Changes to Director’s Requirements to File Land Title Forms Electronically
The Land Title and Survey Authority of BC (LTSA) recently announced changes to some e-filing requirements. These changes are two-fold and described below.
1. A change to the practice pertaining to the submission of a hardcopy Form C – Release of Mortgage.
Currently, the submission of a hardcopy Form C – Release of Mortgage – is permitted by scanning and attaching it to an electronic Form 17 – Release. This practice was implemented to assist financial institutions in their transition to electronic filing. The date by which this practice will no longer be permitted is June 30, 2014. After June 30, 2014, mortgage discharges created by or on behalf of financial institutions, including banks, trust companies and credit unions, will be required to be prepared and submitted on an electronic Form C – Release of Mortgage.
2. The phased removal of certain temporary electronic filing exemptions pursuant to section 168.111 of the Land Title Act. The dates on which these electronic filing exemptions will be removed are as follows:
March 31, 2014: Public utilities, telecommunications, oil and gas companies August 31, 2014: Local governments with populations of 20,000 or over October 31, 2014: Treaty First Nations October 31, 2014: Federal Government, including Canada Revenue Agency and the Federal Department of Justice December 31, 2014: Local governments with populations of 5,000 and over An exemption will remain for local governments with populations under 5,000 for the time being.
We have been in touch with a number of our affected clients with respect to the second item, and will continue to reach out as the relevant deadline approaches. Should you have any questions or require information in the meantime, please contact Dye & Durham’s Real Estate Support Services team at [email protected] or 604.257.1810.