Location and Hours
10145 - 115 Street NW
Edmonton AB T5K 1T3
Phone: 780-484-0665
Fax: 780-486-7282
Mon - Fri 8:30 am - 4 pm
Open during the lunch hour
Closed Weekends and Holidays
FOR MORE INFO or A DETAILED QUOTE email us!
nadine@oliverhouselaw.com or james@oliverhouselaw.com
Yukon
URGENT UPDATE TO LAND TITLES CHARGES - SEE BELOW
Law OFFICE
Our Firm
Our firm specializes in Residential Real Estate. With over 35 years of experience, we provide knowledgeable and professional service in a warm and friendly atmosphere. We love what we do and take pride in giving the best possible service to our clients.
Oliver House
Our Team: James D. Campbell - Barrister and Solicitor Nadine Bjorkquist - Paralegal
Devon Paine - Legal Assistant Yukon - Part-time Assistant
Our Services
- Purchases
- Sales
- Refinances
- Change of Title Ownership
- Mobile Home Sales and Purchases
- Canadian Military Moves
* we are on the BGRS approved supplier list
- Basic Estate Planning Packages
* includes a Will , Enduring Power of Attorney and Personal Directive
EFFECTIVE OCTOBER 20, 2024: The Government of Alberta Land Titles Office will be increasing their fees for document registration. This increase will affect ALL real estate transactions in Alberta. The increase will result in registration charges being approximately 2x to 3x higher than before so please factor this into your budget. Feel free to reach out to nadine@oliverhouselaw.com for for info. Here is the official News Release:
Subject:
Alberta Title Talk – Latest News from Land Titles Office
Date: Thu, 3 Oct 2024 15:15:16 -0400
From: Government of Alberta <donotreply@gov.ab.ca>
Alberta Title Talk September 2024 Issue
Registration Levy Implementation
As announced in Budget 2024, Alberta will replace variable charges for transfers of land, mortgage registrations, and some caveats with a new Land Titles Registration Levy. The variable charges will be set in legislation at $5.00 per $5,000 of value for transfers of land, mortgage registrations, and caveats that charge the land.
The levy comes into effect on October 20, 2024. Complete submissions received by Land Titles and Surveys before October 20 will be charged at the current rates, even if the documents are registered after the implementation date. Submissions received by Land Titles and Surveys on or after October 20 will be subject to the new levy.
Note: Incomplete submissions may be rejected or removed from the pending registration queue or charged the new levy per Section 14.1(6)(b) of the Land Titles Act. In addition, submission extensions that go beyond 30 days may be subject to the new levy.
For transfers of land and mortgage registrations, the $50 flat fee will remain unchanged. The variable fee has been replaced with the levy.
For transfers of land, the variable fee will increase from $2 per $5,000 in property value to $5 per $5,000 and becomes the levy.
For mortgage registrations and caveats that charge the land, the variable charge will increase from $1.50 per $5,000 of mortgage value to $5 per $5,000 and becomes the levy.
To help address your questions, we’ve included some questions and answers below:
Why are you imposing a levy?
The Land Titles Registration Levy was announced in Budget 2024, followed by the required regulatory work and allowing for the levy to come into effect after the bulk of the 2024 real estate season had resolved. Alberta is growing fast. The province is expected to have more than five million residents in the next two years. The levy is an additional source of revenue which, in addition to helping pay for Land Titles and Surveys modernization, will also generate general revenue to fund priorities like roads, schools and hospitals.
What is the levy?
The Land Titles Registration Levy is a separate charge from the current fees for transfer of land, mortgage registrations, and caveats that charge the land.
Which fees will be affected?
Only variable fees for the registration of transfers of land, mortgages and caveats that charge the land will be replaced by the levy and increased. All other registration service fees will remain unchanged.
How much will it cost for a typical house transaction and mortgage?
Based upon a $450,000 property with a $405,000 mortgage, the current fees in Alberta would be $401.50. With implementation of the levy, this amount will increase to $955.
Can I get an exemption for the levy?
The levy will apply to all applicable submissions received by Land Titles and Surveys on or after October 20, 2024. Exemptions are not possible.
Why weren’t stakeholders given more notice?
The Land Titles Registration Levy was announced in Budget 2024. Following the announcement, time was required to draft and establish a regulatory framework. This additional time also allowed for the levy to come into effect after the bulk of the 2024 real estate season had resolved.
Do other provinces have their own levies?
Most Canadian provinces charge some form of Land Transfer Tax (LTT). Of the six largest provinces, Alberta is the only province without an LTT. Implementing the levy brings Alberta in line with the rest of Canada’s provinces of similar size and economy. For a routine residential transaction, the proposed payment to government is less than one-fifth the national average, and 40 per cent of the next lowest cost jurisdiction, Saskatchewan.
Will search services be impacted?
All search services will continue at the current fee.
How does the levy fit with the government’s goals on housing affordability for Albertans when it is already expensive and hard to get in into the market?
There are many costs associated with buying or selling a home, including legal fees, home inspections, borrowing costs, agent commissions, mortgage insurance and registration fees.
Alberta’s government has set a fee structure that is very competitive compared with other provinces. For a routine residential transaction, the proposed payment to government is less than one-fifth the national average, and 40 per cent of the next lowest cost jurisdiction, Saskatchewan.