Copy
View this email in your browser

REMINDER: Transparency Report Required from Reporting Bodies by November 30, 2021

A transparency report must be filed by a legal professional for all pre-existing owners who are reporting bodies (relevant corporations, partnerships and trusts) by November 30, 2021. Only a transparency report is required; do not file a transparency declaration. This requirement applies to all reporting bodies with an interest in land acquired prior to the Land Owner Transparency Act (LOTA) coming into force on November 30, 2020.

A transparency declaration is only required with an application to register an interest in land as defined in LOTA.

Visit landtransparency.ca for information on how to file a stand-alone transparency report.

Find Out More

LOTA Information from the Province of BC

The Province of British Columbia has published resources for LOTA including information about the interpretation and enforcement of the Act. 

The resources include helpful information about how to understand indirect control when determining the interest holders of a reporting body. Several indirect ownership structures are described, with new scenarios added on an ongoing basis.

Visit gov.bc.ca

LOTR Filings in August 2021

In August, LOTR received 19,593 transparency declarations related to registering an interest in land and 2,226 transparency reports from reporting bodies. Since required filings began on November 30, 2020, LOTR has received a total of 172,754 transparency declarations and 18,882 transparency reports.

LOTR was established in support of the Province’s comprehensive plan for eliminating hidden ownership of real estate in BC. The Land Title and Survey Authority of BC is responsible for developing and operating LOTR as set out in LOTA.

Twitter
Facebook
LinkedIn
Instagram
Copyright © 2021 Land Title and Survey Authority of British Columbia, All rights reserved.

LTSA Customer Service Centre: 

Call 604-630-9630 in Greater Vancouver area, or 1-877-577-LTSA (5872) elsewhere in BC, Canada and the US. 

Corporate Office:
Suite 200 - 1321 Blanshard Street
Victoria, British Columbia
Canada  V8W 9J3


update your preferences or unsubscribe from this list.