What You Need To Know About The Land Owner Transparency Act

The Land Owner Transparency Act (British Columbia) ("LOTA" or the "Act") received royal assent on May 16, 2019 and will be in force once regulations are passed. LOTA is part of the government's efforts to bring enhanced visibility on the ownership of land in British Columbia. Once the Act is operational, individuals and entities who directly or indirectly hold beneficial interests in British Columbia land will be required to disclose specific information such as place of residence, SIN number, tax residency, etc. The disclosure requirements will apply to all parties who fundamentally own and control land including corporations, partnerships and trusts. A portion of the information collected will be made available and publically searchable by way of registry administered by the Province's Land Title and Survey Authority ("LTSA").