Submissions and Legislative Updates

The CBABC Real Estate Committee responded to the BC Real Estate Association’s proposed changes to the Standard Form Contracts of Purchase and Sale. In particular, the committee recommended amendments to specify that GST be included in the purchase price.

On January 12, CBABC delivered a letter to the Attorney General highlighting concerns about the lack of transparency surrounding the proposed legislation for a single regulator for lawyers, notaries and paralegals. 

The provincial government recently tabled Bill 17, the Family Law Amendment Act, 2023, which reflects CBABC advocacy on property division and spousal support.

The Land Owner Transparency Registry office has responded to CBABC, providing updates on the Land Owner Transparency Registry filing forms.

CBABC has asked the Land Owner Transparency administrator to consider a series of recommendations designed to improve the process and requirements for land owners to file notice of beneficial ownership in BC. These recommendations are in response to privacy concerns and technical issues identified by CBABC members.

The government heard from legal professionals that more time is needed to meet new requirements to file under the Land Owner Transparency Registry, and has extended the deadline an additional year to November 30, 2022.

The recently enacted Land Owner Transparency Act, SBC 2019, c.23 (“LOTA”) requires that certain registered owners of real property interests in British Columbia file initial transparency reports disclosing their interest holders by November 30, 2021.

CBABC was invited to present before the Standing Committee on Finance and Government Services as part of a public consultation by the provincial government for the 2022 budget.

On July 9, 2021, CBABC delivered its final submissions to the Commission of Inquiry into Money Laundering in British Columbia. CBABC received joint standing with the Criminal Defense Advocacy Society to participate in the Commission in the fall of 2019. Our participation and submissions were not to overlap with those of the Law Society of BC.

LTSA responds to CBABC’s concerns regarding the November 30 launch of the Land Ownership Transparency Registry.