionals on behalf of their clients. When to Consult a Legal Professional
Exclusions From LOTR
Some types of land, organizations and individuals are not required to be registered in LOTR.
Examples of excluded lands are:
- Treaty lands of a Treaty First Nation
- Recognized self-governing First Nations lands (e.g., Sechelt, Nisga’a)
- Reserve lands
Examples of excluded organizations are:
- Public corporations (listed on stock exchanges)
- Strata corporations
- Government bodies
- Charitable trusts
Examples of excluded individuals are:
- Shareholders in private corporations with less than 10% of the corporation’s voting shares
- Members of First Nations
When to Consult a Legal Professional
The below list offers some examples of when you should consult a legal professional regarding your interest in land ownership.
- 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)
- You are a part owner of a company which is a part owner of another company which has a legal interest in land in BC
- Your company, which is based either inside or outside of BC, invests in real estate in BC
- There are changes to your company’s ownership, and your company has a legal interest in land in BC
- You or your company is transferring ownership of all or part of a legal interest in land in BC
- You have just purchased or inherited land in BC, such as a house or condo
- You are acting as executor on an estate which has a legal interest in land in BC
- You are not sure if you or your company needs to submit a transparency declaration or a transparency report
- You need help submitting a transparency declaration or transparency report, or an application to omit/change information
Fees For Filing
|Statutory Service under the Land Owner Transparency Act||Customer Fee|
|Filing of transparency declaration under any provision of the Act.||$5.00|
|Filing of transparency report under any provision of the Act.||$35.00|
Application under section 40 of the Act
[Application to omit information if health or safety at risk].
Application under section 42 of the Act
[Application to correct or change information].