The Land Owner Transparency Act (“LOTA”) came into force in B.C. effective November 30, 2020, This legislation will impact almost everyone who acquires or currently holds an interest in land through a corporation, partnership, or trust (including a bare trust).
The LOTA imposes disclosure obligations that impact anyone who already holds an interest in land as of November 30, 2020, or who acquires an interest in land after November 30, 2020.
If you currently hold a registered interest in land in British Columbia through a corporation or society, as a trustee (including through a bare trustee), or through a partnership, you may be required to file LOTA disclosures before November 30, 2021.
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