Landowners – Requirement to file documents in the Land Owner Transparency Registry (LOTR) by November 30, 2021
Effective November 30, 2020, the Land Owner Transparency Act (British Columbia) (“LOTA”) came into force, introducing certain disclosure obligations regarding beneficial ownership of land in British Columbia.
In August of this year, a Supreme Court of British Columbia case determined that showing true testamentary intention and compliance with Wills, Estate and Succession Act requirements, are equally important steps of a valid and enforceable estate plan.
The 2021 Federal budget proposes to introduce a new national one percent (1.00%) tax on the value of non-resident, non-Canadian owned residential real estate property considered to be vacant or underused. The tax applies to owners other than…