Share on LinkedInShare on LinkedIn

ARTICLE · 06 JUNE 2019

British Columbia Land Owner Transparency Act Becomes Law

In its 2018 budget, the British Columbia government stated it would track information about beneficial ownership of land in the province.

CanadaFinance and Banking

In its 2018 budget, the British Columbia government stated it would track information about beneficial ownership of land in the province. Interests in land are often held by corporations, trusts and partnerships, in which case the registered owner on title may not hold any beneficial interest, and there are currently no public records of beneficial interests.

On May 16, 2019, Bill 23, the Land Owner Transparency Act (the Act) received royal assent. The Act will create a publicly accessible registry of beneficial interests in land.

Interest in land

The primary obligations under the Act concern an "interest in land," which includes freehold interests, life interests, leasehold interests under leases with a term of more than 10 years, contractual rights to occupy land or require the transfer of a freehold interest and other interests prescribed by regulation. The obligations under the Act arise in relation to interests in land that are registered under the Land

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

About Norton Rose Fulbright Canada LLP

Norton Rose Fulbright is a global law firm. We provide the world's preeminent corporations and financial institutions with a full business law service. We have 3800 lawyers and other legal staff based in more than 50 cities across Europe, the United States, Canada, Latin America, Asia, Australia, Africa, the Middle East and Central Asia.

Recognized for our industry focus, we are strong across all the key industry sectors: financial institutions; energy; infrastructure, mining and commodities; transport; technology and innovation; and life sciences and healthcare.

Wherever we are, we operate in accordance with our global business principles of quality, unity and integrity. We aim to provide the highest possible standard of legal service in each of our offices and to maintain that level of quality at every point of contact.

For more information about Norton Rose Fulbright, see nortonrosefulbright.com/legal-notices.

Law around the world
nortonrosefulbright.com

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

See more popular content from