CBABC identified a number of concerns regarding the new Land Owner Transparency filing process and system. A series of recommendations were formulated and shared with the Land Title and Survey Authority of BC to rectify these issues.
Recommendations included that LTSA:
- consider modifying the Registry to impose restrictions on user access to ensure confidentiality;
- update the time stamp system so minor modifications to details will not generate a new time stamp;
- create and implement a feature whereby users can generate duplicate LOTA filing forms with a new Registry ID#;
- review the Registry system’s compatibility with copying and pasting from other documents;
- allow PIDs Instead of title/charge numbers only;
- increase character limits permitted;
- permit flexibility in submitting Transparency Reports with or without a Transparency Declaration.
In the fall of 2021, the CBABC Residential Conveyancing Working Group was formed and is comprised of real estate lawyers who lobbied for an extension of the beneficial ownership filing deadline from November 30, 2021 to November 30, 2022. This working group then reviewed the registration process and provided recommendations to improve the efficiency of the new land owner transparency registry.
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