As an update to our previous post advising of an increase to registration fees charged by the Land Titles Office for transfers of land and mortgages, the Government of Alberta has recently confirmed that the changes will take effect on October 20, 2024. The levy increase, introduced by the Financial Statutes Amendment Act, 2024, which […]
Navigating Commercial Leases
Commercial leasing is a vital aspect of business operations, offering companies the opportunity to secure suitable spaces for their operations. While commercial leases come in all different shapes and sizes, a quality commercial lease considers the rights and obligations of both parties, to each other, as well as to any potential third-party stakeholders – such […]
Alert: Upcoming Increases to Land Titles Office Registration Fees
On February 29, 2024, the Government of Alberta announced increases to the Land Titles Office (LTO) registration fees, which will affect both property transfers and mortgage registrations. These changes, outlined in the 2024 Budget “Fiscal Plan 2024-27”, will have implications for individuals engaging in real estate transactions across the province. Currently, the LTO registration fees […]
Property Rights Statutes Amendment Act, 2022 – an Update to Adverse Possession Law in Alberta
The Alberta Property Rights Statutes Amendment Act, 2022 (the “Act”), came into force on December 15, 2022. The Act amends three existing Alberta statutes: the Land Titles Act, the Law of Property Act and the Limitations Act, with the effect of updating the law regarding adverse possession in order to protect registered private landowners’ property […]
When Does the Dower Act Apply in Real Estate Transaction?
The Dower Act has been in place in Alberta for over a century and was originally designed to protect the rights of a wife who was unable to own property. If the husband decided to sell the property, the wife could not be evicted. This legislation was created in response to the possibility of a […]
New Residential Anti-Flipping Rules Implemented By Federal Government
The Federal government’s new anti-flipping tax rules were passed into law on December 15, 2022 when Bill C-32 received Royal Assent and was legislated as the Fall Economic Statement Implementation Act, 2022. These rules have essentially increased the cost of house flipping in Canada. Under the Act, a “flipped property” means “a housing unit of […]
The Prohibition on the Purchase of Residential Property by Non-Canadians Act
The Prohibition on the Purchase of Residential Property by Non-Canadians Act (the “Act“) and the Prohibition on the Purchase of Residential Property by Non-Canadians Regulations (the “Regulations”) (collectively, the “Legislation”) came into force on January 1, 2023 and affect contracts for the purchase of residential property entered into after this date. The Act prohibits non-Canadians […]
What Is Title Insurance in Alberta?
Protection from the Unknown When you’re buying a new home or property, it can be an exciting experience. But it also exposes buyers to risks. There are many ways prospective buyers can protect their investments from known problems, but what about the unknown? One option for securing your investment in residential real estate in Alberta […]
Residential Lease Agreements: What Needs to be Included in the Lease?
Protect Yourself & Your Tenants A residential lease agreement is a legal document that binds both you and your tenant. In its most basic terms, you agree to provide a safe place to live, and your tenant agrees to provide rent payments. As you probably know, these are not the only things that need to […]
The Importance of a Real Property Report
What would these ducks be? Alongside some of the general inspections you may make, like checking the electrical, plumbing, and structural integrity of the building, you will also want to obtain a Real Property Report from the Alberta Lands Surveyors’ Association. This document can provide you with the crucial information you need before you finalize […]
