Increases in Land Titles Fees: What You Need to Know

• Jeskiret
  Bains

  Jeskiret
  Bains

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Effective October 20, 2024, registration fees charged on real estate transactions significantly increased with amendments to the Land Titles Act (the “Act”) and Tariff of Fees Regulation (the “Regulation”). Registration fees are charges imposed by the Land Titles Office for registering documents to ensure an accurate public record of land ownership and interests in land.

Although the flat fee rate of $50.00 for land transfers and mortgage registrations remains unchanged, there are adjustments to the variable costs involved in real estate transactions.

Transfers of Land

Previously, the variable fee for transfers of land was $2.00 per $5,000.00 of property value. This fee will now increase to $5.00 per $5,000.00 of property value.

Mortgage Registrations and Land-Charging Caveats

The variable fee for mortgage registrations and caveats charging the land will increase from $1.50 per $5,000.00 of mortgage value to $5.00 per $5,000.00 of mortgage value.

The below table illustrates the effect of the change in fees using $1,000,000.00 as the value of land and mortgage:

Conclusion

The new fee schedule for transfers and mortgages has been removed from the Regulation and will instead be included in the Act in Sections 64.1 (land transfers) and 102.1 (mortgage registrations).

It is important to include the increase in Land Title fees in your budget when purchasing land or borrowing funds.

Despite these cost increases, Alberta’s land title and registration fees remain the lowest in Canada. If you require assistance with your real estate or financing matters please contact our office.

_{This post is meant to provide information only and is not intended to provide legal advice. Although every effort has been made to provide current and accurate information, changes to the law may cause the information in this post to be outdated.}