2008 March.Pmd
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April 2008 The The Register RegisterTHE NEWSLETTER OF WEST COAST TITLE SEARCH LTD. NUMBER 69 / 08 REGISTRY SERVICES • PROCESS SERVING APRIL 2008 In This Issue E-Filing BC Gazette Update WARNING Insertion Rates ....................... 3 Corporate Update Are Your Land Filing Federal NUANS Searches ....... 3 Options Threatened? Court Update Certificate of Judgment .......... 4 More and more frequently, we are hearing that electronic filing Number of Copies .................. 4 will soon be made mandatory, despite the Land Title and Survey Authority’s Requisitions ............................ 5 initial strategy to favour a gradual and voluntary approach. As you may know, Time Limitations .................... 5 mandatory filing would include the majority of land documents filed (if Trial Scheduling ..................... 5 not all) as well as survey plan packages. Turnaround Times for .............. Obtaining Copies ............... 4 Whether you rely on paper filing, electronic filing or both, you E-filing Warning know the various benefits of the two options. We think those benefits should continue to be available to you. The choice should be yours, not Are Your Land Filing Options Threatened? ......... 1 the result of a government ultimatum. Land Update West Coast believes in choice - choice of options and choice of Certified Copies ..................... 3 agents. We believe that choice encourages competition and competition Land Title Transfer results in better choices. We know from our 38 years of experience that Forms Guidebook ............... 3 one size doesn’t fit all. That is why even today, with e-mail, fax and the LTO Fees Increased ................ 2 internet, Canada Post is as strong as ever. Tips on Titles ......................... 2 MHR Update If you want to preserve your option to paper file, now is the time to make your voice heard. Transfers to Surviving Joint Tenant ....................... 4 Suggested contact names at the Land Title and Survey Authority PTT Update of British Columbia, The Law Society of British Columbia, The Canadian FTHB Program Amendments . 2 Bar Association (BC Branch), as well as an e-mail list of MLAs in the Metro Vancouver area, are included as an insert. Vital Statistics Update Living Wills Searches ............. 4 You still have time to influence this critical decision. West Coast Update Yours Faithfully, Pre-Printed Invoices ............... 5 Staff Anniversaries ................. 5 Wayne Crookes Shelley Porter Owner/President General Manager Page 1 April 2008 The Register PTT Bulletin PTT 004 Tips on Titles Bulletin PTT 004 (Issued March Assignment of Charge UPDA TE 1994, Revised February 2008) provides a summary of the First Time When a charge has been assigned or FTHB Program Home Buyers’ Program and its eligibility transferred, the last or most recent Amendments requirements, including the changes assignment of charge number will be announced in the 2008 Provincial shown on the title directly beneath the name of the “Registered Owner of Amendments to the threshold and Budget. If you would like a copy of Charge”. All previous assignments or financing requirements of the First this bulletin, please contact Cyndy transfers, as well as modifications, will Time Home Buyers’ program (FTHB) Patterson in our Client Services usually be shown under “Remarks”. were introduced in the 2008 BC department at 604.659.8610 or toll When dealing with the charge, the Provincial Budget effective on or after free at 1.800.553.1936 or send your complete history of the charge must be recited February 20, 2008. request via e-mail to [email protected]. The bulletin is also available on on the document. Increased Thresholds the Ministry of Small Business and Revenue website at Modification of Covenant and Statutory Right of Way For registrations filed on or after www.sbr.gov.bc.ca/documents_library/ February 20, 2008, the qualifying fair bulletins/PTT_004.pdf. When a covenant or statutory right of market value threshold was increased way is inter alia and is modified as to from $375,000 to $425,000. This one or more of the lots but not all of the increased threshold value applies to all Land lots, reference to the modification will areas throughout the province. UPDA TE appear on the title under “Remarks” for the charge on all titles. However, Where a property has a fair market the modification will only appear as a value of up to $25,000 more than LTO Fees Increased separate charge on the title(s) to the the threshold amount, the property is actual lot(s) affected. still eligible for a proportional April 1, 2008 exception. The formula for calculating As outlined in our Land Update of Incorporation Numbers the proportionate amount of tax March 3, 2008, the Land Title and payable is included in Section F(5) on Survey Authority of British Columbia When a BC company holds an the blue First