Tag

Real Estate

JUL

2018

Natural Disaster Extension Provisions

Forest fire season has officially arrived in the Okanagan. The smoke in the air is a good reminder of the importance of turning your mind to the possibility of delays in closing real estate transactions as a result of nearby natural disasters such as forest fires and floods. Most...

JUL

2018

Transmissions to Surviving Joint Tenant

In BC, property that is owned by two or more people can be held in either “joint tenancy” or in “tenancy in common”. There are several considerations to take into account when deciding which route to go, however a primary consideration in that decision is that with joint...

JUL

2018

Understanding the Home Owner Grant

Property taxes are always a hot topic at this time of year with most local jurisdictions having due dates in July. In British Columbia, the Province provides a reduction of property taxes in specific situations for a person’s principal residence. There are a number of rules and...

JUN

2018

Property Tax Payment Reminder

Have you purchased real estate in 2018? If so, we recommend that you make the necessary inquiries to ensure that you are aware of your obligations with respect to property taxes. Property taxes are payable to the applicable taxation authority (City, District, Municipality, etc.)...

MAY

2018

Property Taxes are coming due

Its that time year again. Municipal property tax notices have been (or will shortly be) sent out by your local Okanagan taxation authority notifying the property owners that property taxes are due in 6 weeks and what exactly those taxes are. These notices are sent out to the...

MAR

2018

Farewell to the British Columbia Home Owner Mortgage and Equity Partnership Program

The British Columbia Home Owner Mortgage and Equity Partnership Program (the “BCHP”) was introduced in December 2016. On February 20, 2018, the government of British Columbia announced that the BCHP will be eliminated. The BCHP is a program that offers financial support to...

FEB

2018

Property Transfer Tax Changes – Additional Property Transfer Tax

If you are a non-resident of Canada looking at purchasing property in the Regional District of Central Okanagan (“CORD”), the changes to Property Transfer Tax announced by the government of British Columbia on February 20, 2018 will be of particular importance. As of February 21,...

FEB

2018

Closing vs. Possession Date

When you purchase a new home or sell your existing home, there are various dates that are important in the process including the closing date (also known as the completion date) and the possession date which are both discussed in this article. We regularly get asked questions...

JAN

2018

Adjusting for Property Taxes

In most cases in our area, property taxes are payable to the applicable taxation authority (City, District, Municipality, etc.) in the middle of the year (on the specified date for each jurisdiction) for the entire calendar year. For example, property taxes payable in July 2018...

JAN

2018

New Mortgage Rules

On January 1, 2018, new mortgage rules were introduced by the federal government that will affect many potential home buyers. Would-be home buyers with a down payment of 20% or more will now be subject to additional qualifying criteria. Also known as a “stress test”, home buyers...

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Tag

Natural Disaster Extension Provisions

Transmissions to Surviving Joint Tenant

Understanding the Home Owner Grant

Property Tax Payment Reminder

Property Taxes are coming due

Farewell to the British Columbia Home Owner Mortgage and Equity Partnership Program

Property Transfer Tax Changes – Additional Property Transfer Tax

Closing vs. Possession Date

Adjusting for Property Taxes

New Mortgage Rules

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