Effective October 20, 2024, the levies for the registration of transfers of land, mortgages and some caveats will increase in Alberta. For more information on the specifics of the increase, see the "What are the new levies?" section below.
A key consideration with the upcoming October 20, 2024 implementation of the fee changes is that the new levies will apply to all transfers and mortgages submitted to Land Titles for registration on or after October 20, 2024. The current levy will apply if a complete transfer or mortgage submission is received by Land Titles before October 20, 2024. In their recent notice, Land Titles warns, “incomplete submissions may be rejected or removed from the pending registration queue or charged the new levy.”
Legal Teams should also be aware that where corrections are requested and the corrections are not submitted within the 30 grace period, the failure to complete the corrections within the grace period could result in a significant increase in the fees payable by their clients.
Setting appropriate expectations will be key for legal teams as they balance what will be several hundred dollars difference in Land Titles levies.
What are the new levies?
Announced in the first quarter of 2024, increases to the Land Titles fees for the registration of transfers and mortgages are set to come into effect on October 20, 2024.
The fee increase for Transfers is straightforward. Whereas the calculation of the fee was $50 + $2 for every $5,000 of the value of the property (evidenced by affidavit), it will become $50 + $5 for every $5,000 of the value of the property (evidenced by affidavit). So a property with a value of $400,000 currently has a registration levy of $210 and will be $450 under the changes.
The fee increase for Mortgages is more nuanced. Whereas the calculation of the fee was $50 + $1.50 for every $5,000 of the registered amount of the mortgage, it will become $50 + $5 for every $5,000 of the of the value of the mortgage unless the property value is less than the mortgage value*, in which case it is $50 + $5 for every $5,000 of the value of the property. So if the mortgage is $350,000 and the property value is $400,000, the registration levy is currently $155 and will be $400 under the changes.
For the above example, the combined Transfer and Mortgage levies go from $365 to $850.
Save yourself time and effort - the automatically calculated and updated new Land Titles levy calculations will be available to you in Prolegis in advance of the October 20, 2024. Estimates created using the Estimate Tool, will reflect the new levies on October 10, 2024. For matters entered into Prolegis with a closing date of October 16 or later, the new levies will automatically be added to the estimate. If you will be submitting to Land Titles prior to October 20, 2024, you can use the Discount function to reduce the fees allocated for the registration of transfers of land and mortgages.
Manage client expectations by communicating the changes in the Land Titles fees to your clients early using Prolegis' built-in communication tools.
Another way Prolegis Works for You!
*updated October 10, 2024
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