Time Home Buyers’ announced an increase in some of interest in land, the incorporation Property Transfer Tax Return. its Land Title Act base fees effective number of the company is usually April 1, 2008. This increase is equal shown on the title. However, on Financing Requirements to the adjusted Consumer Price Index older titles, this was not always rate of 2 percent. enforced. When dealing with the If a property is purchased on or after company’s interest now, your document February 20, 2008, the purchaser is Fees to register fee simple documents, must show the incorporation number even no longer required to meet any charges, releases and plans all increased if the title does not. financing requirements to qualify for by a nominal amount. Fees to register the FTHB program. However, if a a caveat, judgment and certificate of If the company is not a BC company, property purchase was registered pending litigation also increased this the title will not show an before February 20, 2008, the time. Photocopy fees for imaged copies, incorporation number. When purchaser must still meet the financing title searches, pre and post searches, subsequently dealing with a requirements that were in place when name searches, power of attorney company that is not a BC company the property was purchased, i.e., the searches and strata plan general index or a company that is not extra- amount borrowed to finance the searches also increased. provincially registered, your document purchase had to be 70% or greater of should indicate the company’s the fair market value. For a complete listing of all Land Title governing jurisdiction (which will fees, including the new fee increases, explain why there is no incorporation All purchasers (including persons please contact Cyndy Patterson in our number shown). If it has been more who purchased their property prior to Client Services department at than six months since the non-BC February 20, 2008) are now free to 604.659.8610 or toll free at company first registered its interest pay down any amount on their 1.800.553.1936. You may also e-mail in land, then the Land Title Office mortgage and are no longer restricted your request to [email protected]. The new may require proof (usually in the form by any limitations for paying down the Fee Structure may also be found on of a Certificate of Status)that the mortgage during the first year of the Land Title and Survey Authority company is still in good standing. ownership. website at www.ltsa.ca/fees.htm. Page 2 April 2008 The Register Certified Copies Vital Statistics Certificates BC Gazette Usually, original documents must The Land Title Office will accept a always be filed in the Land Title Office. certified copy of the following UPDA TE However, the Land Title Office will certificates attached to a Form 17: accept a certified copy of certain types Insertion Rates of documents. If a certified copy is • Death certificate for transmission acceptable, the original document must The BC Gazette’s insertion rates to surviving joint tenant have increased slightly for 2008. The still be presented to the Land Title • Office so that they can make a certified Marriage certificate for change of rates are determined by the number of copy for filing. A certified copy made name by way of marriage words (from 100 to 500) and the type of by a solicitor or a notary public is • Change of Name certificate for standard advertisements. There is a fixed not acceptable for LTO purposes. change of name under the Change rate for the first insertion and a reduced of Name Act rate for subsequent insertions. Powers of Attorney There is no Land Title fee for certifying A copy of the 2008 Insertion Rates, The Land Title Office will accept a Vital Statistics certificates. as well as the Deadlines and certified copy of a Power of Attorney Publishing Schedule, may be found document attached to a filing letter. Land Title Transfer on the BC Gazette website at www.publications.gov.bc.ca/ There is an LTO fee of $11.00 for certifying Forms Guidebook bcgazette.aspx. a Power of Attorney document. A 2008 edition of the green Land Title Transfer Forms Guidebook (Guidebook) You may also contact our Victoria Probate Documents will become available in early April. office at 250.405.6000 or toll free Letters of Administration The Guidebook deals with completion at 1.800.667.7767 and we would be Disclosure Documents instructions and guidelines for pleased to obtain this information completing the transfer forms A, B and for you. The Land Title Office will accept a Court C in both paper and electronic format. certified copy of the necessary The main revisions deal primarily with Reminder: documents to effect the transmission electronic forms. Notices must reach the Queen’s of a deceased’s interest in land to their Printer no later than 1:30 p.m. personal representative attached to a As in earlier editions, a complete copy on the deadline date.