Your home is often your most valuable asset. It’s also something you care for, maintain, improve, personalize and cherish. For this reason, “home” to many people means a safe place. And yet, title fraud has been on the rise – primarily in Ontario, but also in BC – and is causing concern for many homeowners. […]
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Title insurance protects the policyholder from financial loss – including associated legal expenses – incurred as a direct result of fraud and unforeseen title challenges and defects. Coverages & Inclusions Fraud Title fraud is a crime that occurs when a fraudster successfully represents himself as the property owner in order to either (1) sell the
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British Columbians enjoy the benefit of one of the greatest land title registry systems in the world. Our provincial system combines English common law and Australian Torrens system principles, resulting in an efficient, convenient system that guarantees title and brings certainty to land ownership. Historical Context: Uncertainty & Risk in Land Ownership Under the original
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What is a Form F? A Strata Form F Information Certificate is written verification from a strata corporation that there is no outstanding balance – including strata fees, special levies, fines, chargeback costs – owed by the strata lot owner. Like a strata Form B Information Certificate, each Strata Form F is uniquely created for
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What is a Form B? A strata Form B Information Certificate is a document that provides critical information about both the strata corporation and a specific strata lot, including: the amount of the regular monthly strata fees; the balance of any arrears and special levies for a specific unit; allocation of parking stalls and storage
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More than 1.5 million British Columbians – about 30% of the population – live in strata housing; 1 considering stratification trends, increasing market prices, and the realization that strata housing can offer an unparalleled level of security, convenience and/or amenities for a price point that cannot be met in non-strata homes, it can only be expected
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There are many compelling reasons to have a Will, but what actually happens when a person dies without leaving a Will? In British Columbia, the Wills, Estates and Succession Act (WESA) provides the intestacy rules. Administration Pursuant to section 130 of WESA, when a person dies without a Will, the court may grant administration of the
Death Without a Will: A Look at BC’s Intestacy Legislation Read More »
A Will is a critically important document, but only 50% of British Columbians have their own signed, current Will*, which, of course, begs the question: Why? Here are some of the most common myths and misconceptions that we’ve heard: Myth #1: Only people with significant assets need a Will. A Will is a legal document
Co-operative Housing Summary Co-operatives are a form of shared ownership where each owner is a shareholder in a corporation that holds legal title to the property. This is a unique type of ownership – different than condominium and strata living – that can come with its own challenges and benefits. What is it? A Co-operative or Co-op is a type of
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This article distinguishes the two main categories of land estates in British Columbia. It is important that owners understand the nature of the ownership that they are buying before they enter into a contract to purchase the property. Freehold A Freehold estate is one in which person(s) own a property in perpetuity or until deciding
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