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ARTICLE · 20 NOVEMBER 2018

British Columbia To Introduce Condo And Strata Assignment Integrity Register: What Developers Need To Know

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British Columbia's NDP government (the "Government") will soon introduce measures aimed at cracking down on real estate tax evasion as part of the housing strategy set out in its Homes...

CanadaReal Estate and Construction
Kenneth D. Howe
Kenneth D. Howe
Paulina Kam
Paulina Kam
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A.  Implementation and Overview of the Presale Contract Assignment Register

British Columbia's NDP government (the "Government") will soon introduce measures aimed at cracking down on real estate tax evasion as part of the housing strategy set out in its Homes for BC: a 30-point Plan for Housing Affordability in British Columbia released on February 20, 2018. The Real Estate Development Marketing Amendment Act, 2018 received royal assent on May 31, 2018 and the Government subsequently introduced Order in Council No. 586 on November 5, 2018.
Effective January 1, 2019, these measures will amend the Real Estate Development Marketing Act (S.B.C. 2004, c. 41) to create a framework for the mandatory disclosure of presale condo and strata assignment information and will create a mechanism for the collection and storage of such information by establishing the Condo and Strata Assignment Integrity Register ("CSAIR").

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