The B.C. government has
announced a one-year extension to the deadline for pre-existing
owners to file with the Land Owner Transparency Registry
("LOTR"). Reporting bodies with an
interest in land will now have until November 30, 2022
to file a transparency report without incurring penalties. The
government has explained that the rationale behind this extension
is to give pre-existing owners more time to gather information
about ownership and prepare to file with the registry. As we have
addressed in previous
articles, corporations, partnerships, and trusts which have
held an ownership interest in land prior to November 20, 2020, are
required to publicly file a transparency report which lists the
property's 'true owners'.
