NOTARY PUBLIC VANCOUVER - JEROME TSANG NOTARY PUBLIC & YUN JIN (LUCY) KIM NOTARY PUBLIC
  • Home
  • About Us
  • What we do
    • Real Estate
    • Personal Planning
    • Notarization
    • Apostille
  • Contact Us
  • Projects
  • News & resources

New PTT exemptions for first-time buyers and new homes in BC

9/2/2024

 
The Government of British Columbia has announced changes to the Property Transfer Tax (PTT) to improve housing affordability. The changes, effective April 1, 2024, include raising the exemption threshold for first-time homebuyers from $500,000 to $835,000 and increasing the exemption for newly built homes to $1.1 million.  Click here to read more.

Source: www2.gov.bc.ca

Restrictive covenants not wiped out by new B.C. housing law

9/2/2024

 
The new B.C. housing law, aimed at increasing housing units on single-family lots, does not override existing restrictive covenants on land titles that limit multi-unit construction. Many properties have old covenants without expiry dates, and homeowners affected are encouraged to seek legal advice.  Click here to read more.

Source: Vancouver Sun

why bc land title system is the best in the world

3/30/2019

 
British Columbia has been able to develop one of the best land survey and title registration systems in the world.  

British Columbia, including the colonies before the province came into existence, has always maintained a system for recording ownership and interests in private land.   For a short while, the colonies maintained Deeds Registries.  However, a Deeds Registry results in a complicated, unreliable system for recording interests in land.   In order to gain an opinion on ownership of interests in land, an unbroken chain of documentary evidence over long periods of time or possibly from the original granting of the land from the Crown is required.   If any one of those documents was not properly executed, or if all documents in the chain cannot be obtained, then a shadow of doubt is cast upon the claim of ownership.
Picture

Read More

Canada’s first pre-sale register

3/5/2019

 
The British Columbia government has launched the Condo and Strata Assignment Integrity Register (CSAIR) to crack down on tax evasion and improve fairness and transparency in B.C.’s real estate market.  It is widely acknowledged that the practice of pre-sale flipping has been lacking of transparency. It is unknown exactly how many assignment flips occur each year.  This new register will require developers to add or file assignments on new developments. This information will be gathered securely by the developer. The information that must be reported includes identity and citizenship of all parties to the assignment.
Picture

Read More

Is it a good idea to add my children on the title of my home?

1/22/2019

 
This question has been asked numerous times.  And my answer is – it depends on your purpose.
​
Most parents, as they get older, would want to add their adult children on title of their home to save on probate fee when they pass.  Yes, although it is true that you can “save” on probate fee, but it can cost you more financially and have significant legal impact down the road.
Picture

Read More

Should I buy Title Insurance?

9/17/2018

 
In many instances, banks and financial institutions require the borrowers to obtain a title insurance.  However, this policy only protects the bank’s interest and insures against financial loss in the event of a defects in title to the property.

In British Columbia, title defects rarely happen.  When a land title is transferred, the new owner can be assured that his/her title is “indefeasible” (meaning the title transfer cannot be defeated, revoked, or made void) under the Torrens system, as long as the owner acquires the interest in good faith and for value consideration.
Picture

Read More

    Categories

    All
    Buying A New Home
    Conveyance
    Estate Planning
    Joint Tenancy
    Non-resident
    Personal Planning
    Powers Of Attorney
    Property Transfer Tax
    Real Estate
    Selling
    Tenancy In Common
    Title Insurance
    Vacancy Tax
    Wills

    RSS Feed

Talk to us today!

Hours of Operation

Monday 9:00am to 5:30pm
Tuesday 9:00am to 5:30pm
Wednesday 9:00am to 5:30pm
Thursday 9:00am to 5:30pm
Friday 9:00am to 5:30pm

Saturday Closed
Sunday Closed

Email

[email protected]
Call and Fax
Phone: 604-266-6644 (Eng, 中, 한국어)
Fax: 604-266-6614
Fax: 604-266-6614
Addresss
Unit 205
5704 Balsam Street, Vancouver, BC
​V6M 4B9
Google Us
Picture
Picture
Members of the Society of Notaries of British Columbia

Copyright © 2024 Jerome Tsang Notary Corporation | Jerome Tsang and Yun Jin (Lucy) Kim Notaries Public, Vancouver BC | Notaries of British Columbia | Sitemap

  • Home
  • About Us
  • What we do
    • Real Estate
    • Personal Planning
    • Notarization
    • Apostille
  • Contact Us
  • Projects
  • News & resources