There are many reasons to update the names on your property title. For example, a change in marital status due to divorce, marriage or death requires a title update.
In addition, the process of estate planning sometimes involves adding or removing names on a title. Whenever a change is required, you’ll need to consult a professional who provides real estate legal services, such as a notary or lawyer.
Types of Property Title Updates
One common property title update is a family transfer, which involves adding or removing a family member. We see family transfers result from marriages and divorces, but they also occur for tax reasons. One spouse could’ve been left off the title for tax or grant purposes, and now they want to be added.
Another common use of a family transfer is when parents include their children on a title to avoid eventual probate fees.
Land Title and Survey Authority
In BC, changes to property titles are made through the Land Title and Survey Authority of BC (LTSA). The LTSA administrates the land title and survey systems in our province and stores and manages information about registered properties.
Every notary or lawyer that provides real estate legal services has an account with LTSA and can generate and register the necessary forms to update property titles. This process is quite simple and may even be done on the same day.
All you need to bring to your appointment are 2 pieces of ID for each person that will be on title or removed from title, and your notary will handle the rest. If the property is part of a strata, for example a condo or townhouse, relevant strata documents are also required.
Once the documentation has been submitted and approved, the LTSA provides a State of Title Certificate, which outlines the new ownership structure.
Legal Consequences of Title Transfers
Changes to property ownership can bring unexpected consequences, including tax and estate implications. Your notary can assess your situation and advise you on the legal implications of any property title changes.
If you want to learn more about title transfers (otherwise referred to as conveyancing), updating a property, or adding or removing names, talk to us at Zancope Notary Public, Langley, BC. We provide a full range of professional real estate legal services and can help you understand the legal implications of updating a property title.
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